Brussels proposes to restrict short-term rentals for 5 years and limit second home purchases

The European Commission presented this Wednesday its affordable housing law, which is limited to proposing a common legal framework that defines the conditions under which competent authorities may restrict short-term rentals or the purchase of a second residence. The proposal also includes a methodology to define what constitutes a strained area. This legislation emerges in response to the growing challenges of housing accessibility in the European Union. The competent authorities of each Member State will be responsible for implementing these restrictions, which may last up to five years, according to the specific conditions of their strained areas.