The rise of tourist housing has reshaped urban and tourism markets in Europe, and especially in Spain. In just a few years, short-term rentals have become a key component of the accommodation market, driven by digital platforms and new travel patterns. This phenomenon, however, coexists with a profound debate about its impact on residential supply, long-term rental prices, and neighborhood coexistence.
This article brings together the main data, trends and regulatory responses in the European Union and Spain., focusing on the economic and social impacts, territorial differences, and the most recent regulatory changes. Throughout the text, you'll find verified figures, significant local cases, and measures already underway to improve transparency and oversight in the sector.
Collaborative economy and P2P tourism: from disruption to the present
The 2008 global crisis accelerated the adoption of models based on digital platforms that directly connect supply and demand., reducing traditional intermediation. This framework is often referred to as the collaborative economy, a broad umbrella that encompasses many activities and is inherently difficult to define precisely, but which essentially facilitates the temporary use of goods and services offered by individuals through technology.
Sharing resources is nothing new: from pre-monetary barter to cooperative experiences such as Zurich carsharing in 1948.There are historical precedents. The difference in the 21st century lies in the scale and capillarity provided by ICTs, which have enabled consumers and hosts to coordinate massively and in real time.
In tourism, the emergence of 3.0 or NextGen travelers—digital natives, hyperconnected and sensitive to personalization—has been decisive.The result has been the expansion of peer-to-peer tourism, where hosts and guests interact based on systems of reputation, trust, and cost reduction, with platforms as essential infrastructure.
This collaborative scheme, in addition to expanding accommodation options, has allowed small owners to monetize underutilized assets., while opening the door to regeneration interventions in historic centers. This positive aspect coexists with tensions that we analyze later.
European Overview: Recovery, Country Differences, and Seasonality
In 2023, EU tourism exceeded 2.900 billion overnight stays in tourist accommodation., 1,4% higher than in 2019 and 6,1% higher than in 2022, according to Eurostat. These data confirm the post-pandemic recovery, but at uneven rates across Member States.
The largest absolute increases between 2019 and 2023 were observed in the Netherlands (+19 million), Spain (+14 million), France (+8 million) and Portugal (+7 million).. In contrast, Italy (-6 million), Germany (-5 million), Hungary and Slovakia (both with -3 million) were still below their pre-pandemic levels.
Looking at the relative angle, Slovakia (-16,6%) and Latvia (-20,7%) were still far from pre-2020 volumes., which illustrates that the recovery was not homogeneous and that the demand pattern has mutated asymmetrically according to destinations.
In the monthly distribution of 2023, a seasonality similar to 2019 was detected, with nuancesJuly and August lost some relative weight, while May and September gained traction. This shift in peaks can be linked to changes in habits, teleworking, and pricing strategies.
Short-term rentals through online platforms have gained significant weight in this context., to the point where it now represents nearly a quarter of the EU's tourist accommodation capacity, a trend that European institutions have already incorporated into their regulatory agenda.
Spain: Weight of tourist housing and recent changes
Spain is one of the European epicenters of tourist accommodation on platforms, ranking second in terms of stays, with a growth of more than 35,4% in VUT users compared to 2022. This dynamism has also been reflected in the creation of spaces in large cities.
Exceltur 2024 registers 15.000 additional tourist rental spaces in the 25 main cities during 2023., although in some pioneering metropolises the phenomenon has been contained or reduced compared to previous peaks: Barcelona (-46,7% vs 2017), Palma (-41,7% vs 2017), Ibiza (-48,6% vs 2017), San Sebastián (-27,7% vs 2017) and Santiago (-21,3% vs 2019).
Recent growth is shifting towards medium-sized cities or those with less specific planning and inspection instruments.: Málaga (+12% vs. 2019), AlmerÃa (+58,1%), Granada (+6,9%), and in the north: Bilbao (+25,8%), Gijón (+59%), Oviedo (+75,6%), A Coruña (+51,6%), Santander (+47,4%); as well as inland areas such as León (+18%), Toledo (+18,8%), Valladolid (+17,6%), and Murcia (+14,7%).
According to the Bank of Spain, by 2024 there would be around 350.000 homes dedicated to tourist and seasonal rentals—close to 10% of the market., while the country has an estimated housing shortage of 600.000 and around 4 million properties are vacant or unoccupied.
The short-term rental business has improved its profitability compared to traditional rentals.Experts point out that occupancy must exceed approximately 70% of the year to make it more profitable, which is more feasible in destinations such as Barcelona, Madrid, Malaga, and Palma de Mallorca.
Definition of VUT, short-term social benefits and costs
Tourist housing is a residential property temporarily leased in exchange for a price for tourism, vacation or leisure purposes., furnished and equipped for immediate use, complete or by stay, and normally marketed via digital platforms.
Among the benefits: expanding the offering for profiles seeking flexibility, families, and digital travelers; and opening up income for small property owners., monetizing underutilized assets and even contributing, in some cases, to the revitalization of historic centers. This democratizing dimension has been underscored by various analyses.
Among the costs: tourist saturation or overtourism can strain neighborhood coexistence, neighborhood identity and urban services.Conflicts are observed due to uncivil behavior, the shift in commerce toward visitor-oriented uses, tourist gentrification, and additional pressure on infrastructure.
The associated speculation and the channeling of residential housing towards tourist uses reduce the stable supply, pushing up prices. both in purchase and long-term rental. This effect is considered one of the factors that hinder the right to decent and affordable housing.
The Emancipation Observatory of the Spanish Youth Council placed emancipation at 16,3% in the first half of 2023.Despite the slight increase, the rate fell in 10 communities compared to 2022. The rising cost and shortages are associated with the rise of VUT in some regions, to the point that in six communities, a young person with an average salary would not be able to rent alone even if they spent 100% of their salary.
Rental offer data and citizen perception
The permanent rental housing stock exceeds 3 million homes in Spain., while the INE estimates nearly 400.000 tourist rentals, 3,8 million vacant homes, and 2,5 million for sporadic use. Social stakeholders are calling for this pool to be mobilized and the framework adjusted to increase stable supply.
An OCU survey shows that 85% perceive that VUTs make housing more expensive.For 27%, the impact is significant, and for 46%, it is very significant; only 8% consider it to be null or minimal. Perceptions vary by region: Andalusia and Galicia show majorities of 8 out of 10, Catalonia and the Valencian Community between 7 and 8 out of 10, and Castilla-La Mancha and Castilla y León register a more moderate perceived impact.
Beyond the price of housing, 66% associate VUTs with an increase in the price of local services and 62% with the displacement of residents.Only 25% clearly value its impact on economic revitalization, and other advantages—such as cultural diversity—receive only a minority of support.
Only 4% would advocate maintaining the status quo unchanged.Among the measures preferred by citizens are promoting affordable housing, boosting public housing, and increasing the supply of traditional rental housing, along with legal and fiscal adjustments that provide security for owners and tenants.
EU response: transparency, registration and data sharing
In response to the expansion of short-term rentals, the European Commission signed data agreements with four major platforms in 2020. —Airbnb, Booking.com, Expedia Group, and Tripadvisor—so that Eurostat could compare overnight stays in short-stay accommodation since 2018.
An alliance of tourist cities in 2022 called for harmonized data recording and sharing legislation., and the Commission responded that same year with a proposal for a Regulation on hosting services, aligned with the Digital Services Regulation, the Services Directive, the e-Commerce Directive, P2B, the proposed Data Law, GDPR, the Single Digital Gateway, and the DCA7 Directive.
In 2023, under the Spanish presidency of the Council, the Palma Declaration was signed to promote a sustainable, digital and inclusive tourism model., placing resident well-being at the heart of strategies and strengthening transparency in the short-stay segment.
In February 2024, the European Parliament approved by a large majority the new data regulation for short-term rentals.Regulation (EU) 2024/1028 entered into force on 19 May 2024 and will apply from 20 May 2026.
The pillars of the Regulation: free online registration procedure with automatic unit numbering; inclusion of numbers in a public registry; ex post verification by the competent authority, with the possibility of correction and sanctions if non-compliance occurs.
A single digital window is created for the periodic transmission of data by platforms —address, registration number, URL, and activity— on a monthly basis; smaller platforms—fewer than 4.250 hosts—may submit data quarterly.
Each State shall designate an authority responsible for monitoring compliance and reporting biannually to the Commission.In addition, the regulation provides for a comprehensive evaluation after seven years (Article 18) that will assess the impact on platforms, the availability and use of data for policy and compliance, and the proportionality of national, regional, and local regulations.
Spanish framework and differences in jurisdiction
In Spain, the regulation of VUT and tourist rentals is the responsibility of autonomous communities and city councils., with diverse requirements: urban planning, housing conditions, services, municipal licenses and, often, requirements of the homeowners' association.
It is important to distinguish between Tourist Use Housing (VUT) and Tourist Apartments (AT)The former are private properties operated intermittently and unprofessionally, usually through platforms; ATs are usually managed by companies with specific standards—such as key sorting—and services like reception.
To operate legally, proper documentation, a tourist license, and registration in the corresponding registry are required., in addition to a certificate of suitability—issued by an architect or surveyor—that certifies the home's compliance with regulations.
This regulatory mosaic seeks to balance tourism competitiveness, accommodation quality and protection of the residential park., allowing each territory to modulate tourist pressure according to its urban and social reality.
Local cases: large cities and destinations under stress
Madrid is working on new regulations expected to be implemented by early 2025.; meanwhile, it has suspended the granting of VUT licenses, strengthened inspections, and toughened penalties to curb illegal supply.
Barcelona applies a restrictive approach supported by the PEUAT and measures of the GeneralitatProgress is being made toward a new framework that limits the opening of 262 municipalities with high demand or high density of VUTs, requiring local planning to be adapted before granting licenses.
In the Canary Islands, a Law on Sustainable Planning for the Tourist Use of Housing is being urgently processed., with measures under discussion such as reserving approximately 90% of the land for residential use and 10% for tourism, and minimum requirements for surface area (25 m²), air conditioning and energy efficiency (C or B).
Málaga, the province with the most VUTs (41.038 in February 2024, +16% year-on-year), updates its ordinance following Andalusian Decree 31/2024, incorporating the concept of saturated zones with new limitations. Until its entry into force, the city council has announced restrictions on new licenses for units with separate entrances.
In Palma de Mallorca, the activity requires a registration number and authorization from the Department of Tourism.Operating without a license carries heavy fines—up to 40.000 euros. The previous regulations prohibiting multi-family rentals were repealed by the Balearic Supreme Court in 2021.
Global markets, platform data and reactions
The platform boom has escalated sharply: Eurostat estimates more than 700 million overnight stays in the EU will be via these intermediaries in 2023., compared to just over 440 million in 2018, a jump that reflects travelers' preference for flexible options and non-traditional destinations.
In Germany, almost half of overnight stays are in holiday accommodation., not in hotels, which demonstrates the change in the accommodation mix in large European source and recipient markets.
Some local governments have opted for strict limitsNew York, for example, only allows stays of less than 30 days if the listing is registered, the host resides on the premises, and a maximum of two guests are accommodated at a time. Cities such as Paris, Amsterdam, Berlin, and Lisbon have implemented various restrictions.
Barcelona has announced that it will not renew tourist apartment licenses, with the expiration date around November 2028.The council argues that market tensions are mounting: rents have increased by 68% on average over the last decade, and purchases have increased by 38%. The sector—such as the Apartur association—replies that the ban will increase illegal supply, affect family tourism, and that VUTs represent only 0,77% of the housing stock.
The pressure is not only coming from VUT: residential tourism and the purchase of second homes by non-residents are impacting local prices.In the Balearic Islands, it is estimated that one in three purchases is made by foreigners; several EU countries—such as Denmark, Finland, Croatia, and Malta—maintain restrictions on purchases by non-residents under special regimes.
Regarding the effects on long-term rentals, academic evidence suggests that a greater number of VUTs puts upward pressure on rents., although there is debate about the magnitude and exact impact of drastic regulations on long-term prices due to the lack of conclusive studies.
Transparency, data and public management capacity
A recurring problem until now has been the lack of harmonization and efficient data exchange between platforms and authorities., which complicated supervision, control of illegal supply and the formulation of evidence-based public policies.
Regulation (EU) 2024/1028 addresses this gap with common standards for recording and exchanging data., reducing the burden of heterogeneous requests on platforms and providing municipalities, regions, and states with granular and usable information.
With a public registry, systematic checks and periodic reporting, governments will be able to better monitor densities, seasonality and regulatory compliance.The seven-year evaluation will also allow for a recalibration of the proportionality of the rules and their consistency with the objectives of urban sustainability and neighborhood well-being.