Regulations on shared accommodations, represented by Airbnb, are being strengthened in major metropolitan areas. This is due to concerns that they distort the rental housing market. In light of global trends, there are recommendations that a comprehensive review of various housing types is needed in future housing policies.
According to the Construction Industry Research Institute of Korea's recently published Construction Trend Briefing (No. 937) on the 24th, New York City in the United States has been enforcing the 'Short-Term Rental Registration Law' targeting shared accommodations since September this year.
This law further strengthens existing regulations that specified the annual rental days (within 30 days) and the number of guests for shared accommodations. Individuals offering Airbnb lodgings must not only register but also prove that at least two people reside in the property. The homeowner must be present during the rental period. Similar measures are reportedly being discussed and implemented in other U.S. cities such as San Francisco and Philadelphia.
Several European cities are showing similar movements. Florence, Italy, banned new registrations for shared accommodations in June. However, homeowners who convert their shared lodging properties into long-term residences for over a month are exempt from property tax for three years. Cities like Barcelona, Spain, and Copenhagen, Denmark, have also imposed restrictions on offering private homes as Airbnb accommodations.
The spread of such regulations is related to supply issues in the rental housing market. Homeowners prefer short-term rental income, leading to a decrease in rental housing supply and an increase in rents. Additionally, noise and garbage from shared accommodations in residential areas have increasingly harmed the living environment.
In Paris, France, ahead of next year's Olympics, moves to regulate shared accommodations are becoming visible. According to official French statistics, about 800,000 lodgings were used for short-term tourist rentals in 2021, more than 1.5 times the 300,000 in 2016. Simply put, 500,000 long-term housing units for local residents have been converted into tourist accommodations, affecting the actual supply and prices of rental housing, the Construction Industry Research Institute analyzed.
Researcher Lee Seung-woo of the Construction Industry Research Institute said, "Recently, the housing market includes a large portion of alternative housing types beyond traditional housing products." He added, "Shared accommodations, as well as officetels and urban lifestyle housing characterized by mixed-use, are also significantly impacting the housing market." He further stated, "We need to prepare for the emergence of new housing types that reflect changes in spatial demand, such as urban planning flexibilization and mixed-use development."
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