Authorities are finalizing a regulation that proposes an end to speculation in the sale of real estate intended for tourist rentals. The new law, proposed by the ministry, proposes that a tourist lodging license be obtained anew for each new purchase. Thus, the license would be tied to the current owner of the apartment, rather than the property itself. The government’s aim is to stop speculation arising from the sale of properties with a valid tourist rental license.
The following is stated: “We are working to improve aspects of the use of housing for tourist purposes” and that “one of the aspects we are focusing on is preventing speculation in the sale of housing with a tourist rental permit.” The Ministry confirms the promotion of the new law and notes that its aim is to make it so that the tourist rental authorization is issued in the name of each new homeowner. If the property is sold to a third party, the permit will become invalid and a new application for a license will have to be submitted. Authorities are also working to simplify administrative procedures to avoid delays in processing urbanization reports.
For this purpose, the Ministry will propose to introduce in the new law the possibility of replacing or supplementing these reports with documents from specialized organizations in the field of urbanism.
The ministers proposed the creation of a single government data platform by 2025 to monitor tourist accommodation, which is one of the hottest topics due to its proliferation in major cities. The proposal did not please the regional tourism ministries because it did not take into account their views, despite the fact that they have the authority to do so. According to the Ministry of Tourism, tourist accommodation in the city of Alicante increased by 65% in 2023. Locals have long complained that the growth of this type of rental has contributed to a shrinking supply of long-term rentals and higher prices.