Latest / STR Unpacked / Spain Built It First. Its Own Court Just Killed It.
Transcript
- Ben: Good morning and welcome to your short-term mental bulletin on the 26th of May. So by now you've probably seen it. Back end of last week, start of this week, I've seen it everywhere, and that is the story that Spain Supreme Court has struck down the National Rental Registry already. It's been everywhere this week, and obviously I'm jumping on it as well. But stick with me because I think there are some takes in this that I haven't seen been spoken about too much. So ⁓ Here's what I've seen fair amount of, and just a recap. So the court killed the registry in Spain, and that is the one that Spain built to be the first to comply with the new EU regulation that is coming in. Here's what I haven't seen being spoken about too much. The court didn't say short term rentals are fine, it said overstepped. Tourism is a regional power in Spain, and the state tried to run a national system on top of registers. The regions already controlled. And the court essentially told it to back off. And the numbers aren't making the headlines. Around a hundred and eleven thousand homes had their applications rejected under this system. They may now relist if they hold the right regional license. The Federacion Español de Asaciones de Viviendas y Apartamentos Turísticos, or the Spanish Federation Association of Tourist homes and apartments says effective owners lost an average of thirty-three thousand euros each and their weighing compensation claims could hit hundred and sixty million euros. But before you celebrate, this isn't deregulation, the data sharing survived, the digital single window stays, platforms still report the fight didn't end. It just moved from Madrid back to the regions where Barcelona is still trying to scrap every tourist license by 2028. So the headline isn't operators win, it's what happens when a government races to be the first and builds on contested ground. What does your region do now? I really think that's the real question. Thank you for watching and I'll see you tomorrow.