This Thursday, November 7, Parliament definitively adopted a law aimed at further regulating the market for short-term rentals, like those offered on Airbnb. This text, under discussion since April 2023 and supported by parliamentarians from various political horizons, responds to the pressure exerted by the growth of these rentals in large cities and tourist areasoften to the detriment of access to permanent housing.
Borrowing rates noted on 11/12/2024
A less favorable tax framework for tourist rentals
To mitigate the impact of furnished tourist accommodation on the traditional real estate market, the law is reducing the tax advantage granted to owners. Unclassified furnished accommodation will see their tax allowance reduced from 50% to 30%with a ceiling of €15,000 in rental income.
As for classified furnished accommodation and guest rooms, the reduction will be lowered from 71% to 50%with a limit of €77,700 in income. The objective is to bring their taxation closer to that of traditional rentals, thus helping to curb speculation and encourage the return of housing to the long-term rental market. This measure was praised by those in the hotel industry who see it as better competitive fairness.
However, the Airbnb platform expressed its concerns, believing that these new rules could affect families who use short-term rentals to supplement their income. In addition, this measure could also have an impact on the real estate credit market, because lower profitability could influence investors to review their financing plans and their purchasing strategies.
New tools for municipalities
The law also offers new possibilities for mayors to regulate the rental of furnished tourist accommodation in their municipality. They can, if they wish, limit to 90 days per year the period during which a principal residence can be rentedcompared to 120 days previously. In addition, the legislation makes it possible to establish quotas for the number of furnished tourist accommodations and to reserve certain areas, through the local urban plan, for main residences.
This reinforced autonomy aims to help cities contain the growth of short-term rentals and to protect residents’ access to housing. Local elected officials will thus be able to better adapt their regulations to the specificities of their territory.
Transparency and energy performance at the heart of the new obligations
Finally, the law imposes new measures to increase transparency and ensure better energy performance of furnished tourist accommodation. Each rental must be registered and the owner must prove its legitimacy. The co-ownership trustees will have the possibility of prohibiting this type of rental via their internal regulations.
Additionally, starting in 2025, new furnished tourist accommodation must comply with energy performance diagnosis (DPE) standards, with evolving thresholds until 2028. Existing housing will benefit from a period of ten years to comply with these standards.
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