MADRID: Spain has fined vacation rental firm Airbnb €64 million (US$75 million) for advertising unlicensed tourist rental homes, the consumer rights ministry said today, as the government cracks down on excessive tourism that is driving up housing costs.
Spain’s leftist government, along with some city councils and regional authorities, has been seeking to curb tourism rentals that use sites such as Airbnb and Booking.com, which many in Spain blame for driving up housing costs by limiting the supply of homes available to residents.
Airbnb in July withdrew 65,000 listings that the ministry said violated its rules.
