Madrid Will Allow Touristic Flats in Whole Blocks in the Center and in Low and First Ones in the Rest of the City

The end of the extraordinary plenary session of the City of Madrid held this morning in Cibeles almost eclipses the importance of the only item on the agenda, the debate and subsequent approval of the Plan Reside, the recipe of the government of Almeida to put an end to the phenomenon of tourist housing. This new ordinance, which replaces the Plan of Accommodation of 2019, was finally approved with the votes in favor of the PP, the abstention of…

The New York daily travels to Carabanchel to narrate how U.S. investment funds have become the biggest ‘houser’ in the capital of Spain, expelling neighbors in many cases and turning their homes into tourist flatsThe map of 400,000 tourist homes that colonize Spanish cities, street to street When the funds buy your neighborhood: the case of Puerta del Ángel in Madrid “This is my neighborhood, my children went here to school. I now wake up every …

The Madrid city council has approved new rules that will make it more difficult to issue permits for renting out apartments to tourists, EFE reports. The measure is intended to prevent situations where apartments in buildings are used both for permanent residence and for renting out to tourists. The city council, led by the conservative Popular Party, says it does not want to completely stop short-term rentals to tourists, but only to regulate t…

The Madrid City Council has approved in an extraordinary plenary the Reside plan, which aims to regulate the tourist flats in the capital. The consistory will not grant more licenses for tourist housing scattered in residential buildings of the urban center, but it will allow entire properties to be dedicated to that use. With this, it opens the door for investor groups or vulture funds to acquire entire buildings, whose homes are now for rent, …

In Madrid, 17,360 tourist establishments operate, of which 92.7% are tourist flats (16,100) and only 7.45% are legal (1,200).