French parliament approves bill to rein in tourist rentals

The French parliament has passed a law tightening regulations on tourist accommodations like Airbnb to address a housing shortage. France, Airbnb’s second-largest market, has seen a surge in short-term rentals, which lawmakers say fuels speculation and limits access to affordable housing. The legislation reduces tax breaks for tourist properties and gives local authorities more power, such as cutting rental limits for primary residences and setting quotas for furnished rentals. While some praise the move as a step toward resolving the housing crisis, critics, including Airbnb, argue it burdens families and favors the hotel industry.

Source : CGTN