The Spanish coastal town won't issue permits for any more short-term rentals for a couple of years to preserve housing supply for locals. Officials worry about a housing crisis.
Raising taxes on short-term rentals in Spain may not slow down the enormous demand for those properties. But it is a sign that the government is listening to those angry about the sector's perceived role in making housing unaffordable.
Malaga's politicians are aiming to relieve the strain on affordable housing by tightening regulations on short-term rentals. However, given the current popularity of southern Spain, this move could shift the pressure to nearby destinations.
You know how sometimes you go on vacation and think, "Wow, this place is great, I wish I could live here!" Well, it turns out the people who actually live there might be thinking, "Wow, I wish all these tourists would go away."