Airbnb slump means Europe’s cities can return to residents, say officials

Cities like Barcelona want to use crisis to allow people to rent properties at decent rates

Airbnb has revolutionised travel and since it was founded in 2008 hundreds of thousands of property owners have used the holiday accommodation platform to make ends meet, make a living and, in some cases, make a killing.

But while hosts, as they are known, are wringing their hands over the collapse of the travel industry and their loss of income, many city authorities are rubbing theirs at the prospect of thousands of holiday lets returning to the traditional rental market. Cities complain that the highly profitable holiday lets have driven up rents and forced out residents with the knock-on effect that local businesses no longer have a community to serve.

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* This article was originally published here

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