canary islands holiday rental law ascav

Holiday rental law ‘has not cut long-term rents’ in Canaries

Holiday rental law ‘has not reduced long-term rents’ in Canary Islands

The Canary Islands Holiday Rental Association (Ascav) has stated that the holiday rental law passed a year ago has forced numerous private individuals out of the tourism business and reduced the number of available properties without leading to a drop in the price of traditional long-term rentals, which continue to rise.

In a press conference, Ascav presented a report based on official data from the Canary Islands Institute of Statistics (ISTAC), the National Statistics Institute (INE) and the regional holiday rental register. According to the organisation, this data proves that the reduction in holiday rentals “has not changed and will not change in the slightest” the situation of the residential rental market.

Government ‘failed to improve housing access’

Ascav representatives argued that the government of the Canary Islands had promoted regulations that led to “thousands of families” leaving the tourism sector without contributing to improved access to housing. They also pointed out that holiday rentals provide a supplementary income for many property owners and generate economic activity in other sectors.

Ascav has denounced that property owners have faced legal uncertainty since the law was approved and reminded that the commitment to introduce amendments has not been fulfilled. The association defended a cross-party amendment to modify the law, which was approved by ASG, PSOE, Nueva Canarias and Vox in a parliamentary committee on 9 July, taking advantage of the legislative process for the Urban Licence Streamlining Bill. The amendment would mean that holiday rentals would no longer be considered a classified activity.

Accusations of political manoeuvring

Ascav has accused the Canarian Coalition (Coalición Canaria) of attempting to reverse this amendment, which is pending ratification by the full parliament, by presenting a dissenting vote that the association considers to have been submitted out of time and without complying with parliamentary regulations.

For Ascav, the Government of the Canary Islands should focus its efforts on mobilising empty homes, a measure it considers more effective for increasing the supply of residential rentals.

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