Sarah Morris, Madrid | David Brown Britons letting apartments in Majorca have lashed out at new licensing laws imposed by the local government, saying they risk their livelihoods and could lead to another property crash. The new rules ban people on any of the Balearic islands — Majorca, Ibiza, Menorca and Formentera — from renting out space in flats via websites such as Airbnb and Homeaway unless they first obtain a licence. They face fines of up to €400,000 if they break the law. Companies, including Airbnb, face a similar penalty for allowing clients to advertise without a valid licence number. “What the local government is doing is half-witted — this is a tourist island, nothing else makes money,” said Ray, a Briton who preferred not to give his surname. He… Want to read more? Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month.
Britons using Airbnb to rent out apartments in Majorca have been critical of new licensing laws imposed by the local government, banning anyone on the Balearic Islands from renting out their properties without a licence. Those who do not comply face fines of up to €400,000 ($469,851), with companies charged with a similar penalty if clients are permitted to advertise without a valid licence. Airbnb says that the Balearic economy had an injection of over €550 million in 2016 from home-sharing through its platform, with local hosts earning around €6,300 by renting out their properties for 40 nights.