Airbnb Faces New Hurdles, Turkey Tightens Regulations on Short-Term Rentals As Rents Inflate
Portfolio Pulse from Vandana Singh
Turkey is considering a new bill that would require landlords to secure permits for short-term rentals, impacting platforms like Airbnb (NASDAQ:ABNB). The bill is aimed at curbing escalating rents and home prices, exacerbated by rampant consumer inflation. The proposed legislation would designate rentals for less than 100 days as 'tourism-oriented', and fines of 100,000 Turkish liras ($3,600) per unit would be imposed on those who defy the stipulations.
October 10, 2023 | 4:33 pm
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The proposed Turkish bill requiring permits for short-term rentals could impact Airbnb's operations in the country.
The proposed bill in Turkey could potentially impact Airbnb's operations in the country, as it would require landlords to secure permits for short-term rentals. This could lead to a decrease in the number of properties available for rent on Airbnb, thereby affecting the company's revenues and profitability in the Turkish market.
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