
Spain Orders Airbnb to Take Down 66,000 Rental Listings
The Spanish government on Monday ordered Airbnb to remove nearly 66,000 listings from its platform, widening a crackdown on tourist rentals as it seeks to alleviate a housing crisis that has become among the worst in Europe.
The government said the listings were in violation of rules because they either lacked licenses, had fake license numbers or failed to reveal whether the property was run by a corporation or an individual.
Airbnb said in a statement that it would continue to appeal all decisions linked to the case. A spokesman said the company would keep the listings up until the appeal made its way through the courts.
Housing affordability has become a critical social and political issue in Spain, where mass demonstrations have been held across the country by people who say that the proliferation of real estate investors and the conversion of lodging into tourist accommodations have pushed families from their homes. The scarcity has helped drive up prices much faster than wages, putting affordable housing out of reach for many.
Spain's consumer affairs minister, Pablo Bustinduy, said the action was part of a broader push by national, regional and local authorities 'to ensure that no economic interest takes precedence over the right to housing.'
His agency had previously investigated Airbnb and notified the company several months ago that 65,935 listings did not meet legal requirements and would need to be taken down, but the company appealed in court. On Monday, Madrid's high court backed the order. The government will require Airbnb to remove a first batch of 5,800 ads on the site, and additional orders will be issued until all the illegal listings are removed, Mr. Bustinduy said.
The company said that the root cause of the affordable housing crisis in Spain was a lack of housing supply and that stricter restrictions in cities including Amsterdam, Barcelona, Edinburgh and New York 'failed to ease local housing challenges while hurting local families who rely on hosting and driving up the price of accommodations for everyday travelers.'
'The solution is to build more homes — anything else is a distraction,' the company said in the statement.
Airbnb's listings in Madrid and Catalonia, whose capital is Barcelona, are among those affected by the ruling on Monday.
Barcelona had announced it would become the first European city to end licenses for vacation rentals, requiring owners to offer them as long-term lodging at capped rents by 2028 or put them up for sale. Mayor Jaume Collboni told The New York Times recently that tackling rising inequality that stemmed from the lack of affordable housing was the top priority.
Spain's woes mirror the pain lashing other European cities: Residential real estate has increasingly been turned into financial assets by investors. A surge in global tourism and workers crossing borders has prompted landlords to favor short-term rentals over protected long-term tenants. Cities need more homes, but high costs and complex regulations have stifled construction. A once-vaunted stock of social housing across Europe to shelter struggling families has shrunk after governments sold them to raise cash.
In Spain, the government has sought to reverse the problem with an ambitious program to build more affordable lodging and social housing. The prime minister, Pedro Sanchez, has sought to curb foreign buyers, including by proposing a 100 percent tax aimed at foreign real estate investors.
And in December, Spain's Supreme Court ruled that homeowners' associations could prohibit tourist rentals in their building if they got a three-fifths majority to agree.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 hours ago
- Yahoo
Airbnb names new CMO on tails of major platform overhaul
This story was originally published on Marketing Dive. To receive daily news and insights, subscribe to our free daily Marketing Dive newsletter. Airbnb has named Rebecca Van Dyck as chief marketing officer as it enacts a major push beyond vacation rentals into offering more travel services and experiences, according to a company blog post. Hiroki Asai, who has acted as the platform's global head of marketing since 2020, is moving into the newly created role of chief experience officer, where he will oversee Van Dyck. Van Dyck's resume includes past stints at Meta, Apple, Levi Strauss and creative agency Wieden + Kennedy. She departed Meta in 2022 after acting as chief operating officer of its Reality Labs division dedicated to developing virtual reality products and the metaverse. The executive began working with Airbnb earlier this year in a consultative capacity. As CMO, she will lead marketing, research and creative teams while helping guide Airbnb's product development. Hiroki will continue to steward Airbnb's marketing, design, product and community units, but with a sharper focus on the end-to-end experience for guests and hosts and the platform's overall product roadmap. In an email to employees, Airbnb Co-founder and CEO Brian Chesky said he has been trying to get Van Dyck on board since first meeting her in 2012. 'We're in the midst of a major transformation as a company — Airbnb is now more than a place to stay,' said Chesky. 'As we launch two new businesses, we need people around the world to understand this shift, and Becca brings exactly the kind of leadership we need for this moment.' Airbnb last month overhauled its app with a reimagining of its Experiences feature that aids users in identifying must-do activities at their travel destinations, such as tours and local hot spots. The company also introduced Airbnb Services, which allows people to connect with professionals like chefs, photographers and massage therapists. The idea behind the latter tool is to go toe-to-toe with the amenities available at a hotel. To complement the platform makeover, the brand recently launched an ad campaign with spots that use colorful animation to illustrate how Airbnb Experiences bring a sense of discovery back to travel. The effort also has a hefty amount of social-only content targeted around popular cities to vacation like Florence, Lisbon and London. Recommended Reading Why Airbnb booked a social-first campaign for its experiences relaunch
Yahoo
10 hours ago
- Yahoo
Certain Aussies the ATO is targeting this tax time: 'Don't think they won't notice'
The ATO has listed capital gains tax as a particular focus area that it will be examining this year when it reviews people's tax returns. ATO data indicates that many taxpayers are either not recording taxable disposals or under-declaring the proceeds from sales. This is backed up by a wide variety of third-party data, most recently loan information received from mortgage lenders and information on cryptocurrency ownership received from Australian designated service providers (DSPs). This information is used to identify the buyers and sellers of assets and quantify the related transactions. It isn't just property and cryptocurrency that the ATO has in its sights. Also included are share sales and managed investment transactions. RELATED ATO data reveals $830 tax deductions millions of Aussies miss out on: 'Nothing' $4,400 ATO car tax deduction that most Aussies miss: 'Easy win' Centrelink payment change happening next week: 'Will increase' As a reminder, CGT comes into effect when you dispose of assets. It is calculated based on the difference between the amount you paid for the asset and the amount you disposed of it for. Any profit is subject to CGT, which can potentially be discounted by 50 per cent if you hold the asset for more than 12 months. Your capital gain is worked out like this: Deduct the cost base from the sale proceeds. The cost base is the price you paid for the cryptocurrency plus incidental costs. Next, take away any capital losses you have. Then discount the gain. Individuals are entitled to a 50 per cent discount. The asset must have been held for 12 months or more for the discount to be available. The resulting figure is your net capital gain. This is subject to tax at your marginal rate. To ensure you are meeting your obligations and paying the right amount of tax, you need to calculate a capital gain or capital loss for each asset you dispose of unless an exemption applies. The main CGT exemption is in relation to your main residence. However, if you have used your home to produce income, such as renting out all or part of it through the sharing economy, for example Airbnb or Stayz, or running a business from home, you could still find that CGT applies to the part of the property that was used to earn income. It is vitally important that you keep records of the income-producing period and the portion of the property used to produce income to calculate your capital gain. Another exemption could apply in relation to any business assets that you have sold. The small business CGT concessions are available to reduce or, in some cases, totally eliminate capital gains arising where small businesspeople dispose of their business or part of it. There are four CGT concessions that may apply on the disposal of a small business: The 15-year exemption The 50 per cent reduction The retirement exemption Roll-over of the gain Broadly speaking, the concessions are available provided you run a small business (which for these purposes is one with a turnover of less than $2 million) and the assets being sold are active assets, which basically refers to assets which are used in a business. Shares in a private company can also be active assets if the underlying business of the company is trading in nature, rather than investment-driven. It's worth mentioning, in addition, the general 50 per cent discount which is available against most capital gains arising on the sale of assets, including shares, property and business assets. You will be eligible for this discount – in effect halving the rate of tax – if you have owned the asset for more than 12 months. The main features of the discount are as follows: The discount is available to individuals, trusts, partnerships and complying superannuation funds but not to companies. The rate of the discount is 50 per cent for individuals, trusts and partnerships and 33 1/3rd% for superannuation funds So, don't fall into the trap of thinking the ATO won't notice if you sell an asset for a gain and don't declare it. However, do be aware of the various concessions and exemptions which can reduce your gain. It's always worth talking to a tax agent if you think you are liable to capital gains tax. They will make sure your tax return is correct, complete and that all transactions have been properly disclosed. They will also make sure that you claim any discounts, concessions or exemption available to while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
12 hours ago
- Yahoo
Apple, X, and Airbnb among growing number of Big Tech firms exploring crypto adoption
The crypto industry has long sought a 'killer app' to bring blockchains into the financial mainstream and, in stablecoins, it may have found one. Banks and fintechs are rapidly adopting stablecoins—digital tokens pegged to the value of the dollar—and now Big Tech firms are poised to do the same. According to sources familiar with the matter, Apple, X, Airbnb, and Google are all holding early conversations with crypto firms about integrating stablecoins. The sources, who spoke with Fortune on the condition of anonymity to discuss private business conversations, said the firms view adoption of the crypto assets as a means to lower transaction costs and optimize cross-border payments. Apple, X, Airbnb, and Google are not the only Big Tech names exploring stablecoins. Others include Meta, which is once again leaning into the payment technology after abandoning an ambitious earlier push that failed in the face of regulatory backlash. Uber CEO Dara Khosrowshahi said the rideshare company is in the 'study' phase of using stablecoins for global money transfers at a Bloomberg conference on Thursday. The interest from Big Tech comes as stablecoins have attracted millions in venture funding and lawmaker attention as Congress weighs two bills that would regulate the asset class. And it follows a landmark acquisition from the payments giant Stripe of the stablecoin startup Bridge, which was a starting gun for many in Silicon Valley to take the technology seriously. '[Stablecoins] are this old idea, but finally I think we've got the right pieces coming together such that it's really coming into fruition,' said Haun Ventures partner Chris Ahn, who was an early investor in Bridge. X and Apple did not respond to requests for comment. 'It's pretty clear that this is probably one of the biggest upgrades to payments since the SWIFT network,' Rich Widmann, head of Web3 strategy at Google Cloud, told Fortune. He confirmed that the tech giant was exploring stablecoin integrations. 'While crypto payments aren't something we're focused on integrating into the platform in the near future, we're always looking at all aspects of payments for ways to improve our community's experience with it, including developments in digital assets and their use cases,' said an Airbnb spokesperson. While Big Tech has long been at the forefront of payments innovation, Silicon Valley has been hesitant to move into crypto due to the regulatory crackdown under the Biden administration. That changed with the re-election of Donald Trump, whose administration has embraced blockchain and instructed agencies to loosen oversight of the crypto industry. In the case of Airbnb, the short-term home rental platform has been in talks with crypto companies about potentially integrating stablecoins since the beginning of this year, according to four sources familiar with the matter. Accepting stablecoins as a form of payment would allow Airbnb to cut back on the transaction fees it pays processors like Visa and Mastercard, according to one crypto company executive. The vacation rental company has been talking with one of its payment processors, Worldpay, about using stablecoins, according to another crypto company executive. Worldpay announced last week that it would enable stablecoin payouts with its partner, the stablecoin infrastructure company BNVK. A Worldpay spokesperson told Fortune that the company 'does not comment on our clients.' Elon Musk's social media platform X has also recently been in touch with crypto companies about integrating stablecoins into its fledgling payments app called X Money, according to three sources. Musk, a former executive at the fintech giant PayPal, has long expressed ambitions about creating an 'everything app,' which would potentially include Venmo-like options for users to facilitate peer-to-peer payments. In January, X announced a partnership with Visa to create a digital wallet. X is currently in talks with payments processor Stripe to potentially integrate stablecoin payments, according to one source familiar with the matter. A spokesperson for Stripe declined to comment. Patrick Traughber, former head of consumer products and payments, led the discussions but left in January to work on the Sam Altman-backed crypto project World, according to two sources. Payam Abedi, a senior software engineer at X, is now leading the conversations, according to two sources. His public LinkedIn profile lists his title as 'Money at X.' Abedi declined to comment, and Traughber did not respond to requests for comment. Apple, which already has a massive presence in the payments ecosystem thanks to its Apple Pay system, has been in talks with crypto companies since January about integrating stablecoins into its payments infrastructure, according to four sources. One of these people told Fortune that these talks have included conversations with Matt Cavin, a senior director at stablecoin issuer Circle, whose public LinkedIn profile lists his job description at Circle as 'strategic partnerships in stablecoin payments.' Circle did not respond to a request for comment. While these three companies are in early conversations, Google Cloud is arguably the furthest along on stablecoin integrations. The tech giant has already accepted payments from two of its customers in PYUSD, PayPal's stablecoin launched in partnership with the stablecoin infrastructure company Paxos. 'We've invoiced the customer like we would normally invoice them. They've paid that bill the way they would normally pay it. But they've used stablecoins to effectuate settlement,' Widmann, the Google Cloud executive, told Fortune. Although Widmann declined to say whether other divisions within Google were exploring stablecoins, he did say that the stablecoin payments went through Google's central accounting office. 'There isn't a separate offshoot for stablecoin payments within Cloud,' he said. One crypto executive involved in the Big Tech discussions told Fortune that one major roadblock for companies will be deciding which stablecoins to integrate. Tether, which issues the leading U.S.-dollar-backed stablecoin, has had longstanding concerns over its approach to compliance, and its main competitor, USDC, faces an uncertain future ownership as its parent company, Circle, just went through the initial public offering process. Other options, such as PayPal's PYUSD face low adoption. The executive said that some Big Tech companies might consider launching their own stablecoin, though Democratic lawmakers have sought to limit this option. Though discussions for companies like Airbnb and X remain preliminary, Haun Ventures' Ahn said that the shifting environment toward crypto is making stablecoins increasingly attractive to Big Tech. 'Because they are bigger companies, they want to know that there is legitimacy here,' he told Fortune. 'That credibility is being provided, not just from the regulatory aspects of it, but they actually see fintech leaders like Stripe leaning into this and they think, 'I can trust this as well.'' This story was originally featured on