Eleven years on, Airbnb’s site lists more than six million rooms, flats and houses in more than 81,000 cities across the globe. On average, two million people rest their heads in an Airbnb property each night – half a billion since 2008. [...]
In London – where more than 77,000 homes are listed on Airbnb, a fourfold increase since 2015 – mayor Sadiq Khan last month called for a registration scheme for people renting properties on a short-term basis. Since 2015, a legal cap of 90 nights a year for short-term rentals in London has been in place, but it has proved almost impossible to enforce. [...]
Last week an adviser to the European Court of Justice said the company – which is registered in Ireland – should be regarded as a digital service provider rather than a real estate business. This could exempt it from onerous regulation. Airbnb has spawned competitors though none has matched its scale. Marriott International recently said it would become the first global hotel chain to launch a home-rental business. Hilton and Hyatt are considering similar moves. [...]
Fears of using Airbnb for lucrative real estate schemes are not misguided. The city filed a $21m lawsuit against a group of real estate brokers who are accused of using Airbnb to rent out 130 apartments in the city. The restrictions have been supported by housing campaigners, who see the company as a factor in rising rents and gentrification.
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