EU moves to curb short-term rentals as Milan housing costs bite

The European Union is set to propose rules that would help cities across the bloc clamp down on short-term rentals such as Airbnb, according to plans seen by AFP and reported by The Local Italy on Saturday. The initiative is aimed at tackling rising house prices in popular urban destinations, where the proliferation of holiday lets has squeezed out long-term residents.

For Milan, the timing is acute. Italy's financial and fashion capital has become one of Europe's most expensive cities for housing, and the growth of short-term lets has been a recurring theme in the international press coverage of the city's property market. The EU's planned framework would give local authorities a legal basis to restrict the number of days a property can be rented out to tourists, or to require registration of such lets.