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Hugely Popular European Destination Bans Apartment Rentals

By Jason Cochran

Posted on 04/27/2018, 8:00 PM

Between 2015 and 2017, illegal vacation rentals, fueled by services such as Airbnb, shot up 50%. As a consequence, rent for locals skyrocketed 40%. For a small Mediterranean island without suburbs to expand to, what is there to do? If you're governing Majorca, an internationally beloved getaway in the Balearic Islands off the coast of Spain, you impose a life-ruining fine of €400,000 (US $485,000...

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