Because of these large differences between territories, some areas they wouldn't make such a high profit during the renovation of the apartments. This analysis therefore shows: “With a few exceptions, the integration of tourist housing into the traditional rental market would not represent a relevant increase in supply.”
However, in cases where the amounts are very high, it would bring about a remarkable change if these tourist apartments were to become residential properties. In the case of the centre of Madrid and Malaga, there is an increase in the supply on the housing market would grow by 24.29% and 20.95%respectively.
Valencia and Las Palmas de Gran Canaria: the cities where the increase would be the greatest
If the number of apartments that would become homes in the cities as a whole is evaluated, by no means the rise in the housing market would reach 10%The cities with the most residential properties would be Valencia, with 9.86%, and Las Palmas de Gran Canarias, with 9.72%.
These would be followed by Santa Cruz de Tenerife, with an increase of 6.17%. Similarly, in Bilbao it would be an increase of 5.97%, while Barcelona and Madrid would reach an increase of 5.31% and 5.09% respectively. In La Palma, in turn, the increase would be 4.66%.
As explained by Rental Observatory analyst Sergio Cardona, the weight of tourist rentals in places with more tourism is in reality “very high” their “presence is very uneven”so that “it doesn't affect all parts of a city in the same way.”
Bringing these homes to market will not be enough
“The integration of tourist housing into the housing market will not be enough to solve the problem of the lack of supply,” Cardona said of the overall picture. Moreover, he added, it must be taken into account Some of these tourist apartments are used as second homes.Therefore, banning it would not imply an immediate move towards residential rental.
Of course, the research data highlights that in some places in Spain there are tourist apartments exacerbate the housing supply problem. So they have an impact in such a way that it affects the crisis of accessibility to these properties and to constant increase in prices of these places. For this reason, the Spanish government continues to work on various measures that can limit the impact of these accommodations and promote a greater accessible housing stock.