The discussion around short-term rentals (STRs) in Marbella and other popular tourist destinations has been intensifying. Local governments and media outlets often point fingers at STRs, blaming them for rising housing costs and rental shortages. However, a recent study from the University of Málaga (UMA) presents a more nuanced picture, suggesting that the problem may not be as severe as commonly portrayed.
What Does the Data Say?
According to the UMA study, Marbella has 13,857 registered tourist rental properties, but only 32% of them are actively rented out. This means that nearly 70% of these properties are either vacant, owner-occupied, or used sporadically. This challenges the widespread belief that STRs are systematically removing housing from the long-term rental market.
Furthermore, Marbella is not an isolated case. Studies in other major tourist cities like Barcelona and Lisbon have shown that while STRs do have an impact on housing availability, their influence is often overestimated compared to other factors like lack of new housing developments, restrictive zoning laws, and speculative investment in real estate.
Are Short-Term Rentals Really the Problem?
Several key points suggest that blaming STRs for Marbella’s housing crisis is an oversimplification:
✅ A Large Portion of STRs Are Not in Use – If nearly 70% of these properties are inactive, it means they are not competing with the long-term rental market as aggressively as policymakers suggest.
✅ Many STRs Would Not Convert to Long-Term Rentals – A significant number of STR owners do not wish to rent long-term, as they use the properties themselves or prefer the flexibility of short-term renting.
✅ Regulations Already Exist – Marbella already enforces restrictions on STRs, including licensing requirements and zoning laws that limit where new STRs can operate.
✅ The Housing Market Faces Deeper Structural Issues – The real reason behind high property prices and rental shortages is a lack of affordable new housing developments, strict building regulations, and high demand from international buyers.
The Economic Role of Short-Term Rentals
Rather than being a problem, STRs contribute significantly to Marbella’s economy:
💰 Boosting Local Businesses – Tourists staying in STRs spend money in restaurants, shops, and local services, supporting jobs and economic growth.
🏡 Allowing Property Owners to Supplement Income – Many local residents rely on STRs as a source of extra income, helping them afford their mortgages and maintenance costs.
📉 Preventing Empty Homes – Without STRs, many vacation properties would sit vacant most of the year, contributing even less to the economy.
What Should Be Done Instead?
Rather than imposing further restrictions on STRs, policymakers should focus on long-term solutions that genuinely address the housing crisis:
🏗 Encouraging New Housing Developments – Easing zoning laws and providing incentives for developers to build more affordable housing.
📜 Streamlining Rental Laws – Making long-term rentals more attractive for landlords through tax incentives and improved legal protections.
🌍 Balancing Tourism and Housing Needs – Recognizing that Marbella thrives on tourism and ensuring that both short-term and long-term housing needs are met without unnecessary restrictions.
Conclusion
The idea that short-term rentals are the main driver of Marbella’s housing crisis does not fully align with the available data. While regulation is necessary to ensure a balanced real estate market, blaming STRs while ignoring larger structural issues will not solve the problem. Instead, a more holistic approach—focusing on housing supply, affordability, and sustainable tourism—will lead to better outcomes for both residents and visitors alike.
What do you think? Should short-term rentals face further restrictions, or are policymakers focusing on the wrong issue?
Excerpt: A recent study from the University of Málaga challenges the idea that short-term rentals are the main cause of Marbella’s housing crisis. With only 32% of STRs actively rented out, the real issue lies in housing supply and affordability.
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