The César Manrique Foundation (FCM) has criticised the Canarian Government’s proposed new holiday rental law, accusing it of serving the interests of big hotel chains and ignoring small owners.
The FCM’s objections were lodged last month and blame much of the housing crisis on Lanzarote on “treating housing as an investment rather than a user asset”. In addition, precarious work conditions and low wages have made property purchases impossible for many younger people, forcing them into the rental market.
The FCM claims that the law should take into account empty homes and second homes, as well as rental properties, and believes that “the re-use of homes currently lying empty is a quicker, faster and cheaper method than building new homes.”
The Foundation says that the control of holiday rentals, especially in saturated areas, “can be an effective limit to the proliferation of small owners putting their apartment up for rent.” However, it does not affect the interests of hotel companies, which can continue expanding without competition from “these small operators.”
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