Even more affluent residents of one of South Africa’s most populous cities feel they are being priced out of the housing market.
Cape Town residents are growing increasingly impatient with the lack of government regulations on Airbnb, as they feel they can no longer afford to live in the city, the Sunday TimesThe city has one of the most Airbnb listings in the world, a wonder for tourism. However, this also threatens locals struggling to cope with the lack of affordable accommodation.
“To create regulation, you actually really need to know what you’re solving for — and that has to be done based on evidence.” Efforts to increase the supply of affordable housing are being threatened as even those seen as well-off in Cape Town are being “priced out” because of the lack of affordable housing, according to urban policy researcher Nick Budlender.
Regarding specific policy and regulatory proposals, Corcoran said Airbnb believes now is the right time to introduce new rules for short-term rentals in South Africa.
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