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Paris family exodus attributed to Airbnb
Reading Time: 2 minutesFrance: Schools are closing at a rapid rate in central Paris as hurtling property prices are driving families out of the French capital, according to France24. The publication reported on one school at Vaugirard, in which just 51 students were enrolled this year, and many parents and teachers are attributing this sharp decline on the […]
MagicStay gains €3 million in Series A funding
Reading Time: 2 minutesFrance: MagicStay is set to receive €3 million in a Series A funding round following a financial commitment made by a group of individual investors. The investment is being provided by representatives at Simmons & Simmons and Société Générale Corporate & Investment Banking. The latest round of funding into the vacation rental booking platform for […]
Limitations on Airbnb reservations in French cities come into effect
Reading Time: 2 minutesFrance: New rules have come into effect in France, which automatically limit reservations at Airbnb residences in 18 cities across the country. The regulations, which were enforced from 1 January 2019, mean any primary listed residences in those cities will not be allowed to host reservations for more than 120 nights per calendar year. They […]
Airbnb acquires Luckey Homes to signal potential entry into property management
Reading Time: 2 minutesFrance: Airbnb has acquired French concierge services company, Luckey Homes, for an undisclosed sum, signalling a potential entry into property management. France represents one of Airbnb’s most profitable markets, with over 500,000 listings and 13 million guests and hosts. Paris is Airbnb’s top global destination however the city is embroiled in a number of regulatory […]
Paris-based startup Homerez raises €6 million for app for rental homeowners
Reading Time: 2 minutesFrance: Paris-based startup Homerez has raised €6 million to expand the usage of its app for vacation home rental owners around Europe and worldwide. The business, which launched in 2014, received the funding from Seventure Partners, in addition to existing investors Entrepreneur Venture and XAnge, and private investors Nicolas Brumelot, Frédéric Halley, David Roche and […]
Paris Airbnb hosts fined more than $1.5 million so far this year
Reading Time: 3 minutesFrance: Officials in Paris have levied more than US$1.5 million of fines on unregistered Airbnb rentals since the start of 2018. Paris was Airbnb’s single-biggest city market worldwide at the end of last year. French regulations forbid residents from renting their property to third parties for more than 120 nights in a year, also requiring […]
Airbnb teams up with Century 21 for Paris subletting initiative
Reading Time: 2 minutesFrance: Airbnb has announced a partnership deal with real estate agency Century 21 in a deal which will allow subletting in Paris. Under recent legislation, Paris homes can be rented on short-term rental platforms for a maximum of 120 days, but sub-letting is only allowed without the permission of the property owner. Airbnb says the goal […]