# Universal `--rental` Section — Yield-Delta + Neighborhood STR Zoning Extension Marketed-gross-vs-realistic-net yield delta + neighborhood-level STR zoning registry for the property's country. Loaded when `--rental` is invoked alongside the per-country STR income/regime layer in each country playbook. **Snapshot**: May 2026. **Scope**: this doc supplies the *delta* layer — what gets *subtracted* from a marketed gross-yield headline (platform fees, management, lodging tax, regulatory day-cap haircut, insurance uplift, vacancy seasonality) — plus the *neighborhood-zone* layer (district / postcode / arrondissement / borough-level STR restrictions beyond what is captured at country level in `regulatory-watch.md`). The *base* layer (which STR regime applies country-wide, what STR licence the country requires, what STR income tax bracket applies) lives in each country's playbook `--rental` section. ## Universal contract For the property's country + neighborhood, return: 1. **Cost-line stack**: 6 line items quantified (platform fee · management · lodging/tourist tax · regulatory rental-day cap · STR insurance uplift · vacancy band) 2. **Marketed gross yield**: cite the listing-platform or aggregator headline (Idealista / SeLoger / Spitogatos / AirDNA / Inside Airbnb / Global Property Guide / national portal) 3. **Realistic net yield**: transparent computation — `marketed_gross − Σ(cost lines) − regulatory_haircut → est. net (inputs above)` 4. **Yield-delta verdict band**: 🟢 ≤2 pp · 🟡 2-4 pp · 🟠 4-6 pp · 🔴 >6 pp or regulatory-kill (day-cap binding, licence freeze, zone moratorium, structural ban) 5. **Neighborhood-zone overlay**: district / arrondissement / borough rules (citing ordinance + effective date) where they materially diverge from the country baseline 6. **Compliance gate**: is a licence required? is it transferable on resale? is there a freeze on new entrants? 7. **Confidence**: HIGH / MEDIUM / LOW per the skill's contract ## Platform-fee baseline (2026 reset) Airbnb finished migrating from the split-fee model (3% host + 14-16.5% guest) to **host-only 15.5%** for PMS-connected hosts on 27 Oct 2025; non-PMS hosts auto-migrated by 1 Dec 2025. PMS-flow hosts complete transition 13 Apr 2026. **Brazil hosts: 16%** (above global 15.5%). Treat **15.5% host-only** as the 2026 baseline; pre-Dec-2025 yield computations using "3% host fee" inputs are **stale** and must be re-stamped. [Airbnb host-fee resource](https://www.airbnb.com/resources/hosting-homes/a/simplifying-airbnb-service-fees-746) · [Hostaway 15.5% explainer](https://www.hostaway.com/blog/airbnb-host-only-fee-what-to-know-about-the-15-percent-host-fee/) · [PriceLabs rollout](https://hello.pricelabs.co/airbnb-host-fee-update/). Booking.com: **15% baseline + 3 pp Preferred Partner + ~8 pp Superior Preferred** (total up to ~23%); Payments-by-Booking adds 1.1-3.1 pp. [Booking partner help](https://partner.booking.com/en-us/help/commission-invoices-tax/commission/understanding-our-commission). Vrbo: **8% (5% commission + 3% payment) pay-per-booking**; subscription model alternative. [Lodgify Vrbo fees](https://www.lodgify.com/guides/vrbo/fees/). Management commission bands (no trade-body central rate-card surfaced for FEVITUR ES / ALEP PT / FIAIP IT / SETE GR / APAVT PT / DLD AE — all figures aggregator-derived, verify with named operator): | Segment | Short-let | Long-let | |---|---|---| | Western EU (FR / UK / IE / NL / BE / DE / AT / CH / LU) | 18-25% | 6-12% (ARLA / PSRA / NRLA) | | Southern EU (ES / PT / IT / GR / CY / MT) | 20-30% | 8-12% | | Eastern EU + Balkans + Baltics | 20-30% | 8-15% | | Americas (Vacasa / AvantStay / Evolve / Sykes US-CA; named ops MX / BR / AR / CO / CL) | 25-35% (Vacasa effective 40%+ with add-ons) | 8-12% | | Asia + Oceania (Squeeze / AirHost / Frank Porter / Bnbme / Bukit Vista) | 18-30% | 5-10% APAC | | MENA + Africa (Frank Porter / Bnbme / Driven / Houst / yourhost.ma) | 15-30% | 5-7% AE, 8-12% others | ## Yield-delta verdict bands | Band | Marketed-vs-net pp delta | Regulatory overlay | When to use | |---|---|---|---| | 🟢 | ≤ 2 pp | No zone freeze, no day-cap binding, registration-only compliance | "Pricing reflects costs; light regulatory risk; foreign-buyer thesis defensible." | | 🟡 | 2-4 pp | Compliance burden present but achievable; day-cap exists but not yet binding | "Pricing partly optimistic; verify cost stack on parcel; manageable regulatory risk." | | 🟠 | 4-6 pp | Day-cap binding OR zone restriction OR sale-trigger expiry OR pending moratorium | "Marketed yield substantially overstates net; underwrite as long-let-equivalent or apply 30-50% haircut." | | 🔴 | > 6 pp or **regulatory-kill** | Outright STR ban, citywide unlicensed-illegal, zone freeze blocking new entrants, criminal penalties | "STR thesis structurally void in this zone — re-base as long-let or skip." | **Regulatory-kill** triggers 🔴 regardless of cost-line delta: - Citywide unlicensed STR illegal (HK <28d Cap 349, SG <3mo URA private / <6mo HDB, TH Hotel Act §4 <30d, CN domestic Airbnb suspended 30 Jul 2022, BD foreign-buyer STR unviable) - Zone-level freeze on new licences (BCN PEUAT Zone 1, MAD art. 7.6.3 bis PG97 (absorbed the 2019 PEH, 22 Sep 2025), LIS Áreas de Contenção Absoluta, ATH 1st/2nd/3rd Municipal Districts AMA freeze, AMS 8 stress neighborhoods 15-night cap from 1 Apr 2026, HU Budapest VI Decree 26/2024 zero-day from 1 Jan 2026, Florence Nucleo Storico Zona A new-STR ban from 31 May 2025 + A3/A4 from 21 Jun 2026) - Sale-triggered licence expiry (Lisbon containment zones — apartment-mode AL dies on resale, non-transferable) - Day-cap binding (NYC LL18 <30d host-present-only, Paris 90-day primary residence + 0d non-principal, Loi Le Meur effective; Ireland 90-day PPR-only post-RPZ universalization 20 Jun 2025; Amsterdam 30/15d; Auckland graduated business-rates share + Queenstown zone-specific cap (90-day in Lower Density Suburban and Medium Density Residential); Sydney Greater 180d non-hosted + Byron 60d) - Criminal penalties (HK HK$200k + 2yr; TR Law 7464 base fines TRY 100k-1M + unanimous co-owner consent; NOT Bali Perda 4/2026 — its nominee-facilitation ban carries administrative sanctions (Pasal 20) and creates no criminal offence of its own — Pasal 20(5) only defers to other legislation; the 5yr + IDR 1bn figure is UU 41/2009 Pasal 72(1) for converting designated LP2B farmland, not a nominee penalty) ## ⚠️ 7 cross-cutting traps 1. **Marketed gross yields are listing-platform-controlled** — Idealista / SeLoger / Spitogatos / Inmuebles24 / Property Finder publish gross numbers that exclude every cost line below. A 7% Idealista gross can become a 2.5% net once platform + management + tourist tax + regulatory haircut are applied. Treat platform yields as **seller-controlled** per the skill's source-ranking contract. 2. **Day-cap × ADR ≠ static computation** — a 90-day cap at $200 ADR with 78% occupancy is not "90 × $200 = $18k"; it is "90 × $200 × occupancy_within_cap". Paris 90-day, NYC LL18 <30d, AMS 30→15d, Sydney 180d, Queenstown 90d (zone-specific — verified for Lower Density Suburban and Medium Density Residential; check the zone) all bind utilisation, not just nights. Re-compute on the binding constraint, not the headline. 3. **Sale-triggered expiry destroys licence transferability** — under Lisbon's RMAL 2nd amendment (Aviso 29926-A/2025/2, in force 6 Dec 2025), in BOTH absolute (AL ratio ≥10%) and relative (5-10%) áreas de contenção the transmission of a house/apartment-mode AL registration triggers *caducidade* (expiry) — a fresh registration is required (in relative zones subject to exceptional authorisation). Lisbon absolute set now includes Santa Maria Maior 66.9%, Misericórdia 43.8% (reclassified from relative), Santo António 25.1%; bairro-level classification is reassessed biennially — verify the current Anexo IV. Same logic in Porto Vitória 60.5% / São Nicolau 48.3% / Sé 44.1%. Underwrite the licence as **non-transferable on resale** unless explicitly confirmed otherwise. 4. **Condo / strata / co-owner consent is often binding before zoning is** — TR Law 7464 requires unanimous written consent of all co-owners (structural ban in most apartment buildings); HR 2024 amendment requires 66% (new registration) or 80% (5-year retention); MY 2025 Court of Appeal *Wawasan Raya v MARC* confirmed MC by-law STR bans enforceable; Bali kavling SHM nominee structures criminal from 2026; BR condominium convenção bans STJ-affirmed. The deed-holder may own the unit but **not own the right to STR-let it**. 5. **Tourist taxes are often pass-through but ADR-suppressive** — Paris taxe de séjour 2026 = 5% pre-tax/n/pp capped €15.93 + 200% Île-de-France surcharge (Paris); Lisbon TMT €4/pp/n cap 7n; AMS 12.5% per room; Berlin City Tax 5%; Rome €5-10/n by class; Athens Climate Resilience Levy STR €8 high / €2 low season; Bali IDR 150k/foreign-visitor; Cape Town VAT 15% + TOMSA 1%. Even when guest pays, the all-in price ceiling suppresses ADR by an equivalent amount. 6. **Aggregator occupancy figures disagree by 10-20 pp** — AirDNA / Airbtics / AirROI / Inside Airbnb publish different numbers for the same city using different sampling + listed-vs-unlisted definitions. Paris 2024-2025: AirDNA 66% vs Airbtics 78%. London: AirDNA 57% vs Airbtics 74% vs AirROI 43.7%. Use ranges; do not anchor on a point estimate. Cross-check 2 sources minimum. 7. **2024-2026 regulatory wave reshapes the curve fast** — Loi Le Meur (FR 19 Nov 2024); Italy CIN (1 Jan 2025); Athens AMA freeze (1 Jan 2025 → through 2026); BCN universal HUT expiry Nov 2028 (Generalitat DL 3/2023 DT2; Ajuntament announcement 21 Jun 2024); Amsterdam 15-night cap 1 Apr 2026; VIC Short Stay Levy 7.5% 1 Jan 2025; Byron 60-day cap 23 Sep 2024; HCMC residential ban 1 Aug 2024 (Decision 26/2024); IN GST cut 22 Sep 2025; Kyoto hotel tax top band 10× (¥1,000 → ¥10,000) 1 Mar 2026; Tokyo 3% from FY2027; KE 2% Airbnb levy Jun 2026; ZA Cape Town STR by-law Apr 2026 (proposed); IL VAT 17% → 18% Jan 2025; RW 3% Tourism Levy 1 Jul 2025; Seychelles small-property TESL exemption 1 Jan 2026; TR Law 7464 (1 Jan 2024) + unanimous consent rule; SC Hospitality Act 80% consent + 2024 amendment; HU Budapest VI Decree 26/2024 zero-day from 1 Jan 2026; SI 60-day apartment / 150-day single-dwelling cap from 2026-2027; EE Tallinn Vanalinn cap incoming. A 2023-vintage yield model is materially stale by 2026. ## Regional patterns ### Western Europe **FR** — Loi Le Meur enacted 19 Nov 2024: national primary-residence cap stays 120 nights/yr; communes may lower it to 90 by deliberation from 2025 (2024 data, source Service-Public A17883); civil fine €15,000; **national registration: statutory date 20 May 2026, but the DGE lessor téléservice opens only in Q4 2026 — each commune's existing procedure applies until then** (2026 data, source DGE API meublés page); co-ownership prohibition threshold lowered from unanimity to 2/3 (where bourgeois habitation clause exists); DPE F banned from rental 1 Jan 2028, E from 2034. Paris 2026: record €585,000 court fine (Tribunal judiciaire de Paris 15 Apr 2026, 9e-arrondissement SCI converting an entire building into 11 meublés; source Ville de Paris communiqué 17 Apr 2026); a Brigade de protection du logement was announced 14 Apr 2026 — its headcount and year-to-date fine totals: data not publicly available — verify at presse.paris.fr. Paris taxe de séjour 2026: 5%/n/pp cap €15.93 + 200% Île-de-France surcharge. **All Paris intra-muros = zone tendue = de facto non-principal STR ban via compensation rule.** Band: 🔴 prosecution-active; 🟢 only if compliant primary-residence within the commune's cap (120 nights nationally, 90 where the commune has lowered it — check the commune's deliberation). [Service Public](https://entreprendre.service-public.gouv.fr/actualites/A17929) · [56Paris Loi Le Meur](https://56paris.com/en/paris-short-term-rental-regulations-updates-on-the-le-meur-law). **UK** — 90-night Greater London cap = s.25A Greater London Council (General Powers) Act 1973 as amended by s.44 Deregulation Act 2015; Airbnb auto-blocks since 2017. Business rates apply >140 nights available + 70 actually let (SBRR typically zeroes the bill if RV <£12k). STR insurance uplift 10-30% (NRLA confirmed — only Western EU country with primary trade-body figure). Westminster Article 4 directions exist for HMO but NOT STR-specific (gap Westminster wants to close). National STR registration proposed, not yet in force. [Deregulation Act 2015 s.46 notes](https://www.legislation.gov.uk/ukpga/2015/20/notes/division/5/46) · [GOV.UK business rates self-catering](https://www.gov.uk/introduction-to-business-rates/self-catering-and-holiday-let-accommodation). **IE** — Major 2025-2026 reform: STR definition tightened to ≤21 nights (was 14); **all of Ireland is RPZ since 20 Jun 2025** → STR non-PPR requires planning permission citywide; PPR retains 90-day whole-home or unlimited room-rental. **Short-Term Letting and Tourism Bill** (General Scheme approved 15 Apr 2025, **not introduced in the Oireachtas as of 2026-09-18**) + EU Reg 2024/1028: the national STR register is **not yet open** — Fáilte Ireland will introduce it only after the Bill passes, and no launch date is published *(2026 data, source Fáilte Ireland STLR page + Oireachtas bill register; 2026-09-18 verified)*. Permanent National Rent Control Framework from 1 Mar 2026 — increases capped at min(CPI, 2%). Band: 🔴 non-PPR; 🟢 PPR within 90 nights. [Fáilte Ireland STLR](https://www.failteireland.ie/registration-and-grading/short-term-letting-register-(STLR).aspx) · [RDJ RPZ extension](https://www.rdj.ie/insights/rent-pressure-zones-to-be-extended-to-cover-the-entire-country-and-amendments-to-rent-regulation-set-to-be-introduced). **NL** — Amsterdam toeristenbelasting **12.5% per room** (~€22/n on €176 avg); vakantieverhuur cap **30 nights/yr** + permit €73.30; **from 1 Apr 2026: 15-night cap in 8 stress neighborhoods** (7 Centrum stadsdelen + Oude Pijp). VvE consent often binding independent of municipal cap. Rotterdam 60d; Den Haag 30d. Band: 🔴 Amsterdam stress zones from Apr 2026. [Amsterdam toeristenbelasting](https://www.amsterdam.nl/en/municipal-taxes/tourist-tax/) · [NL Times 15-night cut](https://nltimes.nl/2025/12/19/amsterdam-cut-legal-vacation-rentals-15-nights-eight-neighborhoods). **BE** — Brussels Ordonnance 8 May 2014: registration number required for any paid rental ≤90 consecutive days; fines €250-€25,000 + cessation order + premises sealing power. **0% of 5,593 listings have STR licence** (Airbtics audit) — enforcement gap, but high audit-asymmetry risk. Tourist tax ~€4.24/room/n (raised 2024). Band: 🟡 statute strict, enforcement loose. [Ordonnance 8 May 2014](https://etaamb.openjustice.be/fr/ordonnance-du-08-mai-2014_n2014031471.html). **DE** — Berlin Zweckentfremdungsverbot: primary residence ≤90 days without permit (registration number required + visible in listing); fines up to **€500,000**, average ~€6,000; one district issued 717 penalty notices = €3.1M. **Milieuschutzgebiete STR ban** proposed — would affect ~1.2M residents; **status: not yet in force**. Berlin City Tax 5% (business travel exempt). Band: 🟠 baseline; 🔴 expected in Milieuschutz if enacted. [nuBerlin Zweckentfremdung](https://www.nuberlin.com/info/berlin-airbnb-law-zweckentfremdungsverbot/). **AT** — Vienna Bauordnung § 119(2a) effective **1 Jul 2024**: 90 nights/yr home-sharing allowance for natural persons who keep their residence; beyond 90 nights, outside Wohnzonen only with a § 129 Abs 1a permit (max 5 yrs), inside Wohnzonen no § 129 Abs 1a permit — short-let only in a Beherbergungsstätte after an Umwidmung (§ 7a Abs 5 BO) subject to the 80% residential floor-area rule. Fines up to €50,000 even for advertising >90 days online. **Ortstaxe 3.2% → 5% from 1 Jul 2026**. **Registration number planned from 1 Jan 2027** under the Wiener Kurzzeitvermietungsregistergesetz (WKVRG); Landtag vote planned for November 2026; hosts already listing have until the end of Q1 2027; fines up to €50,000 per violation, €2,000 minimum for repeat offences (2026 data, source Stadt Wien press release 2026-09-19 — announced, not yet enacted). Band: 🔴 inside Wohnzonen without permit; 🟠 outside. [wien.gv.at Merkblatt PDF](https://www.wien.gv.at/pdf/ma37/merkblatt-verwendung-wohnungen-kurzzeitvermietung.pdf). **CH** — Geneva max 90 nights/yr before commercial reclassification; Geneva taxe de séjour CHF 4.25/pp/n (CHF 2.50 camping). Zurich 90 days/yr in residential zones from 1 Jan 2024; Nov 2024 tightening referendum **rejected**. Lex Koller proposed amendment Apr 2026 to restrict foreign commercial RE acquisition. **0% of 2,002 Zurich listings hold STR licences** (Jul 2025 audit). Band: 🟠 cantonal cap. [ge.ch taxe de séjour](https://www.ge.ch/taxes-touristiques/taxe-sejour) · [propertyowner.ch Swiss STR](https://www.propertyowner.ch/en/airbnb-under-pressure-how-swiss-cities-and-regions-regulate-short-term-rentals/). **LU** — Fiches d'hébergement digital mandatory under Law 28 Feb 2025 eff **1 Sep 2025** via Lux Héberge platform; commune prior declaration to mayor required; no hard day cap. Band: 🟡 admin burden, no cap. [guichet.public.lu](https://guichet.public.lu/en/citoyens/fiscalite/immobilier/location/bien-immobilier-meuble-location-temporaire.html). ### Southern Europe **ES** — Airbnb host-only 15.5% + Spanish VAT 21% on the fee. BCN PEUAT Zone 1 (Ciutat Vella) full freeze; **all 10,101 HUT licences citywide lose their habilitation in November 2028** (Generalitat Decret llei 3/2023 DT2; the Ajuntament's 21 Jun 2024 announcement that it will grant no llicència urbanística is not a municipal decree; DT2.2 allows one owner-requested extension of up to five years; 2024 data, source Ajuntament de Barcelona Mesura de Govern 2024-2027). Catalonia IEET under Llei 2/2026 from 1 Apr 2026: Barcelona city HUT €9.50/person/night incl. €5.00 Ajuntament recàrrec (to 31 Mar 2027); rest of Catalonia HUT €1.75 (€2.50 from 1 Apr 2027); non-Barcelona municipal recàrrec up to €4 only with a fiscal ordinance + ATC conveni; max 7 stay-units per person (2026 data, source ATC Quota tributària i tarifes). Madrid: no municipal tourist tax currently; Madrid's Plan Especial de Hospedaje is a **2019** instrument (11 districts, not a 2018 Distrito Centro plan) and is **no longer live** — its norms were absorbed into art. 7.6.3 bis of the PG97 Normas Urbanísticas by BOCM 226 of 22 Sep 2025, so never cite the PEH as current. The sourced requirement is the citywide art. 7.6.3.4 rule that premises in residential buildings "contarán siempre con acceso independiente"; the stronger common-circulation exclusion of art. 7.1.4.4 is expressly displaced for hospedaje, so do not attribute a portal/lift separation to it. Any nights-per-year threshold is unsourced — data not publicly available; verify at Ayuntamiento de Madrid (2026-08-07 verified). National Ventanilla Única / VUD ID required from 2025. Band: 🟠 BCN Zone 2 (time-decay 2028); 🔴 BCN Zone 1 + MAD Centro. [Ajuntament Barcelona PEUAT](https://ajuntament.barcelona.cat/pla-allotjaments-turistics/en) · [Generalitat IEET](https://atc.gencat.cat/web/.content/atc_tributs/ieet/documents/IEET-info-rates-en.pdf) · [Madrid PEH](https://www.madrid.es/portales/munimadrid/es/Inicio/Vivienda-y-urbanismo/Urbanismo/Plan-Especial-de-regulacion-del-uso-de-servicios-terciarios-en-la-clase-de-hospedaje/?vgnextfmt=default&vgnextoid=b71cbc8d3c9f4610VgnVCM1000001d4a900aRCRD&vgnextchannel=2af331d3b28fe410VgnVCM1000000b205a0aRCRD). **PT** — Decree-Law 76/2024 eff 1 Nov 2024 repealed Mais Habitação freeze + 5-yr renewal; max 27 guests/9 rooms/unit; municipalities retain "áreas de contenção" power. Lisbon TMT raised to €4/pp/n (Sept 2024), cap 7 nights. Porto TMT €3/pp/n. **Lisbon RMAL 2nd amendment (Aviso 29926-A/2025/2, in force 6 Dec 2025)**: absolute containment where AL/permanent-housing ratio ≥10% — Santa Maria Maior 66.9%, Misericórdia 43.8% (reclassified from relative), Santo António 25.1%; relative containment 5-10%. **Transmission → caducidade** in BOTH zones: transferring a house/apartment-mode AL registration triggers expiry — the buyer must file a fresh registration (in relative zones subject to exceptional authorisation). Bairro-level classification (incl. Príncipe Real / Graça / Bica) is reassessed biennially with monthly monitoring — verify the current Anexo IV. Porto containment freguesias (Reg. 495-A/2023, back in force via Reg. 1462/2024, 19 Dec 2024): Vitória / São Nicolau / Sé / Santo Ildefonso / Miragaia (2023 launch ratios 60.5 / 48.3 / 44.1 / 38.3 / 21.8 %, Porto.pt via secondary; recomputed over time — verify at CM Porto AL map); **Cedofeita (9.8 % at 2023 launch) = sustainable-growth (new AL within a numerus clausus)**. Band: 🔴 Lisbon containment + sale-trigger; 🟢 Porto Cedofeita; 🟡-🟠 Algarve Albufeira/Lagos. [Renascença Lisbon AL](https://rr.pt/fotoreportagem/pais/2024/07/02/lisboa-fechou-o-centro-ao-alojamento-local-mas-deixou-a-porta-aberta-a-41-novos-hoteis/383878/) · [DR Aviso 29926-A/2025/2](https://diariodarepublica.pt/dr/detalhe/aviso/29926-a-2025-964380181) · [DN Porto Cedofeita freed](https://www.dn.pt/local-geral/porto-retoma-regulamento-do-alojamento-local-e-liberta-bonfim-e-cedofeita). **IT** — National **CIN (Codice Identificativo Nazionale)** portal declared operational by Avviso in Gazzetta Ufficiale 3 Sep 2024 (rules applicable 2 Nov 2024; earlier region-by-region pilot), mandatory display from **1 Jan 2025**; fines €800-€8,000 no CIN + €500-€5,000 non-display. **Florence STR regolamento (Del. C.C. 27/2025, in force 31 May 2025; underlying Variante al Piano Operativo Del. C.C. 19 & 20/2025) IN FORCE + court-upheld** — bans NEW short-term rentals in the UNESCO Nucleo Storico (Zona A); units legally let in 2024 may continue only under a transitional derogation expiring 31 May 2028; adds 5-yr authorisations, 28 m² minimum, €1,000-€10,000 sanctions (owner+unit tie and keybox ban per secondary reporting — verify in the regolamento). Corte Cost. sent. 186/2025 + TAR Toscana (Firenze Sez. I) 14 May 2026 (19 appeals dismissed, sent. 916 & 925/2026) upheld it, as did TAR Toscana sent. 1752/2026 (9 Sep 2026), which however exempts uses whose building title formed before the Variante's adoption; EXTENDED to A3/A4 subzones (67,780 homes / 11.21 km²) blocking new STR authorisations from 21 Jun 2026 (Del. C.C. 28 del 4 Jun 2026). Rome contributo di soggiorno €3-10/n by class first 10 nights. Venice Contributo di Accesso €5 day-tripper (€10 within 3 days), 2026 dates 3 Apr–26 Jul Fri-Sun + special weeks. **Milan 2026 imposta di soggiorno** (Olympic-year uplift, Del. GC 1418/2025 from 1 Jan 2026, redefined by Del. GC 144/2026 from 1 Apr 2026): locazioni brevi / B&B €9.50/n per person (2026 data, source Confcommercio Milano, secondary — verify at comune.milano.it); 2027 rates: data not publicly available. Band: 🟢 Rome CIN-compliant; 🔴 Florence centro storico (new-STR ban, court-confirmed); 🟠 Venice (moratorium pressure). [Ministero Turismo CIN](https://bdsr.ministeroturismo.gov.it/) · [Comune di Firenze STR extension](https://www.comune.firenze.it/novita/area-stampa/comunicati-stampa/modifica-al-regolamento-affitti-turistici-brevi-il-consiglio) · [DirittoPA TAR/Corte Cost.](https://www.dirittopa.it/it/interventi/urbanistica/affitti-turistici-e-poteri-di-regolazione-comunale) · [Venice CdA](https://cda.ve.it/en/). **GR** — **Climate Resilience Levy** since 2024, raised 1 Jan 2025: STR €8/n high season (Apr-Oct) / €2 low; STR detached houses over 80 m² €15 high / €4 low; licensed tourist villas €15 / €4 (2024 data, source L.5162/2024 art. 24, FEK A' 198/2024 via AADE). AADE Property Number mandatory; STR national standards (safety + fire + civil liability) eff **1 Oct 2025**. **Athens 1st/2nd/3rd Municipal Districts AMA freeze 1 Jan 2025 — extended through 2026** (L.4446/2016 art.111 par.2A, re-worded by L.5313/2026 art.5; PM announced a 31 Dec 2027 extension Sep 2026, news-tier, not yet in enacted text read); **Thessaloniki A' Municipal Community first-registration freeze 1 Jul–31 Dec 2026** (L.5313/2026 art.5 par.2B); Athens freeze zone: ~8% AMA drop (29,500 → 27,000 central). Cyclades: **Special Spatial Framework for Tourism gazetted 7 Aug 2026** (JMD ΥΠΕΝ/ΔΝΕΠ/89997/3071/2026, ΦΕΚ Δ' 658/07.08.2026) — caps NEW tourist accommodation at 100 beds/unit on island Groups II-III and 350 on category-B islands; the 20-30% bed-cut figure is news-tier and appears in no gazetted text; the STR limb is enabling-only, so no live Cyclades STR freeze. Santorini/Mykonos new building restrictions from Nov 2025. Band: 🔴 Athens central; 🟠 Cyclades (new-build caps gazetted; STR limb awaits implementing acts). [AADE STR](https://www.aade.gr/en/short-term-rental) · [ShortTermRentalz Athens freeze](https://shorttermrentalz.com/news/athens-new-str-licences-ban-2025/) · [ProtoThema 30% Cyclades](https://en.protothema.gr/2026/04/07/30-cut-to-tourist-beds-in-the-cyclades-clampdown-on-airbnb-as-well/). **CY** — Law 9(I)/2020 amending 34(I)/2019: 3-year self-catering licence required from Deputy Ministry of Tourism; fines up to €5,000 + 1yr prison; registration number must display. VAT 9% reduced for short-term accommodation (vs 19% standard); €15,600 registration threshold. **No district-level moratoria**; **no national tourist tax currently in force** (€2.50/n proposal not enacted). 2025 enforcement crackdown intensified. Band: 🟢 clean regulatory map. [gov.cy registration](https://www.gov.cy/tourism/en/mi-katigoriopoiimeno/registration-of-self-service-accommodations-in-the-registry-of-the-deputy-ministry-of-tourism/). **MT** — Holiday Furnished Premises Licence under Travel and Tourism Services Act Cap. 409; **Eco-contribution tripled to €1.50/pp/n in 2025** (was €0.50), age ≥18, cap on stay applies (re-verify post-2025 hike at mtca.gov.mt). VAT 7% reduced on hotel/HFP accommodation. **No zone-level moratoria.** Valletta UNESCO core: HFP issuance subject to MTA technical inspection (fire egress / room sizes / sanitary). Yield compression structural, not regulatory (Sliema 2.2-3% gross; Valletta 1.15-2.46%). Band: 🔴 yield (not regulation). [MTA HFP](https://mta.com.mt/application-for-a-holiday-furnished-premises-licence/) · [MTCA ECO](https://mtca.gov.mt/business-tax/eco/eco-on-accommodation). ### Eastern Europe + Balkans + Baltics **PL** — No national STR day cap; no Warsaw tourist tax (opłata miejscowa only in Zakopane/Gdańsk-coast/Kraków-Swoszowice); enforcement near-zero (0/10,276 Warsaw + 0/7,280 Kraków listings licensed). EU Reg 2024/1028 listing-ID required May 2026. Band: 🟡 light enforcement, EU sweep incoming. [Lodge Compliance PL](https://www.lodgecompliance.com/countries/poland). **CZ** — Prague poplatek za pobyt **CZK 50/n** (nights 1-10), CZK 25/n (11-60); proposal to double cap to CZK 100/n early 2025 not enacted. Prague 1 pushing Hotel Act amendment; not enacted. Band: 🟡 regulation in flight. [Prague.org tax guide](https://prague.org/prague-city-tax-guide/). **SK** — Bratislava daň za ubytovanie €3.50/n Staré Mesto, €3.00/n other districts (VZN 4/2023 eff 1 Jul 2023); cap 60 nights/yr/guest. No STR cap. Band: 🟢 light-touch. [bratislava.sk](https://bratislava.sk/en/city-of-bratislava/taxes-and-levies/tourist-tax). **HU** — Budapest **District VI (Terézváros)**: referendum 2-15 Sep 2024 (20.52% turnout, 54% in favor); **Decree 26/2024 (X.31) → STR allowable days/yr = ZERO from 1 Jan 2026**, upheld by Hungarian Supreme Court. District VII (Erzsébetváros): building decree 33/2025 (IX.24) caps NEW commercial accommodation at **10% of a building's residential floor area** (in force 25 Sep 2025); decree 46/2025 (XII.10) sets STR usable days/yr to **ZERO from 1 Jan 2026 unless a társasház agreement exists (then 365)**, with fines of HUF 200,000 (natural person) / HUF 2,000,000 (legal person) plus a 45-day closure; units registered by 31 Dec 2025 must file the agreement by 31 Dec 2026 (2026 data, source net.jogtar.hu Erzsébetváros 46/2025). Budapest-wide (not national) moratorium on new magánszálláshely / egyéb szálláshely registrations 1 Jan 2025 – 31 Dec 2026 (2026 data, secondary: nwapartments.hu Aug 2026; see HU playbook `--rental`). Airbnb flat tax per room **quadrupled 2024**. IFA 4% Budapest tourist tax. Band: 🔴 District VI (zero-day live 1 Jan 2026); 🔴 District VII without a társasház agreement (zero-day); 🟠 District VII with one. [terezvaros.hu](https://terezvaros.hu/ugyintezes/kereskedelmi-ugyek/tajekoztatas-a-szallashelyeket-2026-januar-1-jetol-erinto-onkormanyzati-szabalyozasrol) · [hungarytoday.hu Supreme Court](https://hungarytoday.hu/supreme-court-upholds-budapest-districts-ban-on-short-term-rentals/). **RO** — No federal STR cap; mandatory ANT structură de cazare turistică classification; ANAF crackdown identified 22,000+ unreported hosts 2023-2024. Bucharest sector-level tax variance. 10% flat PIT. Band: 🟢 yield; 🟡 tax-enforcement risk. [Airbnb RO Tax Guide 2025](https://assets.airbnb.com/help/Airbnb_TaxGuide2025_Romania_ENGLISH.pdf). **BG** — Sofia turisticheski danak BGN 0.20-3.00/n band; 2024-2025 proposal to ~triple rates not enacted. No zone cap. Band: 🟢-🟡. [MOF BG](https://www.minfin.bg/en/781). **HR** — 2024 amendment to Zakon o ugostiteljskoj djelatnosti (eff 1 Jan 2025): **66% co-owner consent for new STR registration** + **80% retention threshold within 5 years** (two distinct provisions — sources reconcile both apply at different stages; verify at Narodne novine). **180-day cap** for non-professional landlords. Tourist tax €1.00-€2.20/n by zone+season. **Dubrovnik Stari Grad moratorium on new registrations 2023, extended through 2025** = 🔴 new entries blocked. Hvar/Split UNESCO cores no documented moratorium but premium pricing without zone-protection. Band: 🔴 Dubrovnik; 🟠 Split; 🟢 Zagreb. [gov.hr](https://gov.hr/en/tourist-tax/1520) · [bne IntelliNews HR](https://www.intellinews.com/croatia-moves-to-restrict-airbnbs-to-address-housing-crisis-340368/). **SI** — Tourist tax + promo fee Ljubljana €2.50 + 25% = €3.13/n. **2024 STR law (phased 2026-2027)**: **150-day/yr cap single/two-unit dwellings + 60-day/yr cap apartments in multi-unit buildings** (municipalities flex 30-90 multi or 30-180 single). Ljubljana confirmed 60-day scope from 2027. Band: 🔴 Ljubljana from 2027 STR-centric. [sloveniatimes.com](https://sloveniatimes.com/44213/law-targets-overtourism-and-housing-crunch-with-rental-caps). **BA / ME / RS / MK** — Sarajevo BAM 2/n; Kotor/Budva/Tivat €1/n; Belgrade RSD 130-160/n; Skopje not publicly available — all light-touch regimes, no zone-cap. Band: 🟢-🟡 across the bloc. **AL** — **DIVA digital tax platform mandatory 1 Jan 2026**; 15% flat STR tax, annual deadline 31 Mar; no NIPT required. Band: 🟡 formalization 2026 (tightens net yield). [HLB Albania](https://www.hlb.al/short-term-rentals-in-albania-new-tax-reporting-obligations-from-2026/). **EE** — Mandatory STR registration since **Jul 2025** (EU Reg 2024/1028 alignment); 22% income tax; Tallinn accommodation licence + Vanalinn (Old Town) cap **incoming** (announced, mechanism not finalized). Band: 🟠 Vanalinn pending; 🟡 elsewhere. [Cobalt Legal 2025](https://www.cobalt.legal/news-cases/key-amendments-in-estonian-tax-legislation-in-2025/). **LV** — Riga tourist tax €1/n cap €10 (10 nights) eff Jan 2023; no zone cap; STR national framework in progress. **Riga Vecrīga 7.95-9.81% gross yield** (highest in Baltics). Band: 🟢 light regime. [riga.lv](https://www.riga.lv/en/article/riga-introducing-tourist-charge-next-year). **LT** — Vilnius tourist tax **€2/n eff 1 Jan 2024** (raised from €1); no zone cap; uniform citywide. Band: 🟢. [govilnius.lt](https://www.govilnius.lt/plan-your-trip/city-tax). ### Americas **US** — Airbnb host-only 15.5% national; Vacasa 25-35% (effective 40%+ with add-ons). **NYC LL18 (Local Law 18 of 2022)**: Final Rules eff **6 Mar 2023**; platform enforcement began **5 Sep 2023**. Host-present + registration required for <30-day stays → listings ↓~83% citywide one year after enforcement (AirDNA, secondary; outer-borough figure not traced to a primary source — verify at OSE annual report). SF 90-day unhosted cap. LA HSO primary residence only; 120-day cap on Regular registration, Extended Home-Sharing registration required beyond 120 days (2026 data, source LA City Planning Home-Sharing Administrative Guidelines). Santa Monica <30d hosted-only. **Miami Beach STR restriction IN FORCE + enforced** (LDR Ch.142 §142-1111 bars rentals under 6 months + 1 day in single-family + many multifamily residential zones; Business Tax Receipt required to operate legally; violators evicted + fined). No "Aug 2025" ruling exists — the real event is *Nichols v. City of Miami Beach* (Judge Hanzman, Oct 2019), affirmed by the 3d DCA Jul 2020, which struck only the escalating fine schedule for exceeding Fla. Stat. §162.09 code-fine caps; appeal already decided (Hanzman left the bench 2023). Current fine amount reported inconsistently by 2025-26 aggregators (state-cap $1k-$5k/day vs $20k+) — verify with City. (Goldwater Institute / natlawreview read the 2020 ruling as voiding the prohibition entirely; the City's 2026 page + Avalara show the restriction still enforced — primary source controls.) **Honolulu Bill 41 / Ord 22-7** (eff 23 Oct 2022): raised STR min stay 30→90 days outside resort zones. HILSTRA v. Honolulu — Judge Watson granted a preliminary injunction 13 Oct 2022, then a permanent injunction 21 Dec 2023 grandfathering only 30-89-day rentals lawfully operating at the 23 Oct 2022 effective date (post-2022 STRs not protected). Ord 25-2 / CO 25-02 (signed 3 Jan 2025, eff 30 Sep 2025) re-enacted the 90-day minimum with no carve-outs; DPP still enforces only the <30-day standard. Band: 🔴 NYC + LA + SF for non-resident foreign buyer. [NYC OSE Registration](https://www.nyc.gov/site/specialenforcement/registration-law/registration.page) · [City of Miami Beach Practice Safe Renting](https://apps.miamibeachfl.gov/practicesaferenting) · [Haber Law — 2019 Miami Beach ruling](https://www.haber.law/short-term-rentals-ruled-illegal-in-miami-beach-now-what/) · [Honolulu Board of REALTORS STR Update](https://members.hicentral.com/images/Documents/3-STR-Update-AF04112025.pdf). **CA** — Toronto principal-residence rule citywide + $375 annual registration (from 1 Jan 2025) + entire-home 180-night cap. **BC Short-Term Rental Accommodations Act eff 1 May 2024**: principal residence + secondary suite/laneway only; provincial registry mandatory 2 Jun 2025; municipal licence 1 Oct 2024. Montréal CITQ mandatory + $2M liability insurance proof; compliance jumped 58% → 90% Jan-Feb 2024. Band: 🔴 non-resident foreign buyer (principal-residence rule blocks). [Toronto STR](https://www.toronto.ca/community-people/housing-shelter/rental-housing-rights-information/short-term-rentals/short-term-rental-operators-hosts/) · [BC May 2024 rules](https://news.gov.bc.ca/releases/2024HOUS0020-000590) · [CITQ legal provisions](https://citq.qc.ca/en/enregistrement_dispositionslegislatives.php). **MX** — **CDMX Tourism Law Reform** published Gaceta Oficial **4 Apr 2024** (NOT "2022"); implementing reglamento 25 Sep 2024 + further reforms 3 Oct 2024. **50% annual occupancy cap on STR units registered via digital platforms** — loss of registration if exceeded. Host + platform registries mandatory. Social-housing + post-2017 quake reconstruction prohibited from STR. Q-Roo ISH (Ley del Impuesto al Hospedaje art. 8, Decreto 030 POE 23-12-2022, art. 8 in force 1 Apr 2023): 5% general + **6% on private departments / houses / villas (art. 4 fr. V), charged by whoever collects, Anfitrión or digital platform** + VISITAX 2.50 UMA per foreign visitor on entry (Ley de Derechos art. 51-Octies; southern-border entrants exempt; peso amount data not publicly available — verify at SATQ). The USD 5 charge is a separate cruise-passenger derecho (art. 51-Nonies) that credits against VISITAX. Band: 🟠 CDMX (50% cap nullifies most STR upside); 🟡 Q-Roo. [CCN-Law CDMX summary](https://ccn-law.com/en/mexico-enacts-amendments-to-mexico-citys-tourism-law-and-rules-for-private-lodging-accommodations/) · [Q-Roo ISH Law](https://satq.qroo.gob.mx/contenidos/dmarcolegal/53f80d58-d367-11ef-b142-005056a29996). **BR** — Airbnb host fee **16% (above 15.5% global)**. ISS 2-5% by municipality; Salvador / Petrópolis / Olímpia / Ponta Grossa approved on STR; São Paulo / Rio / Florianópolis pending. **Tax reform 2026+**: IBS/CBS phase-in; from 2027, IBS applies to individuals with **>3 properties + >R$240k/yr rental** — combined effective tax up to **44.3%**. Condominium convenção is de-facto regulator; STJ rulings favor condo prohibitions. Band: 🟡 single-property; 🟠 multi-property professional post-2027. [Domingues e Pinho tax reform](https://www.dpc.com.br/tax-reform-what-changes-for-individuals-in-the-rent-and-sale-of-real-estate/?lang=en). **AR** — CABA Ley 6255 + **Resolución 8/ENTUR/2025 (Feb 2025)**: new 180-day owner-registration deadline from 3 Feb 2025; mandatory registration number on all listings; DUU (Derecho de Uso Urbano) per Ley 6278 — foreign tourists >12y pay a per-night unit fee (1 DUU = US$1 at the official Banco Nación selling rate): alquileres temporarios 0.75 unit (~US$0.75/n), 5-star hotels 1.5 units (~US$1.50/n). Band: 🟢 yield mechanics; 🟡 FX/capital-controls overlay. [CEDOM Ley 6255](https://www.cedom.gob.ar/legislacion/normas/leyes/RepoLeyes/ley6278.html) · [Boletín Oficial CABA Res. 8/2025](https://boletinoficial.buenosaires.gob.ar/normativaba/norma/501695). **UY** — Punta del Este high seasonality (Jan-Feb); IVA 22% on STR services; STR falls under the national Ley 20.352 Registro de Operadores Turísticos (Mintur), reglamentary decree still draft as of 2026-09-24 — not a Maldonado 'operador receptivo' requirement. Band: 🟡 concentration risk. **CL** — IVA 19% on furnished STR but **foreign-tourist exemption** (Art. 12 letra E n°17 LIVS) when guest is non-resident + foreign-currency-denominated + SII-registered. Las Condes / Providencia / Vitacura commune-level rules tightening 2024-2026 (not centrally indexed). Band: 🟢 foreign-tourist-mix portfolio. [SII Chile FAQ](https://www.sii.cl/preguntas_frecuentes/impuestos_mensuales/001_130_0792.htm). **CO** — RNT mandatory; ANAF-equivalent crackdown on unlicensed (>1,700 Medellín units identified 2024). **Bogotá "Decreto 538/2024" 10% STR tax + Medellín "Acuerdo 056/2024" El Poblado restrictions: SPECIFIC ORDINANCE NUMBERS UNVERIFIED in primary search** — verify at alcaldiabogota.gov.co/sisjur and concejodemedellin.gov.co before relying. Band: 🟡 yield real, compliance + condo-veto risk high. **PE** — Lima IGV 18%; Miraflores/Barranco condo bans common; <1% listings hold licences (low enforcement). Band: 🟡. **EC** — Reglamento de Alojamiento Turístico en Inmuebles Habitacionales issued by **Acuerdo Ministerial MINTUR 2023-011, published in Registro Oficial No. 402 of 22 Sep 2023** and reformed by **Acuerdo Ministerial 2, Suplemento del Registro Oficial No. 548 of 30 Apr 2024**; MINTUR registration via SITURIN mandatory; IVA raised to 15% (from 12% in 2024). Band: 🟡. *(2023-2024 instruments, sourced from Ecuadorian government recitals of the gazette; 2026-09-18 verified — `verify the gazette text at [Registro Oficial](https://www.registroficial.gob.ec/)`, MINTUR's own host `turismo.gob.ec` is unreachable.)* **PA** — **National 45-day minimum rental rule** Panama City **except in designated tourism zones (Casco Viejo + parts of Santa Ana)**. ATP RNT + MIVIOT zoning certificate required. Band: 🟢 Casco Viejo; 🔴 elsewhere Panama City. **CR** — **13% IVA on STR <30 days**; mandatory ICT registration + Hacienda electronic invoicing (NITE); annual income >₡1M (~$1,800) triggers compliance. **Platforms data-share with Hacienda from 2026**. Band: 🟢 with full compliance. [Airbnb CR Tax Guide 2024](https://assets.airbnb.com/help/AirbnbTaxGuide2024_Costa_Rica_ENGLISH.pdf). **DO** — **NO national STR statute as of May 2026**; MITUR + Asonahores draft framework under finalization (Apr 2025 reporting); condo bylaws under Ley 5038 are de-facto regulator. ITBIS 18% on STR. (NOTE: DO = Dominican Republic; distinct from DM = Dominica, out of scope.) Band: 🟡 condo-dependent. [Dominican Today MITUR/Asonahores](https://dominicantoday.com/dr/local/2025/04/25/mitur-and-asonahores-finalize-airbnb-regulation-framework/). **JM** — TPDCo licensing voluntary but de-facto required for villa-scale (3-4 weeks processing); GCT 15% + GART $10/n villas 1-4 rooms / $20 5-20 / $30 >20. Band: 🟡. **BS** — VAT **10% since 2022** (not 12% as some references cite); DIR Vacation Rental Registration mandatory since Apr 2023. Band: 🟡. **BB** — **2.5% Room Rate Levy + 10% Shared Economy Levy** (NOT 8.75% as some references cite); BRA registration mandatory. Band: 🟡. [BRA tourism levies](https://bra.gov.bb/News/Press-Releases/Tourism-Sector-Reminded-to-File-an). **KY** (Cayman) — Airbnb host-only 15.5% + Vacasa-tier villa management 25-35% + **Tourist Accommodation Tax (TAT) 13%** on gross room rate (guest-paid, remitted to DoT within 28 days, **mandatory monthly occupancy report even if zero**) + catastrophe (windstorm) insurance + beachfront strata/HOA fees + hurricane-season void (Jun-Nov). **STR licence MANDATORY**: Tourism Accommodation Licence from the **Hotel Licensing Board (HLB)** via Dept of Tourism — three inspections (DoT + Environmental Health + Fire); fee **CI$250** (1-10 bed) + CI$25/bed >10; licence-year expires 31 Aug, renew by 1 May. Marketed gross ~**6-7%** SMB condos (1-bed often >7%) **collapses to ~2% net** after catastrophe insurance + strata — band 🔴 by **net-erosion** (>6 pp gross→net gap), not by regulatory restriction (regime is permissive). Strata bylaws may separately restrict STR — read before pricing. [ourcayman.ky TAT/licensing](https://www.ourcayman.ky/) (PRIMARY) · gross/net est. ERA Cayman 2025 (secondary — `est., verify per property`). Band: 🔴 (net-erosion). **BM** (Bermuda) — **REGULATORY-KILL for absentee buy-to-let**: a non-Bermudian owner may let only with the **Minister's PERMISSION**, "usually given provided the owner is living off the island" (secondary realtor/legal — verify at gov.bm) — i.e. you generally CANNOT freely buy-to-let as an absentee investor; the regime is built around **owner-occupation, not yield**. Vacation/short-term rentals separately regulated under a gov.bm "Vacation Rentals" registration regime (verify rules + any fee at gov.bm). **No primary government rental-yield index exists** — given ~US$1M+ entry, Land Tax up to 55% marginal on high ARV, hurricane insurance, and rainwater-tank maintenance, gross yields are LOW relative to capital value. **Do NOT publish a yield %**: `data not publicly available — no primary index; model off ≥3 comparable actual lettings + written letting-permission confirmation`. Band: 🔴 (regulatory-kill — Minister's-permission gate on foreign-owner letting). [gov.bm Vacation Rentals + Dept of Immigration](https://www.gov.bm/) (PRIMARY for regime; fee/permission detail `verify`). **TC** (Turks & Caicos) — Airbnb host-only 15.5% + full-service Grace Bay villa/resort-condo management 25-35% + **Hotel & Tourism Accommodation Tax (HTT) 12%** on short-term accommodation (hosts collect 12%, retain records 7 years) + among-region's-highest power **~$0.45/kWh (Jan 2026, Pelican Energy TCI)** + catastrophe insurance + hurricane void (Irma 2017 = Cat-5 calibration). **STR compliance gate**: Accommodation Licensing via the Turks & Caicos Tourist Board (verify current requirement + any fee). USD-denominated = zero FX risk. **Grace Bay managed-rental trap**: a resort-condo's price embeds the rental-programme + brand value — owner NET economics diverge sharply from headline yield; underwrite off the development's actual owner-distribution statement, not the marketed gross. **Do NOT publish a yield %** — compute net only from a specific property's verified nightly rate × realistic occupancy minus the stack above. Band: 🟠 (marketed gross materially overstates net via 12% HTT + 25-35% mgmt + high utilities; regime permissive). [gov.tc HTT](https://www.gov.tc/revenue/htt) (PRIMARY) · [TCI Tourist Board accommodation licensing](https://turksandcaicostourism.com/accommodation-licensing/) (secondary — `verify`). **VG** (BVI) — Airbnb host-only 15.5% + full-service villa management ~20-30% + **Hotel Accommodation Tax 10%** (guest-paid, stays ≤6 months, on rental proceeds, **paid monthly** — per industry guides, `verify rate + filing at bvi.gov.vg / Inland Revenue`) + **house tax 1.5%** + post-Irma insurance (high, sometimes unobtainable) + hurricane-season void (Aug-Oct). **STR right may be CONDITIONAL, not automatic**: a commercial let generally requires a **Trade Licence**, and some Non-Belonger Land Holding Licences (NBLHL) carry a condition that the owner must obtain a Trade Licence BEFORE the property may be let — confirm against the specific NBLHL before pricing any rental thesis. **No official yield series** — aggregator cites ~$1,704/night villa / ~$1,371 apartment (HomeToGo/Vrbo — `secondary, verify`); high season Dec-Apr. **Do NOT publish a headline yield %.** Band: 🟠 (10% accommodation tax + ~25% mgmt + 1.5% house tax + gating insurance; STR right conditional on Trade Licence/NBLHL). [bvi.gov.vg Inland Revenue](https://bvi.gov.vg/) (PRIMARY for tax — `verify rate`); STR conditionality per practitioner guidance (`verify NBLHL conditions`). **KN** (St Kitts & Nevis) — Airbnb host-only 15.5% + villa/hotel-pool management 25-35% + accommodation taxed under the **VAT Act Cap 18.47** (KN VAT standard ~17% / reduced rate on hotel accommodation — `verify current rate at sknird.com`) **+ Island Enhancement Fund (IEF) Act Cap 20.51** levy (historic CHTA-cited room tax ~7%) + hurricane insurance + hurricane-season void (Jun-Nov). **IRD compliance drive live** (Jan 2025 press release — STR platforms named Airbnb/Vrbo/Booking/Expedia; voluntary back-tax window to 28 Feb 2025) → assume enforcement is tightening, budget the VAT+IEF stack into net. Tourism-driven villa market (Frigate Bay, Christophe Harbour, Nevis); long-let market thin. Aggregator gross **~2-5%** (≈4% avg) / net ~3-6% (`est., aggregator-level — no official index`); **CBI condo hotel-pool returns are seller-controlled** (`est., developer projection — request actuals`) and the bundled-citizenship premium in the price depresses effective yield. **7-year CBI hold locks the unit** (cannot freely flip for resale yield within the window). Band: 🟡 (VAT+IEF compliance burden rising but achievable; condo/HOA + 7-yr-hold overlay). [sknird.com STR compliance / VAT Act Cap 18.47 + IEF Cap 20.51](https://www.sknird.com/acknowledging-taxpayer-cooperation-in-short-term-rental-compliance) (PRIMARY). **AG** (Antigua & Barbuda) — Airbnb host-only 15.5% + villa management 25-35% + **ABST (Antigua & Barbuda Sales Tax) on holiday/hotel accommodation raised to 17% from 1 Jan 2024** (was 14% Mar 2020-Dec 2023; standard ABST also 17% — per theiGuides June-2024 corp-tax summary; some 2026 aggregators still cite 14%/15% so `verify current rate at ird.gov.ag`) **+ Tourism Guest Levy ~US$5/guest/night** (added to bill on arrival, NOT in advertised rate — secondary/Tamarind Hills, `verify at IRD`) + customary 10% service charge + hurricane insurance + salt-air maintenance + hurricane-season void. Tourism ≈60% of GDP; demand concentrated Dec-Apr. **STR demand strong but NET is materially below gross**: one aggregator models ~5% gross → **~3.2% net** (insurance + salt-air + mgmt drag); **Airbtics Feb 2025-Jan 2026 ~1,597 listings, ~55% occupancy** (⚠️ "median monthly revenue ~US$15k" is a PEAK-month figure, NOT annualised). **CBI 5-year resale lock** (but property CAN be let during the hold). **Compute net; never quote gross alone.** Band: 🟠 (17% ABST + US$5/n guest levy + 25-35% mgmt + insurance/salt-air → marketed gross substantially overstates net). [ird.gov.ag ABST FAQ](https://ird.gov.ag/wp-content/uploads/2020/06/Frequently_asked_questions_ABST.pdf) + [theiGuides AG corp tax June 2024 (17% from 1 Jan 2024)](http://admin.theiguides.org/Media/Documents/AG%20TaxCorp%20-%20June%202024.pdf) (PRIMARY-tier — `verify current %`). **LC** (Saint Lucia) — Airbnb host-only 15.5% + managed-villa fees 25-35% + **VAT reduced rate 7% on tourism accommodation** (from 1 Dec 2020; standard VAT 12.5%; old Hotel Accommodation Tax Act Cap.15.10 was repealed by VAT) **+ Tourism Levy US$3/pp/night (ADR ≤US$120) or US$6/pp/night (>US$120)** under the **Tourism Levy Act No. 11 of 2020** (50% for ages 12-17, free <12; collected by registered accommodation providers, remitted to the SLTA) **+ Health & Citizen Security Levy 2.5%** + hurricane insurance + hurricane-season void (Jun-Nov). Rodney Bay / Cap Estate / Gros Islet (NW) is the dominant holiday-let corridor; **NW expat zone is well clear of the Soufrière volcanic hazard**. **No public/government yield dataset exists** — `gross yield data not publicly available — derive from a property-specific operator P&L; treat any agent-quoted yield as marketing`. **CBI-project "guaranteed return" caution**: OECS 2024 reforms moved to restrict guaranteed buy-backs/returns — verify whether St Lucia's CBI rules now prohibit guaranteed-return marketing before relying on any promised yield. Band: 🟡 (7% VAT + US$3-6/pp/n levy + 2.5% HCSL + mgmt/insurance stack; no official yield index → require operator actuals). [Government of Saint Lucia — tourism levy + 7% accommodation VAT release](https://www.govt.lc/news/government-to-enacts-tourism-levy-for-tourism-marketing-and-development) + [saintluciatourismlevy.org (Act No. 11 of 2020)](https://saintluciatourismlevy.org) (PRIMARY). **GD** (Grenada) — Airbnb host-only 15.5% + managed tourism-villa fees ~20-30% + **VAT reduced rate 10% on hotel/tourism accommodation + dive operations** (standard VAT 15%; filed/paid via G-TAX by the 20th — IRD ird.gd) + **high GRENLEC power cost** + catastrophe (hurricane) insurance + vacancy/hurricane-season void. **Dual demand engine**: (1) **St. George's University (SGU)** medical school anchors deep long-let faculty/student demand (True Blue, Lance aux Épines, Grand Anse) — the single biggest non-tourism rental driver; (2) Grand Anse tourism short-lets. Rental income is taxable; **non-resident landlords face withholding — verify the current rate at ird.gd** (do not assert). **Airbnb Jan 2026 (Airbtics)**: ~804 active listings, ~47% occupancy, ~US$112 nightly, ~US$19k/yr median revenue, regs "Lenient" (`secondary aggregator — verify per property`). Long-let gross **~4-6%** (SGU catchment); managed tourism villas advertise higher headline figures but **NET is materially lower** after 20-30% mgmt + GRENLEC + insurance + vacancy + 10% accommodation VAT. **CBI "guaranteed buy-back"/guaranteed-rental-return schemes were PROHIBITED by the 2024 CBI amendment** — treat any promised fixed CBI yield with suspicion. **No official yield index** — tag all figures `est., aggregator-sourced`. Band: 🟡 (10% accommodation VAT + non-resident WHT + 20-30% mgmt + high power; SGU long-let anchor cushions seasonality; regime lenient). [ird.gd VAT (10% accommodation)](https://ird.gd/taxes/value-added-tax) (PRIMARY) · [Airbtics Grenada Jan 2026](https://airbtics.com/annual-airbnb-revenue-in-grenada-grenada) (secondary — `est.`). **TT** (Trinidad & Tobago) — Airbnb host-only 15.5% + villa/guesthouse management + **annual property tax 2% of Annual Taxable Value (ARV after a 10% deduction, ≈1.8% effective on ARV; cut from 3% by Act No. 3 of 2024) — collection began 2024 and was HALTED per the FY2026 Budget Statement (13 Oct 2025)** ([IRD](https://www.ird.gov.tt/news/amended-property-tax-notices-of-assessment) / [Budget Statement FY2026](https://www.finance.gov.tt/wp-content/uploads/2025/10/Budget-Statement-FY-2026-1.pdf)) + income tax on net rent (25% / 30% split at TT$1m chargeable, TT$90,000 allowance) + insurance + vacancy. **VAT 12.5% but residential rent is VAT-EXEMPT.** CGT applies **only to disposals within 12 months** (then as income); longer holds untaxed. The **Landlord Business Surcharge** (Finance Act 2025 = Act No. 14 of 2025, eff 1 Jan 2026; 2.5% on first TT$20,000 quarterly gross rent / 3.5% above) is **CREDITABLE against the landlord's annual income tax** — for a compliant landlord it is a **cash-flow/timing cost + a one-time TT$2,500 BIR registration fee (deadline 30 May 2026), NOT a 2.5–3.5% yield haircut**. **The structural drag is FX, not regulation**: the TTD is a managed float (~TTD 6.74–6.78/USD), there is **no legal repatriation bar, but a genuine multi-year USD shortage means authorised dealers RATION forex** — rent collected in TTD is easy to spend locally, but converting accumulated net income to USD for remittance can be slow/rationed (the single biggest practical exit risk — [EUROCHAMTT](https://eurochamtt.org/), [IMF 2026 Art IV](https://www.imf.org/en/Countries/TTO)). Active long-let market (West Trinidad corporate/energy-expat — Westmoorings/Maraval/One Woodbrook Place, often USD-denominated; Tobago holiday/long-stay). **STR-specific licensing not verified at primary** — `data not publicly available — verify with` [Tourism Trinidad](https://www.tourismtrinidad.com/) `/ the Tobago Tourism Agency`. **No dated gross-yield figure published** (GPG returned 403) — `data not publicly available — derive from the` [CBTT RPPI](https://www.central-bank.org.tt/) `+ brokerage rent data, net of any property tax IRD confirms for the year (statutory 2% of ATV, collection halted per FY2026 Budget Statement) + income tax + the surcharge timing cost`. Band: 🟡 (no STR regulatory-kill; USD-rationing repatriation drag is the structural risk + no dated yield index → require operator data; property-tax + income-tax stack underwritten transparently). [tax.mygovtt.com](https://tax.mygovtt.com/) (PRIMARY — property tax/VAT) · [CBTT](https://www.central-bank.org.tt/) (PRIMARY — FX/RPPI). ### Asia + Oceania **JP** — **Minpaku Law (Act on Private Lodging Business, Act 65 of 2017)** eff 15 Jun 2018: **180-night/yr cap** nationwide (FY = noon 1 Apr to noon 1 Apr). Hotel tax overhaul 2025-2027: Osaka tiered shift 1 Sep 2025 (¥200/¥400/¥500 by ADR); Kyoto **top band 10× (¥1,000 → ¥10,000) from 1 Mar 2026**; Tokyo **3% from FY2027** (announced 2025-11-27, replacing tiered ¥100-200). Shibuya/Shinjuku/Minato: weekend/holiday-only in Category 1 & 2 low-rise residential; Kyoto 住居専用地域: 15 Jan noon–16 Mar noon only, with a 2026 素案 for 0 days on new filings (proposed, not enacted). **Osaka Tokku Minpaku Zone** (Minato/Nishi/Chuo wards): 2-night minimum, **no 180-day cap** (separate regime). Band: 🟡 outside Tokku; 🟠 inside residential ward weekend-only zones. [mlit.go.jp Minpaku law](https://www.mlit.go.jp/kankocho/minpaku/overview/minpaku/law1_en.html) · [japantimes.co.jp Tokyo 3%](https://www.japantimes.co.jp/news/2025/11/27/japan/accommodation-tax-fixed-rate-tokyo/) · [nippon.com Kyoto hike](https://www.nippon.com/en/japan-data/h02298/kyoto-targets-big-spenders-with-lodging-tax-hike.html). **KR** — Urban Homestay Business for Foreign Tourists (외국인관광도시민박업): owner-occupied + **foreign-guests-only** + max 230 m²; Hanokstay both nationalities. **All KR listings must submit gov-verified business licence by 16 Oct 2025**; un-verified blocked. Band: 🟠 foreigners-only structurally restrictive. [airbnb.com/help/article/1387](https://www.airbnb.com/help/article/1387). **CN** — **Airbnb domestic suspended 30 Jul 2022**; foreign buyer 1-yr residency required; PSB 24h guest registration. STR-as-investment thesis structurally weak. Band: 🔴 skip. **HK** — **<28 consecutive days = illegal** without Hotel & Guesthouse licence under **Cap. 349 Hotel and Guesthouse Accommodation Ordinance**; fine up to **HK$200,000 + 2 years imprisonment**. Hotel Accommodation Tax suspended 1 Jul 2008. ≥28-day "serviced apartment" path legal. Band: 🔴 <28d; 🟡 ≥28d serviced. [elegislation.gov.hk Cap 349](https://www.elegislation.gov.hk/hk/cap349). **TW** — 民宿管理辦法 Homestay Management Regulation: operator-occupied + designated rural/cultural-tourism zones only + max 15 rooms (8 urban-fringe). Taipei Da'an/Xinyi/Zhongshan residential STR effectively illegal. ~90% Taipei listings illegal. Band: 🔴 urban residential. **SG** — **Minimum 3 consecutive months private / 6 months HDB** (URA rule, revised down from 6mo Jun 2017) citywide — STR home-sharing structurally banned. GST 9%. Band: 🟠 (3mo serviced-let only). [ura.gov.sg](https://www.ura.gov.sg/Corporate/Property/Residential/Short-Term-Accommodation). **MY** — Tourism Tax **RM 10/room/n** foreign-tourist-only; SST 8% on accommodation (from 1 Mar 2024). Penang strata STR under the state TIP guideline in force 1 Apr 2023 (full implementation 1 Mar 2024): Malaysian-citizen owner and operator only; MBPP Island whitelists only serviced apartments / SoHo / SoFo / SoVo / office suite / office duplex, so Island residential strata is effectively barred (2023 data, source MBPP). **2025 Court of Appeal *Wawasan Raya Sdn Bhd v MARC Service Residence MC*** clarified MC powers — STR-prohibitive private covenants enforceable under specific tests. Band: 🟡 KL strata where MC permits; 🔴 Penang Island residential strata, and any Penang strata STR by a foreign owner. [rdslawpartners.com 2025 ruling](https://www.rdslawpartners.com/post/court-of-appeal-s-ruling-brings-long-awaited-clarity-to-malaysia-s-short-term-rental-debate). **ID** — **Bali Provincial Levy IDR 150,000/foreign visitor** eff 14 Feb 2024 (Perda 6/2023). Pondok Wisata nationality bar (Permenpar 18/2016) and PT PMA eligibility for the villa code KBLI 55193: data not publicly available in primary text read — verify at Kemenpar JDIH, BKPM and OSS. **Bali Perda 4/2026 bars acting as intermediary or facilitator of nominee land control for foreigners** (Pasal 14), with administrative sanctions (Pasal 20; 20(5) only defers to criminal sanctions under other legislation); OTAs are to require NIB + KBLI + NKU via an OSS-linked API targeted for June 2027 (Kemenpar), with delisting of ~1,600 unlicensed operators announced from 1 Aug 2026 (ANTARA, secondary). Band: 🟡 PT PMA-compliant; 🔴 nominee path post-2026. [balipropertyrules.com](https://balipropertyrules.com/guides/bali-villa-licensing-foreigners/). **TH** — Hotel Act B.E. 2547 (2004) **§4**: accommodation <30 days requires Hotel Licence; penalty **THB 20,000 fine + 1yr imprisonment**. Bangkok/Phuket enforcement intensifying 2023-2026. Condo juristic-management increasingly banning <30d. Band: 🟡 where juristic permits + hotel-licence-aware; 🔴 unlicensed <30d. [samuiforsale.com Hotel Act](https://www.samuiforsale.com/law-texts/thailand-hotel-act-2004-translation.html). **VN** — **HCMC: Decision 19/2026/QĐ-UBND (eff. 25 Apr 2026) superseded the Decision 26/2025/QĐ-UBND bar on STR in ordinary residential apartments (eff. 27 Feb 2025)** — day/week apartment letting is now tourist accommodation (căn hộ du lịch), permitted only with tourist-lodging registration and compliance with housing / tax / residence / security / tourism / fire-safety rules (Art. 12); whether an ordinary residential unit qualifies turns on approved function + registration — verify per building. Hanoi: no city-level STR decision equivalent to HCMC's was identified at the 2026-07-02 check; business registration with DoF still required. Band: 🟠 HCMC residential (registration-conditional); 🟡 condotel. **PH** — DOT accreditation mandatory; Boracay carrying capacity capped 19,215 persons; DOT-Accredited Establishments with CAO. Condo-corp by-laws variably restrict Manila/Makati/BGC. Band: 🟡 where corp permits. **IN** — GST cut **22 Sep 2025**: **5% (no ITC) for rooms ≤₹7,500/n; 18% (with ITC) for >₹7,500/n** (was 12%/18%). Society/AOA by-laws can restrict in cooperative housing (esp. Maharashtra/Karnataka/Goa). Goa Tourism Dept registration + CRZ restrictions. Band: 🟡. [cleartax.in GST hospitality](https://cleartax.in/s/impact-of-gst-hospitality-industry). **LK** — Tourism Development Levy 1% (or 0.5% if turnover ≤LKR 12M/yr) under Finance Act 25 of 2003; SLTDA registration mandatory. Galle Fort UNESCO heritage stack adds friction. Band: 🟡. [sltda.gov.lk TDL](https://sltda.gov.lk/en/tourism-development-levy--notices). **PK** (Pakistan) — Airbnb host-only 15.5% + management + provincial property tax (on annual rental value, per-province valuation tables — `data not publicly available to primary this pass; verify at the provincial Excise & Taxation dept`) + vacancy. **Rental income is taxable under the Income Tax Ordinance 2001; rates / withholding on rent are FBR-set and change with EVERY Finance Act** — `verify current Finance Act at` [fbr.gov.pk](https://www.fbr.gov.pk/). **The practical market is the DIASPORA** (NRP/POC via the SBP Roshan Digital Account → Roshan Apna Ghar); RDA-channel investments are **fully repatriable** as a general SBP rule (whether this extends verbatim to property-sale proceeds is **inference — confirm with the bank/SBP**, [sbp.org.pk/RDAC/Ghar.html](https://www.sbp.org.pk/RDAC/Ghar.html)); non-RDA repatriation depends on documented inward-remittance provenance under the SBP FE Manual. **STR is a GRAY AREA** — Airbnb operates but **no dedicated national STR-licensing regime surfaced**; STR income IS taxable; treat as "lightly-regulated / gray, not banned" (`verify any provincial/municipal rule`); secondary blogs cite STR nightly ~30–50% above monthly-equivalent rent (directional only). Gross yields are **secondary aggregator only** (Global Property Guide; live page **403'd** to researcher + auditor): national **~6.53% (Q3 2025)**, Islamabad **~6.75%**, Lahore **~5.9%** (Gulberg 2-bed reported up to ~8%), long-let generally **~4–6% gross** — citable as a **directional secondary, never a primary fact; cross-check the live page** + net of vacancy + management + FBR tax. Band: 🟡 (STR gray-not-banned + FBR-rate Finance-Act volatility + secondary-only yields; diaspora/RDA repatriation channel is the load-bearing positive). [GlobalPropertyGuide Pakistan](https://www.globalpropertyguide.com/asia/pakistan/rental-yields) (secondary — `cross-check live page`) · [fbr.gov.pk](https://www.fbr.gov.pk/) (PRIMARY — `verify current Finance Act`). **AU** — **VIC Short Stay Levy 7.5%** of total booking fee eff **1 Jan 2025** (stays <28 days; principal residence + hotels exempt); 25% to regional. **NSW STRA Code**: register $65; Greater Sydney 180-day non-hosted cap (Eastern Harbour/Central River/Western Parkland); Code breaches are s 54C offence + s 54D civil-penalty provisions of the Fair Trading Act 1987 (maximum amounts: verify at legislation.nsw.gov.au). **Byron Shire 60-day non-hosted cap eff 23 Sep 2024**. Band: 🟠 Sydney non-hosted; 🟢 hosted; 🔴 Byron non-hosted. [sro.vic.gov.au short-stay-levy](https://www.sro.vic.gov.au/owning-property/short-stay-levy) · [planning.nsw.gov.au STRA](https://www.planning.nsw.gov.au/policy-and-legislation/housing/short-term-rental-accommodation). **NZ** — **Marketplace GST 15% collected by the online marketplace (IRD examples: Airbnb, Bookabach, Holiday Homes) from 1 Apr 2024** (8.5% flat-rate credit for non-registered hosts); Auckland **graduated general-rates + CATTR business-share uplift** on peer-to-peer STR — 29-135 nights = 75% residential / 25% business, 136-180 = 50/50, >180 = rated as business, counted over the 1 Jul - 30 Jun year; the **APTR itself has been suspended since 2020 and Auckland Council decided not to reinstate it for 2026/2027** (the original 2017/18-2018/19 APTR was upheld by the Supreme Court on 12 May 2023, [2023] NZSC 53) *(2026/2027 data, source Auckland Council; 2026-09-18 verified)*. **Queenstown Lakes night cap is zone-specific** (e.g. 90 nights/yr cumulative in Lower Density Suburban Residential, PDP std 7.5.18.1; beyond the zone's standards needs resource consent) + rates rated Mixed Use +25-35% under 180 days / Accommodation +50-80% at 181-365 days (2026 data, source QLDC). Band: 🟡 Auckland; 🟠 Queenstown. [findex.co.nz NZ app-tax](https://www.findex.co.nz/insights/article/app-tax-and-gst-changes-for-short-term-rentals) · [qldc.govt.nz STVA page](https://www.qldc.govt.nz/services/rates-property/short-term-visitor-accommodation). **FJ** — VAT 15% (raised from 9% 2023); ECAL 5% turnover (reduced from 10%, threshold FJD 3M); STT 6% suspended/varied; foreign-buyer freehold ban <1 acre town residential — leasehold or commercial-zoned only. Band: 🟡 Denarau leasehold. **VU** (Vanuatu) — Airbnb host-only 15.5% + management + ground rent + insurance + vacancy. **ZERO direct tax** (no income/corporate/CGT/inheritance/wealth/withholding tax — [VFIPA primary](https://investvanuatu.vu/untapped-potential/low-tax-jurisdiction/)), BUT the rental stack is **12.5% Rent Tax on GROSS rental income** (first VUV 200,000 exempt for individuals, 2×6-monthly returns, **no expense deductions** — [DCIR Rent Tax Act Cap 196](https://vanuatucustoms.gov.vu/taxes-and-licensing.htmlrent-tax.html), PRIMARY) on long-let; **residential rent is VAT-EXEMPT** but an STR let becomes a **15% VAT activity once turnover > VUV 4,000,000** ([DCIR Cap 247](https://vanuatucustoms.gov.vu/taxes-and-licensing.htmlvalue-added-tax-vat/introduction.html)). **No freehold — you own a registered lease with N years remaining + annual ground rent**, and **lease-term decay directly caps long-run rental value AND resale** (the #1 structural diligence item). **No specific national STR-licensing regime captured at primary** — `data not publicly available; verify at the` [Dept of Tourism](https://tourism.gov.vu/) `+ municipal council`. Thin formal long-let market (Port Vila: Mele/Pango/Tassiriki/town); STR is tourism-driven (Port Vila + outer-island resorts, cruise-call seasonality). **Extreme natural-hazard exposure** (routinely ranked **#1 in the World Risk Index**; M7.3 quake 17 Dec 2024 W of Port Vila; Cyclone Pam Cat-5 2015) is a structural operating cost — insurance + repair downtime, see `--risks`. **No official rental-yield index** — `data not publicly available — do NOT state a yield %; COMPUTE from a specific dated listing (annual rent ÷ price), then deduct 12.5% Rent Tax on gross + ground rent + insurance + management`. Band: 🟡 (12.5%-Rent-Tax-on-gross + lease-term decay + hazard-insurance drag; no zone cap, no STR licensing regime documented; net materially below any gross). [DCIR Rent Tax Cap 196](https://vanuatucustoms.gov.vu/taxes-and-licensing.htmlrent-tax.html) (PRIMARY) · [VFIPA zero-tax](https://investvanuatu.vu/untapped-potential/low-tax-jurisdiction/) (PRIMARY). ### MENA + Africa **AE** — Dubai DTCM **officially renamed DET (Dubai Economy and Tourism)**. Holiday Home Operator Permit mandatory since 2017: AED 1,520 reg + 320 inspection + AED 370-1,270 annual unit permit. **Tourism Dirham AED 10/n standard / AED 15/n deluxe per bedroom, first 30 nights**. **Abu Dhabi tourism fee 6%** (per 2025 DCT circulars; supersedes older 3.5% + AED 15/n line; verify); DCT short-let licence renewal AED 900/yr; **Circular 8/2025 (Oct 2025)** strengthened compliance. VAT 5% if registered. Band: 🟢 Dubai compliant; r/dubairealestate "long-let yields similar to short-let now" — Bayut H1 2025 confirms long-let tightened (8% YoY rent growth). [DET holiday home](https://www.dubaidet.gov.ae/en/our-services/for-consumers-and-students/issue-a-new-holiday-homes-permit) · [DCT Circular 3/2025 — Abu Dhabi 6% tourism fee](https://dct.gov.ae/DataFolder/Circulars/Circular%203_%202025_Update%20Circular%20No.%207_2022%20Applying%20Tourism%20Fee%20to%20holiday%20homes%20in%20the%20Emirate%20of%20Abu%20Dhabi.pdf) · [DCT circulars index](https://dct.gov.ae/en/media.centre/circulars.aspx). **SA** — MT tourism-accommodation licence via my.gov.sa; **Mabaat** is the MT-licensed STR platform (NOT "Tarseen" — Tarseen reference not verified; likely conflation with Mabaat or Ejar); VAT 15%; ~50% of SA Airbnb listings licensed (Lodge Compliance audit). Riyadh 5-year rent freeze 2025. Band: 🟡 maturing. **OM** — MHT permit mandatory; new tourism law 2025 stricter standards; Savills/Visit Oman/Hospiria STR-formalization partnership (per private-market reports — not published by MHT; verify at source). VAT 5%. Band: 🟡. [mht.gov.om](https://mht.gov.om/). **BH** — **Tourist Levy BHD 3 per room per day eff 1 May 2024**. VAT 10% since 2022. No comprehensive STR framework. Band: 🟠 regulation gap. [KPMG BH GCC Tax News May 2024](https://assets.kpmg.com/content/dam/kpmg/bh/pdf/2024/05/kpmg-bahrain-gcc-tax-news-05052024.pdf). **QA** — QT Holiday Homes Licence (5-yr) mandatory; Circular 12/2022 framework; hotel-sector 10% tourism tax per PWC (STR applicability — verify with QT directly). VAT not yet implemented. Band: 🟡. [QT Holiday Homes](https://www.qatartourism.com/en/licensing-e-services/e-services/holiday-homes). **KW / JO** — Regulation gaps; no documented STR licensing regime comparable to GCC peers. Band: 🟠 — classify as "no significant foreign-buyer STR market" unless specific buyer thesis. **IL** — **VAT 18% from Jan 2025** (raised from 17%); ITA treats Airbnb income as **business income** (no 10% linear or passive-rental exemption); ITA running snap audits in TLV/Jerusalem/Haifa/Eilat. 0% of TLV listings have STR licence; 90-night/yr cap *considered* not enacted. Eilat zero-VAT zone (verify current status). Post-7-Oct-2023 ADR depressed 2024 H1, recovered 2025. Band: 🟡 enforcement-risk rising. [CPA-Dray ITA STR](https://www.cpa-dray.com/en/blog/short-term-rentals-airbnb-israeli-taxation/). **EG** — VAT 14% + **Tourism Support Fund 1% (or EGP 5-50/n)** since Mar 2023 + Service 12% ~ 26% guest-side stack. Minimum 5★ USD 40 / 4★ USD 28 nightly (Nov 2021). Sharm El-Sheikh ~1% city tax. Band: 🟡. **TR** — **Law 7464 (Konutların Turizm Amaçlı Kiralanmasına ve Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun)** enacted 25 Oct 2023, gazette RG 32357 2 Nov 2023, **in force 1 Jan 2024**: lets ≤100 days per booking = STR threshold; national permit via Ministry of Culture & Tourism e-Devlet; **unanimous written consent from all condominium co-owners required**; base fines **TRY 100k/500k/1M revalued annually** (2026 applied 180,617 / 903,088 / 1,806,177 TRY); actively enforced 2026 (Istanbul/Antalya/Bodrum) — Airbnb blocks listings lacking the Ministry permit number. Konaklama Vergisi 2% since Jan 2023. VAT (KDV) 10% reduced accommodation / 20% standard. Band: 🔴 unanimous-consent structural barrier in apartment blocks. [Mondaq Law 7464](https://www.mondaq.com/turkey/data-protection/1422698/understanding-t%C3%BCrkiyes-new-law-on-short-term-residential-rentals-for-tourism-law-no-7464) · [KTB Denizli 2026 fines](https://denizli.ktb.gov.tr/TR-437107/turizm-amacli-kiralanan-konutlara-iliskin-mevzuat-hakki-.html). **MA** — **Standards 2.0** classification rollout 2025; riad inspection MAD 1,200. TPT per-night per-star (MAD 7-30/n by classification — verify ONMT brackets). VAT 10% accommodation. 0% of Marrakech 9,648 listings have STR licence — enforcement still low. Management 10-15% short-let (yourhost.ma; Atrravel reference not verified). Band: 🟡 (tightening but enforcement low; price for 2027 step-up risk). [Styqr Standards 2.0](https://styqr.fr/en/2025/10/01/new-standards-for-tourist-accommodation-in-morocco-2025-welcome-to-standards-2-0/). **TN** — **Taxe de séjour quadrupled 2024**: TND 4 (2★), 8 (3★), 12 (4-5★) per night, **eff 1 Nov 2024**; **explicitly extended to private residences rented for tourism**. Hotel turnover tax 1% → 3% (Finance Law 2024). VAT 7% reduced accommodation. Band: 🟡. **ZA** — TOMSA Tourism Levy 1% voluntary; VAT 15%; **Tourism Amendment Bill 2019 SHELVED** (not pending as some references cite). Cape Town STR By-Law **proposed April 2026** (not enacted); body-corporate de-facto bans dominate Sea Point/Green Point/De Waterkant/CBD/Camps Bay/Clifton. 26,304 Cape Town active listings (Inside Airbnb 25 Jun 2025). Band: 🟠 Cape Town (April 2026 by-law inflight + body-corp binary). [Capetowner Apr 2026](https://capetowner.co.za/news/2026-04-20-new-regulations-for-short-term-rentals-in-cape-town-what-you-need-to-know/). **NA** (Namibia) — Airbnb host-only 15.5% + management + municipal rates + insurance + vacancy. **NAD = ZAR at par** (CMA member; both legal tender) so the STR cost mechanics mirror ZA, **but the FX exit differs**: flows WITHIN the CMA are uncontrolled, flows OUTSIDE the CMA are exchange-controlled and the exact non-resident property-sale repatriation procedure is `data not publicly available — verify at` [Bank of Namibia Exchange Control](https://www.bon.com.na/Informations/FAQ/Exchange-Control.aspx). Rental income is **Namibian-source income taxed under personal income tax** (resident or non-resident landlord; exact brackets not re-pulled — verify at [NamRA](https://www.namra.org.na/)); **no CGT on ordinary assets** (standard VAT 15%; the residential-rent / residential-resale VAT split is `data not detailed at primary this pass — verify at` [NamRA](https://www.namra.org.na/)). **STR regulatory status not itemised at primary** — whether Windhoek/Swakopmund/Walvis Bay impose registration/zoning/levies is `data not publicly available — verify at the City/Town Council +` [Namibia Tourism Board](https://www.namibiatourism.com.na/). **Sectional-title / body-corporate conduct rules are the silent STR killer** (as in ZA — read the scheme rules before pricing a yield). Coastal (Swakopmund/Walvis Bay) holiday-let seasonality peaks Dec–Jan (domestic + South African demand); Windhoek demand is steadier (government/mining/NGO/diplomatic). **Rent-control overhang**: a Rents Ordinance/rent-board framework exists and has been subject to reform proposals — a reactivated rent board could cap increases (`verify operative statute at` [NamibLII](https://namiblii.org/)). **No Namibian rental-yield index exists** — `data not publicly available — derive gross only from actual rents on ≥3 comparable units, net of vacancy + management + municipal rates + insurance`. Band: 🟡 (no documented STR regime + sectional-title body-corp veto + rent-control overhang + no yield index → require comparables; regime not a regulatory-kill). [NamRA](https://www.namra.org.na/) (PRIMARY for tax) · [Namibia Tourism Board](https://www.namibiatourism.com.na/) (`verify STR rules`). **BW** (Botswana) — Airbnb host-only 15.5% + management + council rates + insurance + vacancy. **Exchange controls ABOLISHED 9 Feb 1999** → rents, fees, dividends **and full disinvestment proceeds are freely repatriable** ([BoB Milestones](https://www.bankofbotswana.bw/milestones)) — the load-bearing positive for a foreign landlord's income + exit. Rental income is **Botswana-source income** taxed on the PIT brackets (0–25%, BWP 48,000 tax-free threshold) net of allowable expenses (or corporate-rate/WHT regime — see `--tax`); **VAT 14%; no separate flat CGT** (immovable-property gains taxed as income with an inflation-indexed cost base). **No national short-let licensing regime located** — `data not publicly available; tourism levies may apply in the Maun/Okavango/Chobe tourism zone — verify locally`. **Tenure gate first**: only **freehold** (or a state-land lease the non-citizen actually holds) generates a lettable asset for a non-citizen, and Tuli Block agricultural freehold needs Land Control Act consent — confirm tenure before modelling yield. **No primary/dated rental-yield source located**; GlobalPropertyGuide carries a Botswana page (**secondary** — pull the dated figure there, label secondary, cross-check ≥3 listings). Band: 🟢-🟡 (light-touch regime + free repatriation positive; tenure gate + no dated yield index the only frictions; no zone cap, no STR licensing regime documented). [BoB Milestones](https://www.bankofbotswana.bw/milestones) (PRIMARY — repatriation) · [GlobalPropertyGuide Botswana](https://www.globalpropertyguide.com/africa/botswana) (secondary — `est., cross-check`). **KE** — **2% Tourism Levy extension to Airbnb/Booking.com from June 2026**; mandatory registration with **TRA (Tourism Regulatory Authority)** — NOT "NCITS"; Nairobi county permits + KEBS hospitality standards; VAT 16%. Band: 🟡 June 2026 inflection. [Business Daily Africa](https://www.businessdailyafrica.com/bd/economy/kenya-expands-2pc-tourism-levy-to-airbnb-booking-com-rentals-5339302). **NG** — Lagos HORC Law 2009 5% consumption tax + Tourism Promotion Agency Law 2019; VAT 7.5% on hotel/short-stay; LASBCA STR business permit. ₦264.3bn 2024 Lagos market revenue, +200% YoY nightly rates. Band: 🟡 FX volatility + state-by-state patchwork. **GH** — Tourism Levy 1% (L.I. 2185 / Tourism Regulations 2012); VAT + NHIL + GETfund + COVID-19 levy + GTA + EPA + 14 more line items. GTA shut-downs documented 2022. Band: 🟠 tax-stack complexity. **RW** — **3% Tourism Levy in force 1 Jul 2025** — applies to hotels, motels, lodges, apartments, **Airbnb, camping sites**; registration deadline end-Jul 2025; first declaration 15 Aug 2025; monthly thereafter. VAT 18%. Band: 🟢 clean recent regime. [RRA notice](https://www.rra.gov.rw/en/details?tx_news_pi1%5Baction%5D=detail&tx_news_pi1%5Bcontroller%5D=News&tx_news_pi1%5Bnews%5D=2811&cHash=238f70126ddc5583e158c57fcd95edce). **SN** — VAT 10% reduced tourism; LMNP-equivalent furnished rental possible; STR-specific licensing not documented. Band: 🟠 regulation gap. **CV** — Tourist Tax €2/day visitors >16y cap 10 days; **20% flat non-resident rental withholding**; legacy IUP 5-year tourism waiver (Sal/Boa Vista/Maio) — IUP repealed from 1 Jan 2026 (Lei n.º 55/X/2025 Art. 6.º; replaced by IPI 0.1% annual + ITI 1% transfer); whether the waiver carries over to IPI is data not publicly available — verify at DNRE / Câmara Municipal; VAT 15%; SRSMC 4% for small companies. Band: 🟡 tax incentives strong + 20% WHT drag. **SC** — **Tourism Environmental Sustainability Levy (TESL)** eff 1 Aug 2023: small (1-24 rooms) SCR 25/pp/n, medium SCR 75, large SCR 100 + yachts; **charged on invoice NOT advertised price**. **From 1 Jan 2026: small establishments (1-24 rooms) NO LONGER subject to levy** — yield-positive for foreign-owned villas. Band: 🟢. [Inside Seychelles changes](https://www.insideseychelles.com/changes-to-sustainability-levy/). **MU** — Tourism Levy 2% of total accommodation bill (excl VAT) since 2013; VAT 15% (registration threshold MUR 6M); rental income tax 15% flat; holiday-rental `. Applies to: KW, JO, SN, MK, NP, BD, CN (skipped — Airbnb domestic suspended), NA (tax structure primary, but STR rules + yield index + operative rent-control status + non-resident repatriation procedure all undocumented at primary — hedged in-section, not guessed). - **Verified-unverified**: 5 specific items flagged as `unverified` / `superseded` and require primary-source confirmation before relying: - CO **Bogotá Decreto 538/2024** (10% STR tax) — not retrievable; closest match Decreto 236/2024 - CO **Medellín Acuerdo 056/2024** El Poblado — RNT enforcement real but specific acuerdo unverified - BS hotel guest tax — verified 10% VAT since 2022 (not 12%) - BB tourist levy — verified 2.5% Room Rate + 10% Shared Economy (not 8.75%) - SA "Tarseen" — replace with **Mabaat** (MT-licensed) or Ejar; KE "NCITS" → **TRA**; MA "Atrravel" → yourhost.ma/KNA ## Status **Last refreshed**: 2026-05-11 (IE STLR status and NZ Auckland APTR/CATTR rows re-verified 2026-09-18). **Next refresh**: per-event for highest-volatility (FR national STR lessor téléservice Q4 2026 launch (DGE); AMS 15-night cap 1 Apr 2026 launch; HU Budapest VI zero-day 1 Jan 2026 launch; Cyclades bed-cap ministerial decision by 30 Jun 2026; Cape Town STR By-Law enactment; SC TESL 1 Jan 2026 small-property exemption; KE 2% levy June 2026; Bali OTA delisting from 1 Aug 2026 (announced) + OSS-linked API June 2027; Tokyo 3% FY2027 announcement; Kyoto hotel tax 1 Mar 2026 top-band 10× rise), monthly for active reform calendars (BCN 2028 expiry countdown; Athens AMA extension review; SI 2027 60-day cap; FL/CA US municipal enforcement), quarterly for stable jurisdictions (Cyprus, Malta, Western EU baseline). **Confidence**: HIGH for cross-cutting platform-fee baseline + 2024-2026 reform calendar (well-sourced); MEDIUM-HIGH for per-country one-liners (mix of primary regulator + named-secondary); MEDIUM for neighborhood-zone overlays (municipal portals are not consistently English-language indexed; verify in local language). LOW for the 5 verified-unverified items pending primary-source confirmation.