Airbnbing Entire Apartment Now Illegal in Berlin

In an effort to ameliorate skyrocketing housing prices in the city of Berlin, Germany has made it illegal for citizens to rent out their entire apartments on Airbnb, with a stiff fine of €100,000 ($115,000) for those who do. The law, called Zweckentfremdungsverbot (“prohibition of improper use”) went into effect on May 1st, and although Berlin homeowners are still able to rent out individual rooms on Airbnb and other property listing sites, renting out entire residences is now illegal throughout the nation’s capital. German officials claim that Airbnb has exacerbated the rise of housing costs and thus contributed to the city’s housing shortage.

To read more on this story, go to The Verge.

[Photo: Bloomberg]