Japan’s home-sharing listings grow ten-fold on month to one,000 in front of new law

TOKYO (Reuters) – Japan’s home-sharing listings have crossed the fir,000-mark, the nation’s tourist agency said on Wednesday, previous to a completely new law controlling the practice makes affect Friday.

The count is 10 times higher from your month ago, but nevertheless lags 62,000 listings this marketplace leader Airbnb Inc had by trapped on video tape.

Japan will enact in which you temporary lodging, or “minpaku,” law, on June 15. The law requires hosts to register while using government apart from imposing other rules and restrictions.

Japan has 2,707 applications nationwide as of June 8, that 1,134 were approved, based on the Japan Tourism Agency. In May 11, the costa rica government had approved 152 of 724 applications.

The new law limits home-sharing to 180 days 12 months, a cap hosts say causes it to become tricky to make money and leaves final decision-making to local governments, several of which have imposed even stricter rules to safeguard security.