News from Budapest Airbnb Market

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Recently many articles reported about the regulations of short-term housing expenditures in Budapest's popular inner districts. Due to this, and the extreme price increase of rentals, Airbnb's role in the Hungarian capital changed somewhat. Let's see what changes took place lately.

Despite the fact that the number of Airbnb apartments in Budapest has increased steadily in the last few years, there is no growth this year compared to last year. This stagnation is attributable to two things:

1. In many districts, short-term housing expenditures are so strictly regulated that it is hard to maintain them;

2. additionally, apartment prices have grown to such an extent that owners rather sell their homes for long-term fixed, high monthly sums.

Budapest is a popular destination for tourism, so there is a real need for the Airbnb apartments in Budapest. However, obtaining licenses is causing more and more puzzles for owners, as many districts have introduced measures specifically targeting Airbnb solutions.

In the 8th District, for example, the permits of condominiums had to be added because other accommodation services should be included in the organizational and operational regulations. In District 5, now the condominium has to arrange for a quorum of the general assembly to vote for the operation of Airbnb. In District 6, an extra parking charge is payable after every Airbnb room. Depending on the location of the house, this could mean 1-1.5 million forints charge per parking spot.

Apartments still have a greater chance of not being left empty in the off-season, with some plus or luxury feature. Thus, if the number of Airbnb apartments in Budapest has not been reduced, the emphasis is shifted to more qualitative, more luxe homes.

So, the tension between the cities and the Airbnb solutions continues, as tourists are delighted to use Airbnb, but city administration and residents often do not support short-term housing spending. Present Airbnb options are turning to better quality, which has a positive impact on the average quality of apartments. We’ll see what else the future holds for short-term housing in Budapest.

news_from_budapest_airbnb_market__

 

Source:

https://zoom.hu/hir/2018/08/23/fordulat-varhato-a-fovarosi-airbnb-s-lakaskiadasban/

Photo source:

Google

 

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