Airbnb made flat hotels in Budapest’s city centre more expensive
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In two and a half years the number of rented flat hotels in the Hungarian capital’s centre increased by 70% while flats offered by private individuals by 6%. This statistical increase means additional thousands of HUF people need to pay for the rent.
Index reported that experts examined the changing tendencies of the real estate market caused by Airbnb, and how much money customers need to pay for a 50 square-metres flat above the average rent fee. The results showed that Airbnb still has a significant effect on the real estate market of Budapest.
In November 2016, Airbnb offered 6,300 flats, but this March this number increased to 10,000 which means 67% improvement.
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Flats offered by private individuals for long term increased by 6,5% which means 3,200 estates, while the average number of flats in the whole capital is approximately 8,800. Most of these flat hotels are in Districts VII, VI, and V. The Airbnb-effect is the strongest in District V where 50 square metres flat costs 202 thousand HUF/month (611 EUR) – the average rent fee is 159 thousand HUF (481 EUR).