How would an Airbnb ban affect Budapest’s rental market?
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Budapest’s rental market could undergo significant changes if Terézváros votes to ban short-term rentals such as Airbnb. An analysis by ingatlan.com suggests that such a ban might increase the supply of housing and lower prices in the district, where rates are currently higher than the city average.
Will Airbnb be banned in Budapest?
We have previously reported HERE that tourism experts are discussing potential changes to Airbnb regulations in Hungary, which could affect up to 16,000 properties in Budapest and 35,000 across the country, bringing significant changes to Budapest’s rental market. The proposed regulations might restrict Airbnb operations to 150-180 days per year, similar to policies already in place in other European countries. In Budapest’s Terézváros district, residents will vote in September 2024 on a potential ban on Airbnb—a decision that could have a serious impact on local accommodation providers.
These providers have launched the “Let Terézváros Live!” campaign, arguing that such a ban would damage tourism and lead to long-term problems, pointing out that international examples show no clear link between the presence of Airbnbs and rising rental prices. They warn that restricting private accommodations could drive tourists away from Budapest if suitable alternatives are not available.
Budapest’s rental market could face serious changes
As Telex writes, Budapest’s rental market and property sales could face significant changes if the Terézváros referendum results in a ban on Airbnb, according to an analysis by ingatlan.com. Such a ban could increase housing supply, potentially driving down property prices and rental costs in the medium term.
However, according to the opponents of the Airbnb ban, this assumption is not borne out by the examples of global cities, as nowhere has housing or apartments become cheaper, writes Helló Magyar.
Nice article, congrats, good summary.
But there’s a serious bug in the title.
Rather than “the Airbnb ban” (which in English presumes it is existant and decided), it should phrase “an Airbnb ban” (leaving the possibility of a ban open). Might be just a HU/EN translation issue, but it does matter very much!
Hoping you’ll correct that because it wrongly transports the idea of a ban being certain already, which it isn’t.
Dear BB,
Thanks for your comment, we have corrected the title for more clarity.
Thanks for reading us!
Bravo, dear Fanni, and respect for taking my comment into consideration, which reflects your open-minded and professional attitude. Looking forward to your unbiased and balanced follow-ups on the topic, bringing honest light to both sides of the story.