Accommodation prices skyrocket in Hungary

Accommodation prices in Hungary are rising, with significant increases observed in guest houses, apartments, and 3-star hotels. Many travellers are now choosing Croatia over Lake Balaton, and foreign tourists are also reconsidering their plans to visit the Hungarian Sea due to inflation in the country.

According to data from the Hungarian Central Statistical Office (KSH) accommodation prices continued to rise in June, Portfolio reports. The average price for apartments was HUF 27,000 (EUR 69) for two people, while guest houses cost more than HUF 28,000 (EUR 72). Prices for hotels were even higher: 3-star hotels cost HUF 35,500 (EUR 90) for two people, including breakfast, and 4-star hotels averaged HUF 57,500 (EUR 147) for two people with breakfast and dinner.

Compared to the same period last year, the prices for bed and breakfasts, apartments, and 3-star hotels increased by nearly 10 percent, which is more than double the average increase in consumer prices. However, room prices in 4-star hotels rose by only 3 percent over the year.

In recent years, Hungarian accommodation costs have been affected by significant increases in energy prices, commodity costs, and labour expenses. This year, rising water bills are also contributing to higher costs.

Accommodation prices at Lake Balaton may scare off foreign tourists too

Telex looked at the cost of a night’s stay at Lake Balaton using various booking portals (Booking.com, Szállás.hu, Airbnb). Most accommodations on Booking.com, which also offers hotels, ranged from HUF 44,000 to HUF 65,000 per night (EUR 112-166). On Airbnb, the HUF 35-45,000 (EUR 90-115) range was the most popular, while on Szállás.hu, the HUF 25-35,000 (EUR 64-90) range had the widest selection for two people per night. Finding accommodation for less than HUF 15,000 (EUR 38) on these sites is nearly impossible.

When comparing prices on the Croatian coast, the news portal found that those seeking accommodation for around HUF 35,000 per night have a good chance of finding it in Croatia. For years, Hungarians have compared these two holiday destinations, often concluding that at domestic prices, it might be more worthwhile to go to the seaside. While a one-week trip to Croatia is generally more expensive, a one-week camping trip there is cheaper. However, research by Pannon University indicates that comparing the two destinations is challenging. For those wanting to escape life’s stresses, going abroad is more popular. But the need for predictability and security, especially among families with young children and older people, makes domestic holidays more appealing.

According to various accommodation providers at Balaton, prices in the region are no higher than last year, some have even reduced prices to increase occupancy, and last-minute bookings have risen. There’s also a trend for shorter stays, typically 2-4 days, as many people can no longer afford week-long holidays.

Some places are experiencing more cancellations for the summer months than usual, suggesting that many people are reconsidering their holiday plans. Some accommodation providers blame the European Football Championships, speculating that many Germans may have chosen to stay home to attend the games instead of spending their holiday at Lake Balaton.

The Central Statistical Office will publish data on tourist accommodation turnover at the end of July, so there are no updated figures for this summer yet.

Read also:

• Going to thermal baths on holiday is luxury for most Hungarian families – Read here
• Is Balaton truly more expensive than Split and Nice? – Read here

Featured image: depositphotos.com