Recently, a study was conducted about Airbnb-trends in Budapest and how they relate to the hotel industry. It was András Jancsik, vice-rector of the Budapest Business School, who presented this study during a regional meeting of the Association of Hungarian Hotels and Restaurants – reports turizmus.com.
Data was collected by net scraping between 2014 and 2018. The study reveals that there were 20 583 properties available in Budapest on the Airbnb site during this period, belonging to 11 thousand owners. However, Jancsik emphasised that “this number of properties were never available in Budapest all at the same time”, considering many flats only appear on the site for a short period of time. Property owners often give a shot to this form of renting out, only to decide after a few tries that they want a more permanent lodger.
The study also reveals that the properties available have a wide range of sizes, with available beds ranging from 1 to 16.
On average, the flats have space for 2-4 people, and the average cost for a night is EUR 30. Most of the properties are located in the city centre, on the Pest side of the city.
The most popular areas are the 5th, 6th, 7th and 8th districts of the city.
Another interesting detail revealed is that numerous properties appeared on the site last year for the period of the World Aquatics Championships held in Budapest, then disappeared just as quickly when the competition was over. At the beginning of this year, about 45 000 beds were available in Budapest on the site, which approximately equals the number of people the hotel industry can provide for.
According to the study, price is not the most important factor when choosing the accommodation.
Other customers’ opinions are valued much higher, so it is easier to rent out a flat that has great reviews.
In fact, it seems like people are suspicious about flats that are too cheap. The price range for Budapest falls between EUR 22-41.
Similarly to the hotel industry, Airbnbs are more popular around the holidays or during events like the Sziget Festival or the Hungaroring, while the weekends are also busy. In just four years, Airbnbs gained popularity among visitors – from the previous 14% of guests choosing to book on the site, this percentage has now risen to 32%. The other option for these guests is usually a 3-star hotel. Typically, families with small children opt for Airbnb flats, then come couples and only then friend groups.
Tell us in the comments below what is important for you when choosing an Airbnb accommodation!
For more news, make sure to check out this article about an excellent travel guide to Budapest.