Prohibition of Airbnb apartments in Terézváros: what can be expected in the future?

By: Trademagazin Date: 2024. 09. 25. 11:22

The number of Airbnb apartments is constantly increasing in Budapest, and at the same time, more and more problems are arising around properties operating as short-term accommodation. Especially in Terézváros, where, based on the population’s vote in September, it was decided to completely ban the operation of Airbnb from 2026. district. This decision raises many questions, and its effects could reach far beyond the district’s borders.

The background and effects of the decision

Due to the proliferation of Airbnb, permanent residents complain about noise, dirt, and a decrease in the safety of the communities, as the buildings have become almost a gateway. In Terézváros, 8% of the apartments operate as short-term accommodation, which caused particularly serious problems. Although the so-called Airbnb Act was passed in 2020, which allowed municipalities to regulate guest nights, this did not bring significant changes.

The decision of Terézváros, according to which Airbnb apartments will be completely discontinued from 2026, may make serious waves in the city’s real estate market. Experts are divided on the possible effects of the decision. According to Dorottya Pápai, business development director of RE/MAX Hungary, the market will probably handle the situation in some way, but the fact that it will be possible to rent an Airbnb apartment on one side of Király utca, while not on the other, creates a strange situation.