A Vote Was Held in Budapest's Elite District on Airbnb, the Majority Overwhelmingly: a Complete Ban and a Two-Million-Kroner Fine Could Be Possible in Buda Castle
4 Articles
4 Articles
A company's data collection suggests that a third of Airbnb and Booking.com listings in Budapest may be illegal. The implementation of an EU regulation could improve the situation, but other changes are also possible in the market.
The rules for short-term rental housing in the Buda district would be significantly tightened. Airbnbs would not be allowed to operate in Buda Castle within a few years, and in the rest of the district, the continuation of existing condominium accommodations would be subject to condominium contributions.
About a third of short-term accommodation in Budapest – such as Airbnb or Booking.com – operates illegally or illegally, which means billions in annual tax revenue losses for local governments and the state. Although the problem has been known for a long time, the authorities are powerless to remove the advertisements, and the inspection practices of the districts vary greatly. The situation is also complicated by the delayed application of an E…
In Budapest, there are significant irregularities in the area of short-term accommodation: according to research by the company GuestGuru, a third of the advertisements are black or irregular. Identifying and monitoring the affected accommodation facilities is difficult, the authorities have limited resources, while local governments suffer billions in tax revenue losses. The problem is significant not only because of tax evasion, but also becau…
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