Public Consultation Launched on Draft Short-Term Rentals Regulation in Hungary
- 22 Oct 2024 6:44 AM
The National Economy Ministry announced the launch of a public consultation on draft legislation on short-term rentals.
The draft legislation would raise the annual flat tax on short-term rentals in Budapest from HUF 38,400 to HUF 150,000 per room from 2025, while suspending the issue of new short-term rental licences in 2025 and 2026.
The new rules would only apply to short-term rentals in the capital.
The ministry noted that rents in Budapest, where 140,000 of the 800,000 households are tenants, could reach as high as 50-60pc of renters' monthly income. At the same time, the number of rooms at Airbnb-type accommodations has risen close to 26,000, raising property prices as well as rents, it added.
Since the pandemic, rents and home prices in Budapest have climbed over 40pc, pricing some homebuyers out of the market, the ministry said. Additionally, short-term rentals have restricted permanent residents' right to an "undisturbed" home life, it added.
The ministry said local governments' lack of action in the matter had only made things worse, justifying intervention by the central government.
Source:
MTI - The Hungarian News Agency, founded in 1881.
*********************************
You're very welcome to comment, discuss and enjoy more stories via our Facebook page:
Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary
You can subscribe to our newsletter here: XpatLoop.com/Newsletters
Do you want your business to reach tens of thousands of potential high-value expat customers? Then just contact us here!
LATEST NEWS IN property