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More People to Choose Long-Term Letting?


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Budapest is a popular tourist destination year after year, which has a positive impact on Budapest's commercial market. The entertainment venues welcome the increased number of guests, and homeowners welcome the demand for their real estate. Not like the residents of the downtown party districts, who are increasingly grinning for their peace. Short-term housing letting already perceive this wind, as there is already a district where they have been tightened up by the Airbnb home-purchase rules.

Budapest's most affected district is the 6th District, which has become the fifth most expensive district in Budapest over the years. Housing price growth was 15%, so it's worth over half a million forints per square meter for those who want to buy an apartment in the district. Of course, it may well seem to be a good investment to buy real estate for short-term residences in frequented neighbourhoods - however, newbie regulations may not make Airbnb a profitable one anymore.

Unpleasant Regulations

District 6 has felt the dissatisfaction of its residents and has adopted a new law, which means that after 1 January 2018 a one-time, 1.5 million HUF parking space fee must be paid for every extra room in the Airbnb-type house letting. Previously, there was an example of charging a fee paid for the redemption of a parking space, as limited parking lots and increased number of homes required this regulation. However, here short-term home-purchase schemes have been targeted.

For a short-term home purchase, a small apartment counts the following costs: renovation fee (average 2-3 million HUF) and a one-time charge of 1.5 million forints. This can extend the return on investment for up to 1 year.

More Investors to Choose Long-Term Rentals

According to experts, newer and newer tightening regulations may be issued in the future, which would result in that investors target other districts for short-term rentals, so their number will not change, only spread to other districts. However, it is also worthwhile to expect that instead of Airbnb, many will turn to long-term, less time-consuming, less risky and faster-paying home-purchase schemes.

Source:


https://www.irodakereso.info/cikkek/irodapiaci-hirek/uj-rendelet-neheziti-a-rovidtavu-lakaskiadok-helyzetet