The impact of Airbnb rentals on the rental housing market in Budapest has become a concerning issue. According to Dániel Z Kárpát, there is a need to address this issue by proposing certain regulations, such as a limit on the number of days a property can be rented out and an increase in the VAT rate for property owners.
Implementing a limit on rental days
Dániel Z Kárpát suggests implementing a 90 day annual limit for Airbnb rentals. This means that property owners would only be able to rent out their properties for a maximum of 90 days per year. The purpose of this limit is to prevent the distortion of the rental housing market caused by properties being exclusively used for short-term tourist rentals.
Increase in VAT rate for property owners
Another proposed regulation is to increase the VAT rate for property owners who use their properties for Airbnb rentals. Currently, property owners pay a VAT rate of 5%, but Dániel Z Kárpát suggests increasing this rate to 27%. This increase in VAT would make it less financially advantageous for property owners to exclusively use their properties for short-term tourist rentals.
Encouraging long-term rentals
By implementing the proposed regulations, Dániel Z Kárpát believes that property owners would be more incentivized to rent out their properties for longer periods of time, such as to university students, during the remaining nine months of the year. This would help alleviate the strain on the rental housing market and provide more affordable long-term rental options for residents.
In order to address the concerns surrounding Airbnb rentals and the impact on the rental housing market, Dániel Z Kárpát plans to submit a bill to parliament in the near future. The proposed bill will outline the specific regulations and guidelines to be implemented in order to manage the impact of Airbnb rentals effectively.
Questions & Answers
What is the impact of Airbnb rentals on Budapest's rental housing market? Properties let out to tourists in Budapest are distorting the rental housing market, according to Dániel Z Kárpát.
What is the proposed solution to manage the impact of Airbnb rentals in Budapest? Dániel Z Kárpát proposed a 90-day annual limit for Airbnb rentals in Budapest. Additionally, owners would be required to pay 27% VAT instead of the current 5%.
What could owners do with their apartments during the remaining nine months if the proposed limit is implemented? Owners could rent out their apartments to university students or for other long-term rentals during the remaining nine months if the proposed limit is implemented.
Which political party is planning to submit a related bill to parliament regarding Airbnb rentals in Budapest? Jobbik is planning to submit a related bill to parliament regarding Airbnb rentals in Budapest.