Hungarian municipalities allowed to limit short-term rentals

International

BUDAPEST, Hungary (AP) — Hungary’s parliament approved legislation on Tuesday giving the country’s municipalities the right to set limits on short-term housing rentals in their jurisdictions.

The amendments were approved in a near-unanimous vote and say local authorities will be allowed, but not forced, to cap the number of days per year homes or several other types of housing may be used for short-term stays, like those offered by vacation rental website Airbnb.

Owners using their properties for short-term rentals will also have to register them with authorities.

According to the bill, the growing trend in Hungary to use homes for short-term rentals has led to a sharp rise in the price of real estate and long-term rents, while also creating the opportunity for tax avoidance.

The problem is considered to be especially acute in downtown Budapest, the capital city.

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