Budapest remains a magnet for international tourists and continues to develop dynamically in 2025. In 2024, the city already experienced a 24% increase in foreign tourists, who account for 87% of the 14.7 million overnight stays in the capital. The city and the government are reacting to this development in contradictory ways: with the opening of new hotels, the city’s supply is growing, while at the same time new regulation of short-term rentals is likely to lead to a shortage of private Airbnb accommodation.

In September, Budapest’s Terézváros district, also known as the 6th district, decided in a referendum to ban Airbnb and other short-term rentals. A majority of 450 votes will now decide on a bold experiment with an uncertain outcome. The decision, which was narrowly carried by 54% (20% of the 35,000