Residents of Terézváros — Budapest's sixth district — will head to the polls to vote on a ban of Airbnb short-term rentals.
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00:00One of Hungary's most popular party destinations could be devoid of Airbnb rentals if residents
00:08support the proposal in a local referendum.
00:11According to locals interviewed by Euronews, a more nuanced solution is preferred for fixing
00:17the rental squeeze in Budapest's 6th district.
00:22I think that a simple ban is not an appropriate approach.
00:27It should be regulated, and I think that the sources of the problem remain in the face of the ban.
00:36The district mayor says a vote is required to change municipal law.
00:42Unfortunately, why are we asking this question?
00:45Because we don't have any other legislation that gives us the opportunity.
00:48Local governments can do this much.
00:50More than 7 percent of dwellings equating to 2,200 properties are currently used as
00:56private accommodation in the area.
00:58These properties generate yearly revenue for the district, but critics say they also drive
01:04up property prices.
01:20The mayor says there is no referendum threshold for the ban to be implemented.
01:25But if a few thousand people support the idea, local government will pass a decree leading
01:31to a total prohibition in the district.