A year ago, the question was mostly theoretical: "how much more does Airbnb bring in than a long-term let?" In 2026 it has become a concrete, often forced decision — regulation in some districts simply removes the choice, while elsewhere it has shifted the risk-reward balance enough that the old default answer of "obviously Airbnb" no longer holds.
What happened since the Terézváros ban
The short-term rental ban in District VI. (Terézváros) took effect on January 1, 2026, after Hungary's Supreme Court (Kúria) upheld the local decree in November 2025. In the months since, the market reacted quickly: according to a May 2026 article from Ingatlan.com Tudástár/ado.hu, Airbnb listings in the district fell by roughly 60%, while long-term rental supply grew by about 34% (to roughly 1,330 listings), and rental inquiries for properties in the district rose by about 32%.
These figures show the effect of a single, still-recent ban in a single district — they should not be extrapolated to Budapest as a whole, and are likely to keep shifting as the market settles. They do, however, illustrate what happens when regulation removes a model overnight: supply reallocates quickly, and the long-term rental market absorbs it.
Airbnb: still higher revenue — but a bigger burden
Where short-term rental remains permitted, our sources indicate its gross revenue is still roughly double that of long-term letting. That's a meaningful figure — but it's gross, not net, and it doesn't account for the operational burden, which is substantially heavier than with a long-term rental:
- Administration. Accommodation registration, NTAK registration, monthly IFA (tourism tax) collection and filing, and the flat-rate tax (HUF 150,000 per room per year).
- Daily operations. Turnaround cleaning after every guest, guest communication, maintenance, and dynamic pricing — without which yield can quickly slip below long-term levels. (See our dynamic pricing tools comparison — our own measurement found an 8–12% RevPAR difference tied to whether someone actually adjusts pricing daily.)
- Regulatory risk. Because of the Budapest moratorium (January 1, 2025 – December 31, 2026, no new registrations) and fast-changing, district-by-district decrees, a district that's permitted today can become restricted within six to twelve months. (See our full 2026 regulatory overview for details.)
In our experience, owners do well with Airbnb when they either work with a professional partner or genuinely have the bandwidth to manage it daily — without that, the higher gross revenue can easily be absorbed by administration and unbooked nights.
Long-term rental: predictable, lower yield, less burden
Long-term rental brings in less gross revenue, but the picture is more nuanced: no daily operational demands, no turnaround cleaning, no flat-rate tourism tax, and substantially lower regulatory risk — the moratorium and district bans specifically target short-term rental, not long-term letting. For an owner without the capacity (or the appetite) for day-to-day operations, this means more stable, more predictable income — at a lower gross figure, but with meaningfully less risk and administration.
The question today isn't which model earns more on paper — it's which one actually fits your property, your district, and how much time you can (or want to) spend on operations.
District VI.: a regulatory fact, not an investment tip
To be clear: when we mention Terézváros, it's purely as a current regulatory fact — not as an investment recommendation. Short-term rental has not been legally possible in the district since January 1, 2026; if you own (or are considering) a property there, the question isn't "is Airbnb worth it" but whether to convert to long-term letting or wait for a possible further change in regulation.
Which model pays off for you?
There's no single right answer — the decision depends on at least four factors: your district's current regulatory status, the property's location and layout, how much time or energy you actually have for operations, and your tolerance for a fast-changing legal environment. A well-located, guest-friendly property under professional management can still significantly outperform long-term letting — but a poorly positioned, self-managed Airbnb can just as easily underperform it.
We run this assessment for every client: we look at the property, the district, and the regulatory exposure, and tell you which model — or a hybrid of the two — delivers the best, most stable return. And whichever you choose, we take the day-to-day execution, the administration, and staying on top of regulatory change off your plate.
This summary is for informational purposes only and does not constitute legal or tax advice — we recommend involving a lawyer or accountant for your specific situation. The market ratios cited in this article (Terézváros listing decline/supply growth, short- vs. long-term revenue ratio) are based on recent but continually evolving sources.
