Sunday 21 November 2021

"Landlords cash in with £100,000 Cop26 rentals"

Emailed in by MBK, from The Times:

It is billed the “best last chance to save the planet” but Cop26 has given Glasgow landlords a chance to save for the future by charging extortionate rents. Rates have soared above £100,000 for the two-week summit as politicians, scientists and activists vie for accommodation, in what has been dubbed the Glasgow gold rush.

An investigation by The Times found 20 properties on Airbnb and 30 on Booking.com that are going for more than £20,000 for the fortnight. The average nightly price for a rental on Airbnb during the two weeks is over £600, a threefold increase on the same dates in the following two months.


Well of course. Location rents are determined by what's going on in the area, if there's more going on, then rents go up.

What they overlook is that while this an extreme example of landowners cashing in on the efforts of others, their baseline rents also just represent landowners cashing in on the efforts of others. There's no moral or economic difference.

6 comments:

James Higham said...

Trying to think of one redeeming feature of Cop26. Nah, I give up.

Scrobs. said...

I suppose I'd rather have a 'Glasgow gold rush' than a 'Glasgow hand-shake'!

A 'Glasgow salad', (bag of chips) is always a welcome treat though...

Mark Wadsworth said...

JH, why would you even bother trying to think of one? Futile quest.

Sc, chips good!

Bill Sticker said...

And all paid for by taxpayer dollar...

Mark Wadsworth said...

BS, taxpayer dollar or it comes out of corporate advertising budget.

Bayard said...

BS, I think it comes under "bread and circuses".