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Greedy Edinburgh landlords charging five-figure sums for Fringe short-term lets
19.02.2023 - 08:27 / dailyrecord.co.uk
Greedy Edinburgh landlords are charging tens of thousands of pounds for short-term stays in the capital during the upcoming Fringe festival. Analysis of accommodation on short-term letting sites such as Airbnb and Vrbo reveals a gulf in pricing for stays in the near future and stays for the length of the Fringe, which runs from August 4-28, 2023.
A three-bed flat in the Old Town, at the heart of the capital, carries an asking price of £925 a night - or £24,000 for artists looking for somewhere to stay for the duration of the festival. The price for the flat drops to £183 a night for bookings in March. It is operated by Altido, an agency that snaps up lucrative properties for short-term letting across the world.
Performers lined up for this year's Fringe and the Edinburgh Book Festival, which runs alongside, say the price gouging for Fringe-length stays in Edinburgh is "killing" the festival and scaring away artists.
Author David Fenne tweeted an image of a booking for a two-bed apartment in Edinburgh that sought to charge £140,702 for 28 nights – over £5,000 an evening – for a two-bed "holiday apartment".
He wrote: "Are you actually kidding me? People are asking for £140,000 to stay in Edinburgh during the Fringe? This shameful and predatory price gouging is killing the #EdinburghFringe and bankrupting artists."
The Record has been unable to verify the apartment's quoted rates. However, an Australian comic, Daniel Muggleton, tweeted an image of what appears to be the same apartment, with a quote for £135,697 for 27 nights, in line with the rate quoted to David Fenne.
Muggleton quipped: "Hey @edfringe do you guys know a good UK-based mortgage broker? Thinking of doing the festival this year."
Emily Beecher, a creative director
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