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Sky-high rents await royal wedding tourists

TT/Peter Vinthagen Simpson · 6 Apr 2010, 09:45

Published: 06 Apr 2010 09:45 GMT+02:00

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Hotel operators are also expecting full capacity during the week building up to the wedding of Crown Princess Victoria and Daniel Westling on June 19th.

Many city centre residents are now taking the chance to earn some extra cash in time for the summer holidays, with several apartments being advertised for as much as 20,000 kronor ($2,800) for the week.

Demand for hotel rooms, rented rooms and hostel beds has increased dramatically for the wedding period and many hotel operators are also taking the chance to hike their prices - in some cases by as much as 100 percent.

For many families hoping to visit Stockholm to savour the royal wedding fervour, an apartment rental is a favoured option and an increasing number of Stockholm residents are responding to the increase in demand.

On the buy and sell website Blocket.se a slew of apartments can be found for rent during the period June 14th-20th. A one-bedroom apartment on Österlånggatan in the Old Town can be had for 20,000 kronor, for example.

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Stockholm is a city that has a system of regulated rents and many of the prices touted will be far in excess of what would be paid by the tenant or tenant-owner, and what would normally be permitted according to the system.

The rental regulations however do not normally apply to "holiday" rentals and so Stockholm residents, whether they own their properties as part of a tenant-owner association, or are tenants themselves, are free to set their one off rents at a price the market is willing to pay for a slice of royal wedding romance.

TT/Peter Vinthagen Simpson (news@thelocal.se)

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Your comments about this article

10:58 April 6, 2010 by JulieLou40
Greedy b******s. Having said that, if I was lucky enough to own a Stockholm apartment, I would of course, be doing the same ;-)
11:55 April 6, 2010 by planet.sweden
It's not funny it's called G-R-E-E-D and it's been spreading throughout Stockholm like wildfire throughout the last couple of years.

The price of private rentals in central Stockholm now exceeds all but the central zones of London in the UK. Like with some many other areas Swedes are exploiting a system designed to aid the less well off, namely rent controls, to make a private killing.

What is particulary odious is the spectacle of Swedes living in rent controlled properties subletting these properties out at massive profits to themselves. It's a complete corruption of the whole system.

Amid this backdrop it would be far better if Sweden did away with the right of

bostadsrättsförening to veto rentals and opted for an open market where supply could match demand. There would be an immediate reduction in the price of private rentals.

Sweden should also restructure its hyresrätt system. People who rent a property should be entitled to that property as long as they live in it. Subletting should be banned. This would avoid rentals being kept within families for years/decades. The whole system needs freeing up. Sweden is becoming like Italy.
12:03 April 6, 2010 by calebian22
This has nothing to do with the rental system in Stockholm, which does suck. This is for a week or a weekend rental during the wedding. For some reason, tourists want to see this royal spectacle. There will be a shortage of hotel rentals during that time. If private Svenne can make a kronor or 20,000 out of this, why not?
12:38 April 6, 2010 by planet.sweden
Maybe there's something wrong with me, but I'd baulk at charging 20,000 sek for a week's rent in Stockholm regardless. Those of us familiar with the US and Britain know where greed leads to, and its not pretty. Ever heard of the global banking crisis and its causes? Once you go down the path of a casino economy its difficult to rein it in. Greed creates more greed. Everyone knows someone who got rich doing this or that, and they want a slice of it to.

The Klondike Gold Rush mentality remains within people and it's up to government to keep society sane for the good of everyone.
12:59 April 6, 2010 by calebian22
Money makes the world go 'round, whether it is Sweden or anywhere else. If someone is willing to pay 20,000 SEK for a week's rental in Stockholm then that is what the market will bear. Additionally, if someone has 20,000 SEK to spend on housing for a week, it is likely that, that same someone will be spending alot more money else where in Stockholm during that week. Everyone wins in my opinion, but I am not a socialist either.
13:30 April 6, 2010 by PonceDeLeon
20,000 SEK a week? That is a lot of "Love" for one week! I for one wish Dan and the Crown Princess all the best. I can only imagine what life is like, living in a "Fish Bowl". They are Swedens No.1 tourist attraction.
14:38 April 6, 2010 by FACTSPOLICE
This was a hot topic of discussion, Yes I agree with most posters here, that GREED, is the order of the day. It seems that quite a number of people, not just Swedes are alll about the mighty Dollar.....the USA is a prime example of this! Greed gets the better of so many people. Not to mention the old, and very small apartments, that folks want to try to charge 20.000 kr. a week for! Its extortion at its best! Further, I believe that this Monarchy nonsense needs to stop. Victoria and daniel are just human beings, like you and me, and so te only one derserving of a bow is the almight Higher Power! Some people do not even respect their own parents, but will bow and worship these so called royals....Wake up people, for there is no man greater than you. And so it goes, that I believe that " Consumers are their own Enemies!
15:25 April 6, 2010 by peropaco
If someone is stupid enough to come and see this freak show then they deserve to pay the high weekly rental price.
15:36 April 6, 2010 by Tommysixtoes
Anybody go to Vancouver for the Winter Olympics? Big money for a place to stay, not to mention the price of tickets to the events. I won't be attending the wedding, I think it's pretty boring, just like watching a bobsled zip past every few minutes is. People spend money on crazy stuff all the time. I bet you can rent a nice motorhome for that much and take a few taxi rides...
15:41 April 6, 2010 by Bensonradar
Nice bit of business if you can get it? I thought Sweden was a socialist country that put the moral rights of the citizen before grasping and greedy capitalists hoping to make a fast buck out of royal wedding fervour

But seriously, planet sweden is right. Unfettered greed is totally disgusting. SK20,000 equals UK £1,823, and look where greed got the UK. The financial system collapsed, and UK citizens now own several banks. But do we want them? No way, we don't want to be tarred with the same brush as bankers earning millions, while poverty and low social welfare payments still exist in the UK. The UK public pension and welfare benefits are the lowest in Europe. Hence, the unemployed have to turn to crime to survive. Sad isn't it. And we call ourselves civilized.

I don't know about Swedish people, but in the UK, most people would pay good money NOT to see our royal family, hopeless, gormless idiots that they are.

If Stockholm rents are regulated, pass a law to stop this opportunistic rip-off. Allowing the market to fix prices, for example less accommodation pushing up prices for those stupid enough to pay inflated rates, leads to the "haves" and the "have nots". Poor versus middle classes/rich. This causes grievances.

Keep you socialist values strong. Protect the poor and weak. For God's sake don't become capitalists!
22:32 April 6, 2010 by diegoveggie
i guess things are worth whatever people are willing to pay. i wonder, tho, what kind of a person wants to pay that kind of money to watch some 'royal' people get married? it's would be funny if it wasn't so sad.
01:30 April 7, 2010 by repat_xpat
Love that Jay Leno chin!
09:00 April 7, 2010 by izbz
@planet sweden

Greed?? I don't think so. If those coming to Stockholm think it is too expensive, they can always use sleeping bags and tents.

Swedish government pump in millions of tax payers' money for this occassion but did they really ask us whether it is right to use our tax money for that? Royal family are loaded, they sure can pay that themselves. Look at the glasswares, mugs soveniers....everyone wants a piece of the action. So why not those who are willing to rent out their apartments?

If anyone want to rent my place which is !9 mins by pendaltåg to Stockholm for 15000 kr a week, I will definate rent that out too. ( fully equip with the little luxuries for decent living, a huge balcony to suntan.). For me, it don't matter ,I can go to my summer house in Linköping since I am not interested nor am I invited to the wedding. Ha!!Ha!!
15:23 April 7, 2010 by bravedave
15,000kr a week? your having a giraffe arnt you?

The only people coming into Stockholm for the wedding will be swedes, most of these swedes will have a friend or relitive in the city to stay with. The others will know they are being ripped off and simply wont pay it, I can see hostels and the cheaper hotels making some major gains with rooms from 200kr-800kr a night.
08:59 April 8, 2010 by izbz

Sure there are 200-800kr a night cheapy place, like I say sleeping bags and tents are cheaper. Provded there are still enough cheapy hostel to go around. They might even have friends and relatives in Stockholm but still alot of people do not like to invade and trouble their friends and relatives, If I were to travel anywhere I am willing to pay for my privacy and convenience. Have friends and relatives in many countries but always stay in hotels when I visit their country. Never want to owe anyone favours if I can help it.

So my advice for you but a tent or a sleeping bag!
07:26 April 17, 2010 by csence
Yes, Sweden is finally resurrecting capitalism!!! There is hope.
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