The prices of apartments for rent for “Eurovision” are largely absolutely unrealistic. This was stated on the air of NOVA NEWS by the chairman of the Association for Tourist Properties and Innovations, Boris Pavlov. According to him, there are several reasons that lead to such record values.
The first is that hoteliers, as well as owners of properties that are rented out for the short term, were not prepared for the fact that Burgas would host the contest, and they needed time to assess what price to set for their property. “I want to assure you that there is no property owner who thinks that they can rent it out for a week at a price that is more or less equal to the value of the property itself”, Pavlov pointed out.
“By searching for these listings, we artificially create traffic to them and in this way the algorithms of the platforms themselves think that these are unique properties and reservations start pouring in for them for this season. This is a trick through which reservations are obtained for now”, explained the chairman of the Association for Tourist Properties and Innovations.
According to him, it is realistic for prices to be about two to three times higher than normal prices for May or for the season. “This is observed in all cities that host “Eurovision”, and it is normal. I would not say that it is speculation. Here we may not even reach these levels because of Sunny Beach and its bed base. Most hotels will open earlier and will accommodate a large part of the people who will come for “Eurovision”, he noted. Regarding the bed base, he pointed out that Burgas itself, as a city, does not have enough bed base, but the surrounding resorts can certainly accommodate people.
“What is about to happen is that a regulation will come into force, under which each property must be duly registered. Many of the properties that users of the platforms see are not properly registered, respectively, they are not legal as of today and will be removed from the platforms no later than the end of the year“, added Pavlov.
“If someone wants to speculatively rent out their property specifically for “Eurovision“, it is good to know that this will not be a very easy process, as it requires registration with the Municipality, payment of patent tax and a bunch of other things“, he also said.