17 Apr '11, 4am

Royal Wedding a boon for London home owners

LONDON: London home owners are set to rake in about 114 million euros from rental income over the weekend of William and Kate's royal wedding. Asian, American and other international visitors are prepared to pay top prices for a room, even if it is in someone's home. London's shortage of hotels has prompted royal wedding fans to look for alternative places to stay, raising questions over the city's accommodation needs during the Olympics. Property experts said London's steep hotel prices and shortage of rooms have prompted a 40 per cent spike in demand. Nigel Lewis of FindaProperty.com, said: "The wedding was such a surprise that most of the property industry wasn't really ready for this. Now that they have seen the demand coming on to sites like ours, it's become clear that there is this huge demand for short term rents." Prices range from 34 euros for a room in someone's...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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