Olympics blunder as Paris rocked by 'empty stadiums and apartments' as games fall flat
Paris has so far failed to attract record visitors for the Olympics, with a concerning number of rentals remaining empty.
By
MARIA ORTEGA,
EMILY WRIGHT
21:44, Mon, Jul 29, 2024 | UPDATED: 21:57, Mon, Jul 29, 2024
44BOOKMARK
Paris has so far failed to attract visitors to apartments and stadiums for the Olympics (Image: Getty)
Behind the sounds of the roaring crowds of spectators at the
Paris 2024 Olympics are empty Airbnb rentals and half full stadiums. Prior to the games, some Parisian owners saw it as a golden opportunity to score jackpots, but now it seems to be turning into a fiasco.
Only 12 percent of flat rentals on platforms such as
Airbnb are booked over the entire period of the
Olympic Games. That's according to an article from Le Parisien based on data provided by AirDNA, which specialises in statistical analysis of short-term rentals.
Meanwhile, almost 20 percent have not recorded any bookings at all.
Last May, the source indicated to BFM Business that the prices of these rentals were consistently decreasing as the event approached, a sign of an already significant imbalance between supply and demand.
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During France's defeat against Canada, only 25,000 seats of the 42,000 avaliable were taken (Image: Getty)
However, with the opening of the Games, the flop seems to be confirmed. Of the 87,000 listings online for this Olympic Games period in ÃŽle-de-France, 43,500 - half of them - had an open calendar throughout the competition, claims Le Parisien.
"Only one in ten listings (12%, 5,220 listings) is fully booked during the Olympic Games. Conversely, nearly one in five (19%) has not recorded any reservations!" highlights the article, citing figures as of July 22.
The number of short-term rentals experienced an explosion in the lead up to the games - increasing from 55,000 last summer to over 120,000 listings for the Olympic Games period.
Astonishingly, according to Optirental - a firm specialising in tourism and still during this Olympic period - the median price of a Parisian apartment rental went from 724 euros (£609) to 248 euros (£208) per night between January 19 and July 19.
As of July 22, the firm estimated the
number of rentals still available between 47 percent and 60 percent.
This is not, however, the only crisis Paris is facing during the Games. ‌Sébastien Jibrayel, local councillor for sports in Marseille has proposed selling tickets at lower prices to combat the empty stands.