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World

Room prices rocket in Rio

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Opening sequence

World

Room prices rocket in Rio

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COMING UP:Room prices rocket in Rio

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Transcript

00:00:02
>> With 97% of hotels in Rio booked solid for the Olympics, landlords are charging insanely high prices for tourists still looking for a place to crash. This six bedroom home is going for more than $4,000 a night. Sure, it has a pool, but it's far from the Olympic venues and Copacabana beach.
00:00:21
Reuters correspondent Juliana Schincariol.>> The Olympics will be the biggest demand Rio has ever seen with the biggest number of tourists according to the head of the Hotels Association in Rio. The price for the Olympics are very expensive but the price of their houses in Rio has been falling 10% over the 12 past months.
00:00:46
>> Real estate agents like Gustavo Falcao are hoping to make a killing while they can.>>
FOREIGN]
> I started receiving three or four requests for properties such as this one per week, and before we only had two per month. It went down with lots of news about Zika and political instability, but ended up rising again.
00:01:06
>> It's not just penthouses and the plush beach side neighborhoods of Leblon and Ipanema, bare brick homes clinging to the hillsides of Rio slums, lodging of all types is on offer. Airbnb says 30,000 people have so far found accommodation for the games using its website.