Super rich sailors are spending more money renting houses for regatta than local people pay in rent for the entire year
When a house that normally rents for £500 a week can find a tenant willing to pay £16,000 for a nine-day let, it is a sure sign that there is big money in town.
The town is Cowes, in the Isle of Wight, and the money arrives with the annual Cowes Week sailing extravaganza. Sailors, socialites and the super-wealthy descended on the island this week for the 191-year-old sailing event which culminates on Saturday with a black tie champagne and cocktails awards party.