Singapore proposes allowing Airbnb-type rentals with conditions
Private homes in Singapore are currently subject to a minimum rental period of three consecutive months, and such strict rules make the city-state one of the tougher markets in which Airbnb operates.
Two Airbnb hosts were fined S$60,000 ($45,800) each by a local court this month for unauthorized short-term letting.
Singapore’s proposal to limit rentals days is broadly in line with measures introduced by other cities such as Paris, London and Amsterdam. The city state has begun seeking public feedback on the proposal and other measures to regulate the sector.
While Singapore has been an early adopter of the sharing economy, it is also keen to minimize any potential negative impact of allowing short-term rentals, as most of the wealthy but land-scarce city-state’s 5.6 million people live in public and private apartments.
The proposed rules require that a significant majority of owners in a condominium complex agree to the presence of short-term rentals in their development. ■