30 Jun '17, 8am

Singapore shortens its minimum stay requirements for home rentals

Singapore cut the minimum period allowed for home rentals by half to three months, citing growing demand from tenants seeking shorter-term leases. All home occupants must fulfill a minimum stay duration of three consecutive months, while shorter stays including those facilitated through home-sharing platforms are still not allowed, the Urban Redevelopment Authority said in a statement on its website Friday. Singapore had set the six-month minimum stay requirement in 2009. “In recent years, we have observed growing demand from groups seeking accommodation for periods of between three to six months,” the URA said in the statement, referring to prospective tenants including academics, visiting students and professionals on work assignments. The feedback from such tenants was that they prefer private residential properties over hotels and serviced apartments, as they consider ...

Full article: https://www.bloomberg.com/news/articles/2017-06-30/singap...

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