04 Jan '18, 4pm

Home-share changing landscape of property market in cities

Home-share changing landscape of property market in cities

Singapore has strict rules for short-term housing rentals . And perhaps the restriction is a timely one. While home sharing has boosted the tourism industry, cities popular with tourists now find themselves in a bit of a bind. Home sharing pushing up property prices in some cities Jardin, Bukit Timah. Picture: iProperty In cities where housing shortages already exist, residents now find themselves priced out of the property market . Speculators and opportunistic investors are picking up properties and then pushing up rental rates. Residents looking for long-term accommodation may not be able to find a place to live while tourists invade neighbourhoods. There are no real means of enforcing or preventing the abhorrent actions of these short-term renters. And neighbours of these home-share properties are often left to deal with the mess and noise that comes with the business....

Full article: https://www.iproperty.com.sg/news/home-share-changing-lan...

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