09 Feb '18, 1am

How will home-sharing affect real estate landscape?

Home-sharing looks like it’s here to stay. And the Singapore authorities is realising that the best reaction to this growing phenomenon could be “if you can’t fight them, join them”. Or at least manage them. And that may not be such a bad thing in the long run. Proposed rules for home-sharing released in April for feedback The Skywoods , Bukit Panjang. Picture: iProperty One of the most popular home-sharing websites, Airbnb , recognises that Singapore has one of the most restrictive short-term rental rules in the world. But before amendments are legislatively made to the Planning Act , the current rules disallow short-term stays below a specific period. For private properties , the minimum is 3 months and for HDB flats , 6 months. Under the Planning Act, offenders can be fined up to $200,000 and may also face jail time. While the Urban Redevelopment Authorities (URA) has s...

Full article: https://www.iproperty.com.sg/news/how-will-home-sharing-a...

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