Ammendments to the Planning Act will put an end to two rental related practices, makeing the use of private residential properties for rent under six months illegal and housing more than six tenants in each unit. However, the Singapore Government is looking at shortneing the six month requirement for private housing rentals.
Airbnb has, in recent years, led the way in short-term rentals around the world but frequently comes up against local legislation and authorities that view the sevrices as disruptive and at the cost of long-term rental demand in markets where accomodation is tight. The hotel industry has also been caught by the high demand for Airbnb services and seems to have little answer to rise in the demand of the sharing community.
Singapore faces different types of issue as there is an over supply of long-term rentals. Legislation is concerned with appropiate controls, licensing and standards. Complaints from the public are also being taken into consideration.
In the meantime, long-term residential rental platforms, such as RENTALS. SG, remain unaffected as they provide direct landlord to tenant long-term rentals solutions for apartments and condominiums.