short term rentalsAfter the public consultation last year 2015 regarding short-term rentals, Singapore Urban Redevelopment Authority (URA) stated last 18 May, that more time is needed to review the issue.

Urban Redevelopment Authority (URA) revealed that the consultation which conduct from January until April 2015 results to "split, with no clear consensus".

The issue regarding short-term rentals is multi-faceted, complex, has wide-ranging implications and it warrants a balanced and careful review, URA added.

In Singapore, it is prohibited to rent a home for less than 6 months. Offenders of private home can be  jailed for up to a year and fined up to $200,000. However, listings for short-term rentals have emerged on home-sharing websites such as PandaBed, Roomorama and Airbnb.

The short-term rentals consultation came in 2 forms. The first was online survey that ran from January to February, it was open to the public and had around 2,000 respondents.

Another were consultation with approximately 100 participants, including representatives of hotel and serviced apartment, home-sharing portals, condominium management corporations and private housing estates neighbourhood committees.

While the review for short-term rentals is ongoing, the 6 month regulations will continue, and enforcement against misuse will be taken.

Written by Siang Teck of Property Review. I can be contacted at [email protected]