{"id":68842,"date":"2017-10-12T11:14:44","date_gmt":"2017-10-12T04:14:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sharing-on-the-rise-despite-government-restriction\/"},"modified":"2017-10-12T12:05:12","modified_gmt":"2017-10-12T05:05:12","slug":"home-sharing-on-the-rise-despite-government-restriction","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sharing-on-the-rise-despite-government-restriction\/","title":{"rendered":"Home-sharing on the rise despite government restriction"},"content":{"rendered":"


\nChua Hak Bin, an economist with Maybank Kim Eng Research said, \u201cHome-sharing may attract a new segment of visitors who would have otherwise not come to Singapore.\u201d
\nAlthough the likes of Airbnb are restricted from operating in Singapore, home-sharing has been slowly growing in the city-state as evidenced by the drop in hotel receipts and stagnant hotel rates, despite the pick up in tourist arrivals, reported Bloomberg.
\nThere is also the rising number of complaints on short-term rentals. Minister for National Development Lawrence Wong in August revealed that they have received 415 complaints on short-term rentals during the first seven months of the year \u2013 making 2017 on track to reach 711 cases, up from 2016\u2019s 608.
\nThe Urban Redevelopment Authority (URA), which instituted a three-month minimum period for private home rentals in June, revealed that a public consultation process and separate talks with industry players, such as hotel operators and Airbnb, failed to arrive at a clear consensus.
\n\u201cThe issue on short-term stays is complex, multi-faceted and has wide-ranging implications,\u201d said the URA. \u201cWhile there is a place for short-term rental platforms in Singapore, what the government intends to do is to carefully review and consider safeguards in places to ensure that such rentals do not negatively affect the amenities of residential estates.\u201d
\nNee Soon GRC MP Louis Ng Kok Kwan, however, urged the government to regulate instead of ban home-sharing services, much like the approach it had taken with car-sharing businesses like Grab and Uber.
\nSelena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp. in Singapore, said that the government could take \u201ca bit of give-and-take\u201d approach in regulating the industry.
\nAccording to her, the government could take \u201cmore of a laissez-faire approach. You consult, you do a little trial-and-error, rather than say no outright\u201d.
\nBut \u201cif there\u2019s a very big push from the ground\u201d, then the government could \u201clook at enforcing it a little bit more strictly\u201d.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Home-sharing on the rise despite government restriction<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Chua Hak Bin, an economist with Maybank Kim Eng Research said, \u201cHome-sharing may attract a...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-68842","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-hUm","jetpack-related-posts":[{"id":61368,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/get-the-guru-view-shorter-lease-tenures-but-not-short-enough\/","url_meta":{"origin":68842,"position":0},"title":"Get the Guru View: Shorter lease tenures, but not short enough","date":"July 21, 2017","format":false,"excerpt":"\r Listing of HDB flats and private apartments on home sharing platforms is not legal, but some homeowners seem willing to take the risk due to the stagnant rental market.\u00a0 The state has reduced the minimum lease term to three months, rather than the previous six,\u00a0but continues to outlaw short-term\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/07\/Figure-1-1024x556.jpg?fit=1024%2C556&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rising-tensions-over-airbnb-rentals\/","url_meta":{"origin":68842,"position":1},"title":"Rising tensions over Airbnb rentals","date":"July 11, 2016","format":false,"excerpt":"\r It is illegal for homeowners in Singapore to sublet their houses to tourists. There appears to be growing tensions over users of short-term rental services like Airbnb, with the latest case involving a woman who went to great lengths just to take her neighbour to task for accommodating guests\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106973,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/like-it-or-not-airbnb-rentals-will-remain-illegal-here\/","url_meta":{"origin":68842,"position":2},"title":"Like It Or Not, Airbnb Rentals Will Remain Illegal Here","date":"May 9, 2019","format":false,"excerpt":"\r The URA arrived at the decision following extensive consultations with key stakeholders on the proposed regulatory framework for the use of private homes for short-term accommodation\u00a0 Airbnb-style short-term accommodation will remain illegal in Singapore, announced the Urban Redevelopment Authority (URA) on Wednesday (8 May). This means the minimum stay\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43293,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/condos-pass-by-laws-to-curb-short-term-rentals\/","url_meta":{"origin":68842,"position":3},"title":"Condos pass by-laws to curb short-term rentals","date":"February 8, 2017","format":false,"excerpt":"\r The government is considering creating a new building-use category for private homes whose owners wish to offer their property for short-term rent.\u00a0 In light of the growing number of homes offered for short-term rentals, the management committees of some condominiums have taken matters into their own hands by passing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18720,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/crackdown-on-airbnb-style-holiday-rentals-in-phuket\/","url_meta":{"origin":68842,"position":4},"title":"Crackdown on Airbnb style holiday rentals in Phuket","date":"July 5, 2016","format":false,"excerpt":"\r Short term holiday rentals not only raise safety concerns and pose a nuisance for neighbors, they also fall foul of the law Many of Phuket\u2019s luxury hotels are being usurped by illegal hotel style rentals at luxury condos. Image credit: Roderick Eime (Flickr) Cape Panwa Hotel Short term \u201choliday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-options-for-your-singapore-home-when-you-relocate-overseas\/","url_meta":{"origin":68842,"position":5},"title":"Three options for your Singapore home when you relocate overseas","date":"July 22, 2016","format":false,"excerpt":"\r Many homeowners relocating overseas often choose to rent their homes out. If you\u2019re relocating overseas, one of the biggest issues is what to do with your home when you are away. 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