Recently, the Urban Redevelopment Authority (URA) proposed to allow the short-term rental of condos on platforms like Airbnb, if owners holding at least 80% of the development’s share value allow for these rentals. Additionally, owners would only be allowed to rent out their Condo for 90 days a year and provide guest details for each stay. Currently, these rentals are illegal and you might remember the two Airbnb hosts who were fined $60,000 each recently.
There are mixed reactions about URA’s new proposal. Some think that it will be a good source of additional income without needing residents to downgrade, others believe that it will harm ‘Kampong Spirit’ of a residential area and result in more wear and tear of amenities.
Either way, thankfully other countries have Airbnb housing for our summer trips.