File photo of a private condominium in Singapore. (Photo: Eileen Poh)
SINGAPORE: The minimum rental period for private homes has been lowered from six to three months, the Urban Redevelopment Authority (URA) announced in a press release on Friday (Jun 30).
However, short-term rentals of less than three consecutive months, including those through online home-sharing platforms such as Airbnb and Roomorama, are still not allowed.
The move comes amid growing demand from groups seeking accommodation for periods of between three to six months, URA said. These include academics and students visiting local institutions of higher learning, and professionals on work assignments.
The minimum stay duration of six months was put in place in 2009.
“The feedback from this group has been that they prefer private residential properties, considering their choice of locations, range in unit sizes, and financial affordability, over hotels and serviced apartments,” URA said.
The revised minimum stay duration will provide these groups with more accommodation options, and also provide more rental opportunities for property owners, it said.
A public consultation on short-term stays conducted in 2015 also showed that the majority of respondents were supportive of a reduction in the minimum stay duration, URA said.