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New long-stay serviced apartments a boon to developers, a bane for private landlords

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Leslie Yee

Leslie Yee

Published Mon, Apr 1, 2024 · 05:28 PM
    • To democratise real estate ownership, policymakers can perhaps nudge ownership of long-stay serviced apartments to rest with many individuals via vehicles such as widely held listed Reits.
    • To democratise real estate ownership, policymakers can perhaps nudge ownership of long-stay serviced apartments to rest with many individuals via vehicles such as widely held listed Reits. PHOTO: BT FILE

    HOME renters here will in future have more choices. Besides public and private homes, co-living spaces and serviced apartments with a minimum stay requirement of seven days, renters can choose a new category of accommodation: long-stay serviced apartments with a three-month minimum stay requirement.

    The new long-stay serviced apartments may better meet the needs of some space users. These include foreigners who are studying or working here, and locals who may rent as a start, or are awaiting the completion of a new home or one that is undergoing renovation.

    When long-stay serviced apartments come on stream, people who want to rent them for longer durations do not need to compete with those seeking shorter stays, such as tourists and business travellers.

    ResidentialSingapore residential propertyServiced residencesProperty developersProperty investmentGovernment Land SalesThe Level Ground

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