The Business Times
BRUNCH
·
SUBSCRIBERS

Stay awhile: How long-stay serviced apartments may change the housing landscape

The new long-stay serviced apartment format will have implications on Singapore’s rental market, but is likely to be a boon to developers

Kalpana Rashiwala

Kalpana Rashiwala

Published Fri, Mar 22, 2024 · 12:56 PM
    • The new rental housing option will serve a niche segment – between the minimum seven-day stay for the prevailing serviced apartment type and the private residential rental market, where most landlords would issue leases of one to two years.
    • Minting the long-stay serviced apartment category may be timely given that some young Singaporeans are open to renting initially when they fly the coop.
    • The new rental housing option will serve a niche segment – between the minimum seven-day stay for the prevailing serviced apartment type and the private residential rental market, where most landlords would issue leases of one to two years. ILLUSTRATION: SIMON ANG, BT
    • Minting the long-stay serviced apartment category may be timely given that some young Singaporeans are open to renting initially when they fly the coop. ILLUSTRATION: SIMON ANG, BT

    IN LATE November last year, the government unveiled a new category of serviced apartments following a boom in the rental market, with a longer minimum-stay requirement of three months to better meet demand. 

    At first glance, the new rental housing option appears late to the party as private residential rents have started to soften amid an easing in the housing shortage.

    Yet, there may still be a place in the Singapore residential accommodation spectrum for long-stay serviced apartments.

    BrunchServiced residencesResidentialSingapore property

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More