Airbnb-style short-term home sharing still illegal: URA

Singapore

THE decision by the Urban Redevelopment Authority (URA) to keep the status quo for short-term stays in private homes has likely triggered a collective sigh of relief from among hospitality players, who have seen their business eaten into.

This development means that rentals of private properties for periods of less than three consecutive months - popularised by the likes of home-sharing platforms Airbnb around the world - will remain illegal in Singapore.

Under the Planning Act, those who convert the use of a property for short-term accommodation without the URA's approval may be fined up to S$200,000 and/or jailed up to 12 months.

Christine Li, head of research for Singapore and South-east Asia for Cushman & Wakefield, said mid-market hotels and economy options - a segment offering 21,000 rooms, comprising 31 per cent of the market - are likely to benefit the most, because they are at a similar price point and target the …