trending Market Intelligence /marketintelligence/en/news-insights/trending/rWXZxTdyc0yGapSlI9-dPA2 content esgSubNav
In This List

Singapore examines Airbnb's home rental operations


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Singapore examines Airbnb's home rental operations

The Urban Redevelopment Authority of Singapore is the latest in the list of hoteliers, regulators and apartment community owners to make a case against the practice of online marketplace and hospitality service provider Airbnb Inc., Reuters reported.

After two men who leased four apartments in the city-state through the apartment-sharing website became the first to be prosecuted for unauthorized short-term letting, Airbnb responded by calling Singapore's regulatory framework "untenable," the report noted.

Although Airbnb was not named as the arranger of the rentals in court documents, the company reached out to Singaporean resident groups and informed them of the proceedings, according to a message seen by the news outlet. Airbnb urged hosts to come forward with their reason for hosting and explain the importance of legalizing short-term home sharing.

The company, which has 8,700 listings in the city-state, believes Singapore's regulations do not mirror how locals travel or use their home. It added that rules revised earlier in 2017, which state that Singaporean private homes are subject to a minimum stay of three consecutive months, do not accommodate transient occupants.

The authorities plan to hold discussions with key stakeholders on how such accommodation may be allowed, the Dec. 13 report noted, adding that the previous consultation in 2015 failed to reach a clear consensus.