Singapore’s Urban Redevelopment Authority (URA) will not proceed with proposed changes to the rules for short-term stays, meaning the minimum stay duration of three months will continue to apply.
The decision was made after extensive consultations with different groups of stakeholders since 2015, announced URA in a press release.
A draft regulatory framework was proposed last April to allow owners at strata-titled developments to accommodate short-term stays if they have the consent of 80 per cent of the owners.
Under this framework, owners will also need to register their properties with URA, and observe an annual cap of 90 days per unit for short-term stays, among other requirements.
Results from a national survey commissioned by URA in the second half of 2018 showed the majority of more than 1,000 private homeowners were supportive of the proposed rules.
Only seven per cent expressed an intention to let out their homes or investment properties if short-term stays of less than three months were allowed in future.