Condos are not alternatives to hotels or short-term residences

The purchase of a residence is a major investment, both financially and emotionally, for people everywhere in the world and especially in Singapore, where property prices are high.

People are buying a place that they will call home for many years and will take many factors into account before signing on the dotted line.

Everybody is looking for a stable and safe environment that comes with a sense of community.

This is why private condominiums should not become an alternative to hotels or dedicated short-term residences (Condos should get 100% consent on home-sharing, by Mr Toh Cheng Seong; April 18).

The main goal of any regulation should be to protect the home owners, who have worked hard and saved over the years to buy a place to live in, rather than to accommodate the minority who want to monetise their property.

Investors who want to do so can always do it through the traditional rental market, which has even more flexibility now that the minimum rental period has been reduced from six months to three months.

Therefore, a 100 per cent consensus by stakeholders on short-term rentals seems to be a reasonable demand.

Herve Michel

A version of this article appeared in the print edition of The Straits Times on May 14, 2018, with the headline 'Condos are not alternatives to hotels or short-term residences'. Print Edition | Subscribe