Home-share accommodation firm Airbnb indicated it might double its marketing investments in India to increase its visibility in the regional market.
The rental startup’s Asia-Pacific (APAC) Regional Director Siew Kum Hong revealed that the number of listings on Airbnb in India went up 150 per cent in the last year.
In contrast, Singapore, where its Asia-Pacific (APAC) headquarters is based, decided not to relax its restrictions on short-term rentals. In May this year, the Singapore Urban Redevelopment Authority (URA) announced that current limits on vacation rentals will remain after an extensive survey and discussions with residents, property owners and home sharing platforms like Airbnb and HomeAway.
Those consultations included a national survey, which URA said showed the majority of Singaporeans supported the existing laws.
“Based on the totality of responses from all stakeholders to the proposed framework, URA has decided to maintain the status quo at this time. URA will continue to enforce the current requirement for a minimum stay duration of three months in private residential properties,” it stated.
Speaking at the Skift Forum in Singapore recently, Siew added that whereas he is disappointed that the Singapore government will not be revising the rules that have limited the short term letting of private property to tourists, he is optimistic of Airbnb's business in the region.
“The bright sparks are India and China,” Siew stated.
Singapore is not the only major city with restrictions on Airbnb's operations. Among others, Paris, Barcelona, and Berlin have regulations in place.
Airbnb, founded and headquartered in San Francisco, is expected to seek a public listing by 2020 with rumours that it may even do so in 2019 itself.
