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Pearl Bank Apartments demolition (shot in Feb 2020) The Singapore Urban Redevelopment Authority (URA) had previously agreed that there were merits to conserving the apartments as it had been one of the pioneering high-rise residential projects of a developing Singapore as well as being the precedent of future high-rise residential developments.
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
9flats is an online marketplace enabling people to lease or rent short-term lodging. The company does not own any lodging; it is merely a broker and receives commissions from both guests and hosts in conjunction with every booking. [2] The site competes with Airbnb. [3] It has over 50,000 members and 30,000 hosts in 104 countries. [4]
On 14 August 1984, Scotts Holdings opened The Ascott Singapore, the first international-class serviced residence in the Asia Pacific region. [2] The name “Ascott” was coined by Ameerali Jumabhoy to represent Scotts Road in Singapore [3] (where the first property was located at) and a nod to the famed British races at Ascot, due to the family's association with equestrian sports. [4]
Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
Great World, formerly known as Great World City, is a mixed-used development consisting of a 6-storey shopping mall, two 18-storey office towers and a 35-storey serviced apartment tower in the Central Area of Singapore.