Singapore hands down hefty fines to Airbnb hosts

In a landmark first ever conviction, two letting agents were fined S$60,000 (US$45,800) each for illegally renting out on Airbnb four flats in a luxury condo block in Singapore.

The fines are significantly more than the US$14,500 agents Terence Tan En Wei and Yao Songliang made for renting them out for several weeks last year.

Prosecutors said they listed the flats on Airbnb and other rental platforms.

They were the first to be convicted under strict rules banning all lettings less than three months without special approval.

The pair had already pleaded guilty.

Singapore has some of Asia’s strictest home letting regulations as about 80% of the population lives in subsidised housing.

The government’s Urban Redevelopment Authority is seeking public comments on a new regulatory framework for home sharing but its stringent penalties will remain in force until then.