Serviced apartments between the hospitality sector and the housing sector have been mistakenly correlated with each other and although different in terms of services and facilities, they are lumped together under the same category based on its land title. Nevertheless, there is no denying that serviced apartments in their respective segments are getting more and more competitive and are becoming a bigger piece of the property pie.
Recently, many towns situated close to major cities like Kuala Lumpur and Kota Kinabalu have started to adopt the idea of both types of serviced apartments. Developers believe that this would help stimulate economic growth and provide more options for homebuyers.
1. 68% cannot identify the different types of serviced apartments in the market.
2.Study all the documents - the sale and purchase agreements, lease agreements, deed of mutual covenant, termination terms, etc.
3. 69% supports the idea of mix-use development of serviced apartments.
4. Mixed-user apartments give convenient access to food and entertainment, and provide an avenue for social activities as well as job opportunities which eliminates having to drive out.
5. More than 50% would like to live in serviced apartments.
6. Because serviced apartments are built on commercial land, do take note that water and electricity are charged based on commercial property rated.