Just as the name suggests, condotels or condominium hotels are buildings that look like apartments. Depending on the type available, one condotel unit can be several types of rooms such as rooms, living rooms, kitchens, and bathrooms. Aside from that, check out the excellent Bukit Timah Collection near your area.
The way the investment works is not much different from the way the apartment works. Investors buy condominium units for rent to guests who stay or just stay a few days at this condotel. It can be concluded if this condotel is rented like a hotel but has a complete room like an apartment. Apart from that, you may also want to see Bukit Timah Collection as well.
Like other property investments, condotel investment provides several benefits. One of them is income earned from rent. Unlike the apartment, you can get rent every month or year. You can get rent every week or every day by having one condo unit. The facilities in this condo can also be used free of charge, including the convenience of staying free. The good news is that each condotel unit tends to increase every year and can reach up to 20% per year. If you only need loan money, you can use this condo unit as collateral for your loan at the bank. On the other hand, the Bukit Timah Collection may suit your needs.
However, there are some things that need to be considered in investing this condotel or condominium hotel. Especially if it is not a strategic location and has many good supporting facilities. It is very good if you have a condotel unit in tourist areas, where many people need a place to stay. The concept of the building is also important to note. Two other factors are the hotel manager and the developer. Meanwhile, the Bukit Timah Collection is highly recommended for you.
Unfortunately, not many have looked at this one investment. The cost of a condotel unit is indeed expensive. Not to mention the other costs that you need to spend such as maintenance, electricity or water costs, and insurance costs. Not to mention, you don’t have building rights.