On average, a serviced apartment provides 30% more space than a hotel room costing the same price. Serviced apartments offer better value and more space than a hotel, but the longer your stay is, the better the value they offer.30 Jul 2020
Is rent in Hong Kong expensive?
Cost of living in Hong Kong is, on average, 15.38% higher than in United States. Rent in Hong Kong is, on average, 76.00% higher than in United States.
Can you buy and live in a serviced apartment?
In some buildings, it is possible to buy serviced apartments that are not currently under a management agreement. However, because it's classed as a serviced apartment, you are still obligated to have short term leases, and you can't live in it as your main residence.
What is the average rent in Hong Kong?
In 2021, the average monthly rent for public and private permanent housing in Hong Kong's New Territories was 66 Hong Kong dollars per square meters.4 days ago
Why do people stay in serviced apartments?
Many people choose serviced apartments because they have that 'home away from home' feeling. Instead, you'll feel like you're staying at your new (temporary) home, which is only going to give you more time to relax while on holiday. The added privacy of serviced apartments will give you comfort as you unwind.
How does buying a serviced apartment work?
Guaranteed rental income. When you purchase a serviced apartment, you enter into a lease agreement with a management company, as opposed to a tenant. The company will then pay you the agreed rental rate for the term of the lease, which could include pre-negotiated rental reviews to ensure you get a fair market rate.
Can you live in a serviced apartment?
Compared to a hotel room, serviced apartments or serviced accommodation offers more space to live in and relax. For more extended stay business guests who choose to stay in a serviced apartment, ensure a secure, spacious base where they can reside and work.30 Apr 2021
What can I expect from a serviced apartment?
- A fully equipped kitchen, usually with both dishwasher and washer/dryer.
- One or more separate bedrooms, or in studio apartments, a designated sleeping area.
- A living area.
- A bathroom.
- TV, Wi-Fi and the latest in-room technology.
- All utilities included i.e. water & electricity.
How long can you stay in a serviced apartment?
4. Typical length of stay. With the exception of extended-stay hotels, most hotels are meant for shorter stays. A serviced apartment is geared toward stays of a month or longer.8 Feb 2021
What it like living in a serviced apartment?
They feel more like home than a hotel, and often work out cheaper especially because they offer discounts for longer term stays. Serviced apartments often have cooking facilities, if not a full kitchen. You get all the basic amenities of a home, including linen, towels, and kitchen utensils.
What does serviced apartment mean?
Serviced apartments are fully furnished with all the typical furniture you'd find in a home. They're also fully equipped with everything you need to work, cook and live, from a desk to pots and pans to laundry baskets. Speaking of laundry baskets: many serviced apartments even have an in-unit washer/dryer.8 Feb 2021
Can we cook in service apartment?
The availability of the facilities in the apartment mean you can cook whenever you wish, work whenever you need to work, and there's the added space to entertain guests or hold business meetings all within your own private space and at times that suit.20 Dec 2020
Do serviced apartments have kitchens?
Kitchen. A serviced apartment will include a full sized, fully equipped kitchen, enabling you to prepare homemade meals and store food and beverages in the refrigerator. You can eat healthier and save money on dining out, too!8 Feb 2021