Of course, you’ve heard the term condotel. Do you know the difference between Condotel, hotel, and apartment? The term condotel is short for condominium hotels. Physically outside, we can see that Condotel appears as a vertical building consisting of various room units. At first glance, it looks exactly like an apartment, where there are room facilities, kitchen, living room and various other facilities like an apartment. In addition, the condotel is also given additional facilities such as a star hotel. Various additional facilities such as karaoke places, restaurants, meeting rooms and so on. Aside from that, if you’re looking for a condominium for your investment instead of a condotel, then we recommend you to take a look at the Piermont Grand EC showflat.
Room units purchased by investors will later be leased or can also be used for personal use. The difference from Condotel with the apartment lies in the procedures for managing it. If the management apartment is handed over to the owner of the room unit, that is the investor itself, but it is different from the Condotel.
In Condotel, investors will buy a room unit which is then rented to consumers or for personal purposes and the management is handed over to the Condotel management. In addition, the difference between condotel and hotel is in ownership, where the owner of a condotel unit is someone who later becomes an investor. It is different from hotels where each room unit is not sold to someone but is rented out to customers or guests who stay overnight.
With a variety of condotel facilities that are so complete, even exceeding apartment facilities and matching the facilities of a star hotel, of course, the price offered is also relatively higher. That is why this condotel investment is known as an investment with relatively high and long-term prices. Hearing the word “high price”, of course, makes us start switching to other investments at relatively cheap prices. However, high prices are not an obstacle, but an opportunity for us, especially you as investors because sales prices are skyrocketing over time.