Today we will consider the possibility of generating income from the acquisition of a unique format of real estate in Georgia, hotel apartments.
What is an apartment hotel?
The essence of the apart-hotel is that you get a kind of "apartment" in the hotel, a hotel room, where there is everything you need for a comfortable stay: a kitchen, a washing machine, furniture, etc. It is a fully equipped hotel room, which is ideal for living.
You get an additional management service in the form of the following package of services:
- concierge service,
- surveillance system,
- technical staff,
The advantage of purchasing a property in the apart-hotel is the opportunity to live independently and earn by renting out a room. At the same time, it is worth considering that the hotels have a developed infrastructure that attracts tourists and residents. Such advantages often do not exist in ordinary new residential buildings.
It is also worth noting the benefit directly from the management capabilities. The hotel room will always be clean and tidy because the management company will take care of it. As a rule, the standard package of services includes cleaning, property insurance, customer acquisition, settlement and transfer of your income for a certain period of time. A lot of apartment management companies provide the ability to monitor the income and condition of the apartment online.
The market situation in Georgia, Batumi.
Against the background of the growing demand for real estate in Georgia, many developers have started the implementation of projects in the format of apart-hotels. In particular, in Batumi, these are the companies Orbi Group, Alliance Group, NewTime. Many private investors are implementing projects of this type. It should be mentioned that the world hotel chains are represented in Batumi and offer investors the opportunity to purchase hotel rooms, such as Hilton, PortaTower, Marriot.
Analyzing the prospects of the Georgian economy, new legislation and benefits for investors, we can predict further growth of tourism and rising real estate prices. It should be noted that Batumi is attractive to tourists due to the climate and a unique combination of sea and mountains, and investors – opportunities to obtain a residence permit through purchasing real estate, no taxes on the purchase of real estate and beneficial % of the capitalization of the invested funds.
Assessing the current situation in the real estate management market of Georgia, it is worth noting that the market remains open for management companies, as for Georgia the format of real estate such as apart-hotel is new, and the volume of construction and the number of foreign investors is growing every year. At the moment, customers, buyers of hotel rooms, have the opportunity to entrust the management of either the developer or the management company. To do this, it is necessary to conclude an additional management contract. What to choose a management company, or entrust the management of the developer, we will tell in the next publication.
Search for the perfect apart-hotel in Batumi
If you have decided to invest in an apart hotel, and intend to buy an apartment in a hotel in Batumi, we recommend a good analysis of the market and the possibility of an acquisition.
A common format of acquisition in apart-hotels is the purchase of a whole floor in an existing hotel, or a new building and the organization of own hotel brand. Another common way is to find the best offer from the developer and purchase one or two rooms.
In the first case - "the organization of own hotel brand", you risk facing all difficulties of the organization of autonomous business - the organization of service, customer acquisition, marketing, personnel, etc. Acquiring ready numbers and transferring them to the management of similar risks is not present.
When you have decided on the best option, you need to find the best offer from the developers. GEOLN comes to your rescue when you are looking for an apartment hotel to purchase. No longer need to look for hundreds of developers’ sites, select those offers that suit you and compare.
Just open the search page https://geoln.com , choose new buildings in Batumi, property type "Apart-hotel", specify additional parameters. GEOLN real estate search service will provide you with suitable options, with direct contacts of developers, information about available areas, etc. Try It, it is convenient, saves time and effort.
Reminder from GEOLN
While buying property abroad it is necessary to take into account all the details of the transaction, the process of transfer of ownership, verification of translation of documents, differences in the legislation of the buyer and the seller, etc.
If you are not sure of the possibility to execute the purchase and sale transaction properly on your own, we recommend you to use the services of transaction support.
We are grateful for the choice and recommendations of GEOLN. Thanks to your feedback and recommendations, we are inspired to structure all the information in the world about real estate properties and make finding proven properties easy.
The Team of GEOLN