What are Serviced Apartments? Advantages & Disadvantages
Serviced apartments are becoming increasingly popular, especially among young professionals, businesspeople, and expatriates. So, what exactly are serviced apartments? Let Ngọc Thành Vinhomes guide you through everything you need to know!
Serviced Apartments – The Perfect Combination of Apartments and Hotels
What are serviced apartments?
Serviced apartments, also known as “serviced apartments”, are a type of accommodation that combines the comfort of an apartment with the professional services of a hotel. In simple terms, you can enjoy the spacious, private living space of a home while being pampered with services like housekeeping, laundry, and 24/7 security. The main differences between serviced apartments and traditional hotels are:
- Living space: Apartments are usually larger than hotel rooms, including separate living rooms, bedrooms, kitchens, and dining areas. This offers more comfort and privacy, especially for long-term tenants or families with children.
- Conveniences: Apartments come fully furnished and equipped with household appliances such as TVs, refrigerators, washing machines, and stoves. You have the freedom to cook, do laundry, and live just like in your own home.
- Services: Apartments provide hotel-like services such as cleaning, laundry, 24/7 reception, and security. However, the frequency of these services can be more flexible based on tenant needs.
- Rental duration: Hotels typically cater to short-term stays, while serviced apartments allow you to rent by the day, week, month, or even year. This makes them particularly suitable for those requiring long-term accommodation or uncertain about their length of stay.
- Cost: In general, renting a serviced apartment may be more expensive than a hotel for a short stay, but it is more economical for long-term rentals.
Who typically chooses serviced apartments?
Apartments are an ideal choice for a variety of customers, including:
- Expatriates who are in Vietnam for business or long-term residence.
- Businesspeople who travel frequently and need a comfortable, convenient living space.
- Families with children or elderly members who need spacious and private accommodations.
- Tourists who want to experience local life and enjoy the freedom to cook and live as locals do.
- Young couples who are not yet ready to buy a house or are in the process of searching for stable housing.
Luxurious Amenities and Services – A High-Class Living Experience
Modern interiors and equipment in serviced apartments
Serviced apartments are often designed with modern, luxurious interiors, creating a comfortable and convenient environment for residents. Common features include:
- Spacious living rooms with sofas, coffee tables, and TVs.
- Separate bedrooms with beds, wardrobes, and dressing tables.
- Fully equipped kitchens with cabinets, stoves, microwaves, refrigerators, and dishwashers.
- Modern bathrooms with bathtubs or showers, sinks, and mirrors.
- Balconies or large windows to bring in natural light and create an airy space.
- Some high-end serviced apartments also feature additional rooms like home offices, reading rooms, and entertainment spaces.
Accompanying services like cleaning, laundry, and security
Serviced apartments not only offer a comfortable living space but also provide professional services that help tenants save time and fully enjoy their living experience. Common services include:
- Regular housekeeping, either daily or weekly.
- Laundry services for clothes.
- 24/7 reception to assist tenants at all times.
- 24/7 security to ensure the safety of residents.
- Technical services for repairing appliances in the apartment.
- Car rental services, flight booking, and tour arrangements.
- Some serviced apartments also offer airport transfer services and in-room dining.
Building amenities like swimming pools, gyms, and playgrounds
In addition to in-apartment amenities and services, residents can enjoy common building facilities that offer a convenient and dynamic lifestyle. Common amenities include:
- Indoor or outdoor swimming pools.
- Modern gyms fully equipped with workout machines.
- Safe and fun children’s playgrounds.
- Gardens and outdoor BBQ areas.
- Community rooms and libraries.
- Mini-markets, restaurants, and cafes.
- Health care and spa services.
Advantages and Disadvantages – Consider Before Choosing
Benefits of renting serviced apartments
- Privacy and comfort: Apartments provide a private, spacious, and comfortable living environment compared to hotels, allowing you to live and relax in your own way.
- Flexibility: You can choose a rental period that suits your needs, from short-term to long-term, without being bound by hotel policies.
- Cost savings: Compared to long-term hotel stays, apartments can help you save significant costs, especially if you cook at home or use the building’s shared amenities.
- Local living experience: Apartments allow you to experience local life and freely explore the city and its culture.
Disadvantages to keep in mind
- Higher initial costs: Renting a serviced apartment is often more expensive than other types of housing, such as condominiums or shared apartments, especially in high-end serviced apartments.
- Not suitable for long-term settlement: If you plan to settle down in one place for the long term, buying a home or a private apartment may be more economical in the long run.
- Less social interaction: Compared to hotels or homestays, serviced apartments may offer fewer opportunities to socialize and connect with others.
Comparison of serviced apartments with other types of accommodation
| Accommodation Type | Advantages | Disadvantages | Suitable For |
|---|---|---|---|
| Serviced Apartments | Convenient, private, flexible, full services | High cost, not suitable for long-term settlement | Expats, businesspeople, families, long-term travelers |
| Hotels | Convenient, professional services, many amenities | High cost, small space, less privacy | Short-term tourists, business trips |
| Condominiums | Lower cost, stable, spacious | No services, need to furnish yourself | Long-term residents, families |
| Homestays | Cultural experience, low cost | Basic amenities, less privacy | Backpackers, experience-seekers |
| Rental Villas | Luxury, spacious, total privacy | Very high cost | Large families, groups of friends, special events |
Future Trends in Serviced Apartments
The growth of the serviced apartment market in Vietnam and globally
The serviced apartment market is witnessing strong growth worldwide, especially in major cities and tourist centers. In Vietnam, serviced apartments are also growing rapidly, particularly in large cities like Hanoi, Ho Chi Minh City, and Da Nang. This growth is driven by the increasing demand from expatriates, business professionals, and travelers who seek a comfortable, flexible living space. Factors driving this growth include:
- Economic growth and urbanization: Vietnam’s rapid economic development and urbanization have attracted a large influx of foreign investment and international professionals, creating high demand for high-quality, convenient housing solutions like serviced apartments.
- Changing consumer lifestyles and needs: Today, consumers, particularly the younger generation and high-income individuals, are increasingly concerned with the quality of life and personal experiences. They seek living spaces that not only meet basic needs but also provide comfort, convenience, and modern living styles.
- Tourism development: The growth of the tourism industry has also contributed to the rising demand for serviced apartments. Travelers, especially those on extended stays, prefer apartments over traditional hotels because of the spaciousness, convenience, and privacy they offer.
Predictions for the future of serviced apartments
With its potential and positive development trends, serviced apartments are expected to remain an attractive segment in the Vietnamese real estate market in the coming years. Investors and developers are increasingly interested in developing high-quality serviced apartment projects to meet the diverse needs of customers. In addition, the development of technology and green living trends will also impact the serviced apartment market. Smart apartments that integrate modern technology and eco-friendly solutions will become increasingly popular.
Advice from Ngọc Thành Vinhomes
Serviced apartments are an attractive housing option for those seeking the perfect combination of convenience, service, and flexibility. If you are considering renting a serviced apartment, be sure to thoroughly research the projects, amenities, services, and costs to make the best decision that fits your needs and budget. Don’t forget to leave a comment, share this article, or visit vinhomesplace.com to learn more about Vinhomes’ high-quality serviced apartment projects. Ngọc Thành Vinhomes is always ready to accompany you on your journey to find the ideal home!
