What is a serviced apartment?
A serviced apartment can be referred to as a well-furnished modern apartment which includes all basic amenities of a house like a kitchen, washroom, dining area & other services that may be essential to the guest for a short term or a long term stay. The services are at par with any modern hotel & it is much more suitable for longer stays.
In the UK, the people from a business background and relocation markets tend to be the lion’s share of the occupants of the serviced apartments. Study reveals that most long term workers in requirement of a temporary place to stay opt for a serviced apartment. It includes commuters travelling to their offices weekly, and a small portion of it comprises tourists.
In any form of property, the users always look out for the location making the mantra of “Location, Location, Location” a common aspect to check out in the primary selection parameters. A good location of a serviced apartment can have various definitions to various kinds of people, but there are some common factors which influence their choice vastly.
Here we aim to discuss 5 such factors which form the base of the selection of a serviced apartment based on its location:
Centrality:
The residents of serviced apartments are mostly of the class of businessmen. Hence they prefer a central location of the apartment which is nearby to the main city & provides easy connectivity to other parts of the city along with other facilities like the availability of a shopping mall or a bank near the apartment. Therefore an ideal location can be near the metro station or the nearest bus stop, which will allow them to commute to their workplace easily.
Moreover, these kinds of locations also act as a lucrative choice for people who commute to their homes on a weekly basis due to their job in the city.
People who are wishing for a temporary shift to the city may prefer a less central location due to the increased price tag of the central locations.
For tourism purposes, people may prefer a remote location which is far away from the rush of the city or nearby to an excellent sight-seeing spot, thus allowing them to enjoy the beauty of the natural world.
Thus there is not one ideal definition of the centrality of the serviced apartment; rather, it depends on the type of people who are attaining the services. It varies according to the needs & demands of the residents.
Neighbourhood:
The locality in which a serviced apartment is located greatly influences the value and price point of a serviced apartment. People usually prefer to reside in an apartment located in a calm and quiet neighbourhood which is less susceptible to the noise pollution in the main city yet not located so far from the main area of the city
Be it people travelling for tourism or a businessman; they prefer a sound night’s sleep which is facilitated by a soothing neighbourhood rather than a loud and noisy one.
A truly holistic neighbourhood will comprise of the key factors like the appearance and the basic amenities that you get. In terms of appearance, large trees around the apartment and a quality landscaping consisting of parks or gardens make up the ideal outlook of a soothing neighbourhood.
In terms of the amenities available, people will always look forward to the presence of basic facilities like banks, post offices, nearby restaurants or a hospital which will come in handy in case of any emergency.
The presence of friendly people in the neighbourhood also boosts the value of serviced apartments as it provides a sense of community which is admired by most people, especially by the ones who opt for a longer stay. It acts as a home away from home with all available facilities at your disposal.
Safety:
Safety is always a paramount factor while determining the ideal location for a serviced apartment. Nobody likes to reside in an area with a high crime rate.
Especially with the rise in single female residents in the serviced apartments in the past few days, the factor of safety has been the spotlight.
A neighbourhood which has a low crime record and allows the residents to roam freely even at odd hours is much more in demand than its counterparts. A place which is safe to be outdoors and has welcoming neighbours is always a choice which plays a pivotal role in the selection of the location of the serviced apartment.
Many people suffer from the misconception that big cities are safer than the suburban areas, while in reality, it is not the case. The big cities with a large population have a much higher crime rate than peaceful neighbourhoods.
It is not only about the outdoor safety but also indoor safety, safe apartments with good locking mechanisms and welcoming owners help gain the trust of customers ensuring a longer stay at the serviced apartment.
Safety is the single most quintessential factor & it should not be compromised at the cost of anything.
Services:
The services and amenities that are available in a serviced apartment also vary with the location of the apartment.
The apartments located in posh locations tend to provide a more luxurious service while the ones located in the suburban areas cater to only the basic amenities during the stay.
Needless to mention that the price tag also varies heavily with the apartments located in posh areas costing a large sum of money whereas the ones in other areas are relatively cheaper in comparison.
Luxury apartments provide benefits like the state of the art facilities, high-end interiors & spacious living areas along with services like 24 hours on-call staff, personal swimming pool and access to a gym. Sometimes they also come with an assorted chef who prepares meals according to your taste.
Normal apartments on the other hand provide basic facilities like clean drinking water, a kitchen and a laundry service.
At the end of the day, this factor is solely determined by the amount of money that you want to spend on your stay and the amount of comfort and luxury that you strive for.
Variance in choice of location with duration of stay:
It has been observed that the duration of the stay in the serviced apartments vastly affects the demands for the location of the apartment.
As an example people opting for a short term stay wish for an apartment within the city and having a good reach so that they can easily attend their meetings or other work which usually takes place in the city. These type of people do not give much thought regarding the harmony in the neighbourhood or the greenery around the apartment.
On the other hand, people who wish for a longer stay like the people who want to relocate or the tourists look for an apartment within a calm neighbourhood having greenery and scenic beauty around it.
The study has also suggested that individual people prefer an apartment which is in the hustle and bustle of the city while people deciding to stay with their family prefer a neighbourhood having the sense of community and harmony.
Location of the apartment is not always subjective , it is based loosely on the aforementioned principles. If you are looking for a serviced apartment , make sure to ponder upon these points before arriving at a conclusion.
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