Condotel is an acronym for Condo & Hotel. Means Apartment Hotel or Apartment Hotel.
The concept is very popular in the world market but still quite new in Vietnam. Condotel brings "dual" values to customers, it gradually becomes a new investment trend.
HOW IT WORKS
Condotel is a combination of two types of real estate. Therefore, it has both the activities of a hotel and the function of an apartment complex. Specifically:
Functions of a hotel:
Apartment function:
FINANCIAL BENEFITS
There are 4 main factors when it comes to financial benefits
SHOULD BUY CONDOTEL APARTMENT OR NOT?
- Due to the above risks, when investing in a condotel project, it is necessary to carefully consider the legal nature of the project to assess how your ownership interests are.
- When signing a contract to assign the investor to manage their real estate, it is also necessary to carefully study the terms, conditions as well as their rights in it.
- It is necessary to evaluate the market in terms of the project construction area as well as the profitability of the project. There are also worst-case scenarios, if the investor or management unit is no longer involved in project management, how will the condotel buyer handle the large amount of investment spent.