The growing attraction of serviced residences
Serviced residences are a revolutionary concept, seamlessly blending the comfort of residential living with the luxury of hotel-like services. These fully furnished units, complete with amenities such as housekeeping, concierge services, and access to gyms and pools, offer tenants the best of both worlds.
Their flexible lease terms cater to short and long stays, a feature that has sparked a growing interest among young professionals, expatriates, business travelers, and tourists.
Premium amenities
Serviced residences typically offer more space than hotel rooms. The unit amenities often include fully equipped kitchens, laundry facilities, and living spaces for relaxation and productivity.
Additionally, many serviced residences offer high-speed internet, cable TV, and other modern conveniences. The presence of on-site gyms, swimming pools, and even business centers further enhances their allure.
Investment potential
Expatriates and business travelers are among the primary tenants, as these individuals often seek flexible and convenient accommodation options. Professionals on temporary assignments find these properties more comfortable and practical than hotels, as they offer more space and stability. Tourists also prefer serviced residences for their home-like environment, which allows for a more immersive travel experience.
Stable rental income
Investing in serviced residences can yield higher returns compared to traditional rental properties. The high occupancy rates and professional management of these units contribute to a consistent rental income, providing a stable investment option. This stability makes serviced residences a reliable and reassuring investment option.
A-1 services
These may include regular housekeeping, concierge services for booking tickets or arranging transportation, and even personal shopping services. These services add convenience and luxury to everyday living. The availability of such services ensures that tenants can focus on their work or leisure activities without worrying about the day-to-day chores typically associated with traditional rentals.
Security and safety
These may include 24-hour surveillance, secure entry systems, and on-site security personnel. Such measures offer tenants peace of mind, knowing their safety is a top priority. This level of security is significant for expatriates and business travelers unfamiliar with their surroundings.
Torre Lorenzo’s approach
Torre Lorenzo Development Corp. exemplifies the successful application of serviced residences in the Philippine market. Its properties are strategically located in areas with high corporate activity, such as business districts and commercial centers, catering to business professionals, expatriates, and tourists. The strategic locations ensure tenants have easy access to business districts, entertainment options, and other essential services.
High end designs
Torre Lorenzo’s high end designs, tailored to the needs of modern tenants, offer a perfect blend of luxury and practicality. The aesthetic appeal of the units, coupled with the practical amenities, makes them a desirable choice for discerning tenants.
Consistent demand, high occupancy rates
The combination of strategic locations and high end designs ensures consistent demand and high occupancy rates for Torre Lorenzo’s serviced residences. The company’s reputation for quality and reliability attracts a steady stream of tenants, contributing to the overall stability of the investment.
The author (at www.ianfulgar.com) is a leading architect with an impressive portfolio of local and international clients. His team elevates hotels and resorts, condominiums, residences, and commercial and mixed-use township development projects with innovative, cutting-edge design and business solutions that have garnered industry recognition, making him the go-to expert for clients seeking to transform their real estate ventures
