Serviced Apartments are the future of flexible living

The burgeoning economy of India has led to many people— expats and locals— gravitating towards economic hubs like Delhi, Bangalore, Pune, etc. This new wave of professionals and business people, along with other factors such as the spread of over-extended vacations, the growing travel economy, the increasingly popular remote work culture, have led to the creation of specific unique demands from the real estate sector.

Not to be overwhelmed by challenges, the real estate sector has met these unique demands with the solution of convenient and modern serviced apartments. Serviced apartments are fully-furnished ready apartments, which also provide additional services to their residents much related to a hotel. They are viable options for people looking to stay short-term as well as long-term.

The trend of short-term as well as long-term living, is slowly switching from hotels towards serviced apartments. These apartments have all the utilities and comfort of a hotel, without their impersonal and factory- line nature. Having an apartment to yourself rather than living in a hotel room gives people more independence and flexibility. As a person living in a serviced apartment, you can have people over for and socialize as you want in your newly adopted city rather than meeting in restaurants or hotels.

Some of the general amenities that come with a serviced apartment are central air conditioning, high-speed and unlimited WI-FI, opulent furnishings and finishes, televisions along with satellite connection, and regular cleaning and maintenance of the apartment. All lifestyle needs of the residents have catered with gardens, gyms, as well as kitchen amenities such as a fully equipped modular kitchen with appliances and equipment such as microwave oven, mini-refrigerator, toaster, electric water kettle, glassware, crockery, and cutlery. Some serviced apartments also come with exclusive services like that of a chef.

The end-users are not the only ones that derive benefits from serviced apartments; the investors and developers are also met with several advantages when it comes to serviced apartments. Unlike hotels— which are dependent on an uneven flow of tourists and the peaks and lows of holiday and off-season for their profits, serviced apartments have always met with a consistent flow of customers who stay for extended periods. This customer base, with its extended stay-times, provides investors with a steady stream of income due to the predictably stable occupancy rates.