Serviced apartments refer to fully furnished properties that are available for both short or long-term let. They offer facilities much like a traditional hotel but with added space, convenience and privacy like home, so the guest can enjoy living like a local when traveling – and usually at a much lower cost. To put it simply, our investors purchase the property and we run a service model on it for them.
With the relationships we’ve formed over the last years and through our subsidiaries, we will effectively market their apartment for them and maintain and service it. From the investors’ point of view, they don’t have to get involved in all of that. Serviced flats can be very profitable for investors but there are some key things to consider when it comes to the management of that kind of property and it’s important to choose the right letting agent. We already have the know-how since we have incorporated the serviced apartment concept into our business model for Royal Blue Istanbul Villas.