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Accommodation Trends with Apartments in Bahria Town Lahore

The serviced apartment business in Bahria Town Lahore is growing due to aggressive accommodation competition in Lahore. It is significant to understand the reasons for the fierce accommodation race. The characteristics and situation of serviced apartments are essential E-marketing in the hospitality and tourism industry. Investors need to understand consumer behavior on the Internet, marketing Mix factors that affect consumer buying and purchasing decision process. Nexthome.pk views Bahria Prime Tower Apartments investment as the potential-possessing thing to go.

What are the Serviced Apartments?

The serviced apartments have become a choice for tourists who plan to stay in Bahria Town Lahore for the long term. Presently, Bahria Town Lahore’s low-end and middle-level property market tends to aggressively surge because the number of local and foreign homebuyers is increasing.
These groups of homebuyers prefer to buy a one-bedroom apartment with low-priced property.

What are Other Apartments Trendier in BTL?

It is not only the number of serviced apartments increasing, but also other kinds of accommodation are growing, such as condominiums. In Bahria Town Lahore, the condominium supply has seen a notable increase to hundreds of units, marking a 17% rise since 2011. This expansion covers condominiums priced at 70% experiencing demand due to their affordable pricing. This attracts investors and local residents looking for investment opportunities in apartments.

Why are Serviced Apartments Potential Yielding?

Investors in serviced apartments are primarily motivated by deriving rental income from the property due to long-term rental contracts. Consequently, apartments for sale pose a substantial competitive threat to long-term rental serviced apartments. Moreover, serviced apartments also compete with hotels with 1 to 3-star ratings as they target similar customer demographics.

Definition Checklist

  • Managed by a professional team providing on-site management.
  • Offers serviced apartment products to the general public.
  • Separates permanent residential and serviced apartment products.
  • Provides a minimum studio apartment room containing a bedroom and living room.
  • Includes self-catering areas, facilities, and bathrooms.
  • Arrange for laundry facilities.
  • Offers daily room service as an option.
  • Provides both short and long-term stay options.

Serviced Apartment Overview

A serviced apartment is a classification of furnished apartment and rental facility similar to a hotel. They offer both short and long-term accommodation for corporate and leisure travelers. Typically, these apartments consist of at least a studio apartment including sleeping with living and food preparation areas. They should provide laundry facilities with daily room service. Serviced apartments are often more cost-effective than equivalent hotel rooms. It frequently offers services such as cleaning and linen changing provided by the owner, manager, or their agents. They also offer laundry services or facilities to guests.

What are the Types of Serviced Apartments?

There are two main types of serviced apartments. The first one is the extended hotels or apart-hotels. These mainly provide studio and one-bedroom apartments with a few bedroom options and a reception desk. These apartments range from budget to deluxe rooms and are fully furnished.
While other types are family apartments, these have rooms en-suite bathrooms, kitchenettes, dining areas, working areas, internet access, and direct telephone lines. Restaurants, bars, or lounge areas are typically unnecessary, as guests can utilize kitchen facilities for dining.

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