The ideal of investing in serviced apartments is full and the reality is very skinny.

Hotel-style apartments are favored by many buyers because of their low total price and convenient life. However, is its real rate of return really as high as advertised? What are the hidden costs behind it? In the context of expected price increases and purchase restrictions, what other issues should be paid attention to when investing in serviced apartments? Let's restore the investment truth of serviced apartments one by one.

Securities Times reporter Chen Chunyu

"Small investment, high return, superior to wealth management products", "Guaranteed annualized income of 6%, rigid payment", "Free stay, enjoy a 30-day long vacation". Recently, the property market promotion advertisements from Huizhou, Dongguan, Sanya and other places. Once again, these attractive words all point to the same project type-serviced apartment.

Under the policy of stock market downturn and property market restriction, investing in serviced apartments looks beautiful, but the actual price is worth pondering.

6% cashback +36 days/year

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Recently, Ms. Liu, a citizen of Shenzhen, received a text message. A real estate developer said that his serviced apartment project not only gets 6% annual income, but also has the right to live for 36 days a year.

According to the clue provided by Ms. Liu, the reporter contacted the developer. Mr. Liu, a salesperson, introduced that their project is located in Shuangyuewan, Huizhou, and is operated by Howard Johnson International Hotel Group, which has been established for more than 80 years and is a listed company on the New York Stock Exchange.

It is understood that the price of this serviced apartment with rent and dividends is about 1.5 million yuan/square meter, but now it is sold according to theory, with the area ranging from 69 square meters to 1.8 1 square meter, and the price of each set is between1.00-2 million yuan. After the owner buys the serviced apartment, he can get a fixed return of 6% every year, and stay free 1 year for 36 days.

According to Mr. Liu, the 36-day gift is not limited to spending in Shuangyuewan. The Group has similar serviced apartments in Zhangjiajie, Sanya and other tourist attractions, where they can all stay for free, and can also give away additional consumption items such as hot spring tickets.

Take a 69-square-meter apartment as an example, the price is about 6,543,800 yuan, and the annual income of 6% is 60,000 yuan, which is guaranteed. No matter how the hotel operates, this income will be paid to investors every three months. In order to ensure timely payment, the hotel management will take out 20 million yuan as a deposit at the beginning of the opening.

"Even if you don't like the environment here after two or three years, you can still sell it," Mr. Liu said. Although it is a hotel-style apartment, it will have an independent property right certificate and can be transferred. In addition to a fixed monthly return, you can also enjoy the appreciation of the house itself.

In fact, compared with the fixed annual income of 6% in Shuangyuewan, this is not the best. Bo Shi Hotel, an apartment building in Chengdu, once gave a super high return of 10% rent back. However, unlike the former, the latter is a business hotel apartment. According to reports, its current average price is 1.2 million yuan/square meter, and the apartment area is about 4 1 square meter. Contract and lease back quarterly, with an annual return rate of 15.2%. In other words, it only needs 500,000 yuan to invest in a set, and the annual rent is as high as 76,000 yuan, which can be collected in less than 8 years.

Rising costs

How do managers pay benefits?

This investment method sounds beautiful, but after a rough calculation, if the annual income is 15% and the annual return rate of investors is more than 70,000 yuan, then the daily rent must be at least above 200 yuan, and it will be full for 365 days. At present, some chain convenience hotels in Chengdu, such as 7 Days, Home Inn, etc. The retail price of some rooms is lower than that of 200 yuan, and the room with higher price is lower than that of 300 yuan, with obvious points in the off-season. On the other hand, in addition to paying investors' income, hotel-style apartments also have labor, water and electricity costs, which should be included in the cost. In other words, after opening to the outside world, managers need to raise the price of 200 yuan on a daily basis.

In such a business situation, how can serviced apartments achieve guaranteed income for investors? The director of a real estate company in Shanghai hit the nail on the head: "The fixed return promised by developers is often just the illusion that developers use investors' purchase money to pay the rental return in previous years and create a good return on investment. At the end of the fixed return period, the rental return rate of most serviced apartments will be revealed. If the situation is good, it can be maintained at around 2%. If it is not good, no one will even care. "

There is a fixed return, but there is no exact number of years, which is the true face of the investment income of serviced apartments. At present, developers usually promise a fixed return for 3 years, and the longer 10 years. For example, Howard Johnson Shuangyuewan Hotel promises a fixed return for 6 years, but there is no clear joint operation plan after 6 years. For this, the sales staff is also vague, just emphasizing that the region has huge future development space, can be recognized by international brands, and is expected to become the second Sanya.

Poor hotel management

Expose risks in advance

An industry insider in Shenzhen said: "In a sense, this type of property is more like a property hotel than a serviced apartment." . Its software and hardware facilities are configured according to hotel standards and managed by professional hotel organizations. In other words, it sells suites in the form of apartments in hotels.

Since 2000, serviced apartments have appeared in Beijing, Shanghai and Shenzhen, and soon spread to the whole country. In addition to providing various services of traditional hotels, it is more important to provide guests with family-style services, such as kitchens and other facilities that are not available in general hotels. Investors can use it for their own use or entrust a hotel property management company to rent it, but its essence is still an apartment. Due to the small area and low total price, this apartment attracted a large number of white-collar workers as soon as it was launched.

The source stressed that although there are many similarities between property-based hotels and serviced apartments, the essential difference is that consumers buy the former not for their own residence, but to entrust the hotel to operate and rent rooms in a unified way, in order to obtain dividends from the hotel management company and the right to stay free for a certain period of time. Its essence is investment profit. Investors in property-based hotels have property ownership and income rights, but almost no right to use them. The owners of serviced apartments have ownership, lease right and use right at the same time.

For investors, the question that must be considered is whether the hotel will become an unfinished building in case of poor management and the fixed income promised by the developer expires. This problem is particularly obvious in economically underdeveloped areas and newly developed tourist areas. In some properties, risks even broke out in advance.

At the end of 2007, Miss Bai bought an apartment in Kaixuan International Hotel, Chen Jiang Sub-district Office, Zhong Kai High-tech Zone, Huizhou, with an area of 62 square meters and a total price of more than 240,000 yuan, with an average price of about 4,000 yuan/square meter. At that time, it was agreed that Triumph International Hotel would return the rent of 10 year, and the rent for the first five years would not be paid to Miss Bai, but would be directly included in the purchase price. Starting from August this year 1, the hotel will refund the rent of 2293 yuan to Miss Bai every month.

At the end of last year, Miss Bai had paid all the house payment and got the real estate license. I didn't expect to receive a notice from the hotel a few days ago, saying that the person in charge of Triumph International Hotel who originally signed the contract had run away because of poor management, so the subsequent contract was invalid and the rent would not be paid again.

It turns out that the developer who signed the contract with Miss Bai is Huizhou Dali Real Estate Development Co., Ltd., but the hotel operator has another person. Due to poor management, the management ran away. Now the owners are left with three choices, one is to terminate the previous contract, the other is to re-sign the contract and return the rent every month according to the standards of 600 yuan, and the third is for the owners to take back the house and dispose of it by themselves.

From 2293 yuan to 600 yuan, the rent was reduced by 1/4, and 200 owners including Miss Bai were not satisfied. Now the two sides are also arguing. The developer said that the person in charge of the hotel company still owed a lot of money after running away, including employees' salaries, and now he is looking for a new company that can take over the hotel operation.

Risk factors:

First, there is a fixed return, but there is no exact deadline;

The second is the inevitable hidden costs, including deed tax, public maintenance fund, vacant period of houses, etc.

(This article was edited and published by Daqing Real Estate Network. If you need to delete, please contact us in time and we will handle it as soon as possible! )

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