What’s The Difference Between a Serviced Apartment & a Condo in Malaysia?
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Towering buildings in the heart of Kuala Lumpur City Center.
When it comes to apartments for rent in Malaysia, there are many options, and it might be difficult to evaluate the advantages of a condominium and a service apartment. However, it is necessary to investigate the differences in depth in order to comprehend why some renters prefer serviced accommodations over condominiums. Is it just because they are more convenient, or is there something special about that well-cared-for, homey atmosphere? Let us investigate further!
What Is A Service Apartment?
A service apartment is basically a development with completely furnished units, regular housekeeping, and convenient neighborhood amenities such as supermarkets.
They are generally more affordable than hotels, especially if you are planning for a longer stay. But if the lodging is near Kuala Lumpur city center or other popular tourist destinations, it will be more expensive than if you rent a place on the outskirts of Selangor.
A service apartment is also commercially titled; thus, the laws and taxes governing this type of property are completely different from those of a condominium.
Differences Between A Condominium And A Service Apartment
Although condominiums and serviced apartments have amenities that are rather similar, there are actually some notable differences between both property types. Here are some key differences:
1. Land status
A condominium is a private residential area with individual units owned by different people.
Serviced flats are built on commercially zoned land and operate more like hotels. They are typically owned by a single individual who owns all of the units in the building.
2. Price point
As serviced apartments sit on commercial land, owners need to fork out higher amounts for costs such as quit rent, electricity, and water charges, as well as monthly maintenance fees.
For example, the minimum water tariff in Malaysia for domestic use in Kuala Lumpur is RM6. For commercial use, this amount is six times higher at RM36!
The minimum electricity tariff in Malaysia for residential use is RM3, while the low-voltage commercial tariff is RM7.20.
Is there a way to convert the commercial utility charges for Serviced Apartments to Residential utility rate?
This is ultimately up to your developer. Developers of serviced apartments may be able to negotiate a reduced price with utility companies on occasion. So, before purchasing a serviced unit, inquire if such an arrangement is conceivable, since it can save you a significant amount of money on monthly utility payments.
3. Environment
Condominiums usually have more units and are better suited for families as they include amenities such as a swimming pool, gym, and badminton court.
Serviced apartments, on the other hand, have fewer units and are usually situated right above, or next to, shopping malls.
Rental Rates For Serviced Apartments
Sleek and modern interior design of a luxurious apartment.
The cost of renting a serviced apartment varies depending to the services and amenities it offers. Depending on the length of your stay, some places may offer you a discount for longer stays.
A fully-furnished apartment unit can cost about RM2,400 per month. Such apartments will come with the basic necessities.
On the other end of the scale are the luxury serviced apartments. These are high-end, and more extravagantly furnished. Such serviced apartments usually cost at least RM10,000 a month.
Is it worth renting a serviced apartment in Malaysia?
It all comes down to your preferred way of life, your hobbies, and what is important to you. Is a prime location essential? Is it necessary to have easy access to retail and commercial conveniences?
If you responded yes to the preceding questions, then serviced apartments are for you.
Is it worth renting a condominium in Malaysia?
If you are seeking a condominium to rent, there are several factors to look into, such as the location and facilities within the condominium. For example, if you love city life, you may prefer a high-rise unit closer to the heart of the city. But if you prefer a quieter lifestyle, you will want to choose a place outside of the city.
