Serviced apartments are a hybrid format of real estate that combines the functionality of a private apartment with the convenience of hotel services. These are fully furnished apartments with kitchens, regular housekeeping, and additional services such as concierge, security, or access to gyms and co-working spaces. They are designed for both short-term rentals and long-term stays, making them a popular choice in global business hubs and tourist destinations.

Contents:

  1. Key Features of Serviced Apartments
  2. Who Uses Serviced Apartments?
  3. Advantages and Disadvantages of Serviced Apartments
  4. Legal and Financial Aspects

Key Features of Serviced Apartments

Let’s cover the main:

  • Flexible rental terms: available from a few days to several months.
  • Regular maintenance: cleaning, linen change, and technical support.
  • Additional services: concierge, 24/7 security, parking, gym, or coworking spaces.
  • Prime locations: mostly in business districts of large cities or major tourist centers.

Unlike traditional apartments, serviced apartments focus on temporary accommodation with added comfort. Compared to hotels, they usually offer more space and kitchen facilities while maintaining a similar level of service.

Who Uses Serviced Apartments?

Serviced apartments cater to several groups:

  • Business travelers — employees on assignments who need convenience and proximity to business districts.
  • Expats — foreign professionals relocating to a new country.
  • Tourists — travelers seeking the comfort of a home with hotel-like services.
  • People in transition — individuals moving houses or renovating their homes.

Advantages and Disadvantages of Serviced Apartments

They are most common in major global cities such as London, Dubai, Singapore, New York, Moscow, and St. Petersburg, where temporary housing is in high demand. In suburban or remote areas, finding serviced apartments is much more difficult.

Advantages

Disadvantages

High comfort level with hotel-like services

Higher cost compared to standard rental apartments

Flexible rental periods

Limited availability outside major cities

Cost-saving for long-term stays compared to hotels

Limited customization of the space

Kitchen and spacious layouts

Often classified as non-residential in some jurisdictions

In many countries, serviced apartments are often classified as non-residential property. This can create challenges for permanent registration or residency permits and usually results in higher utility bills.

  • Lease agreements typically include a deposit and a detailed list of services.
  • Taxation depends on the country’s legal framework and whether the property is managed by a professional company.
  • In premium markets, serviced apartments are often part of aparthotels or luxury residential complexes.