The Rise of Aparthotels and Luxury Residences
It started in New York and quickly took hold in major cities around the world with Cape Town being no exception - investing in luxury hotel apartment residences is showing no signs of abating and for a number of very good reasons.
Quite simply, a hotel residence is purchasing an apartment in a hotel, for residence or rental, and enjoying the same services as hotel guests. It is the ultimate lock-up and go, that comes with luxury on-site offerings (in-house gym, restaurants, parking), prime location and top-notch security.
Whether for rental or residence, one particularly attractive rental option is to join a hotel rental pool, which generally offers annual returns of between 6 and 12 percent. This option operates under a reservation system managed by the hotel, ensuring rooms are rotated, allowing for even occupancy for equal distribution of income to investors. This model also allows for personal usage between 30-60 days per year.
This option will, of course, also alleviate the admin often associated with rentals and allow for a well-placed residential apartment when needed.
Cape Town has some attractive options in this space with the recently opened Onyx hotel standing tall amongst them.
The city-based hotel cuts a dashing figure, with its bold black and white exterior and sleek interior finishes exuding a sophisticated charm, as it sits alongside the imposing skyscrapers, and looks down on the buzzing city streets. There is a real energy to the location, with The Onyx offering a luxurious slice of city living with all the amenities - restaurant, bar, pool, gym, spa and secure parking - and none of the drawbacks - traffic? What traffic? Noise? Not a peep once you're inside.
The location is definitely a huge drawcard. The Cape Town Convention Centre (CTICC) is within walking distance, there are a number of world class restaurants and bars close by, while the V&A Waterfront is a five-minute shuttle drive away.
The Agency has a number of apartments listed at the Onyx, which you can see below. It comes highly recommended if you are looking for prime located apartment living in the Mother City.
For more details on the properties listed below and other hotel-residential options in Cape Town, contact Lynn Pinn - lynn.pinn@theagencygroup.co.za or Simony Santos - simony@theagencygroup.co.za
Click on the link below to view our exclusive penthouse listings at The Onyx.
10 Oct 2019
Author The Agency Property Group