Difference among Condo, Serviced apartment and Studio

There are several types of apartments in the HCMC real estate market that you should be aware of . In order not to be confused by agencies, we will explore the differences between price, size, deposit and term of the contract. On this tip – i will explain you difference among condo apartment, Serviced apartment and Serviced Studio.

How are they?

Condo Apartments: This is huge building consists of many apartments (around 100-1000 apartments). Each apartment belongs to one owner.

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Serviced Apartments: This is one big house/building consisting of some apartments (around 4 – 20 apartments). All of these apartments belong to one owner. Each apartment has  a separate kitchen, and a bedroom/living room. Normally size start from 50m2.

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Serviced Studios: This is a small version of serviced apartment, the size is around 25 – 40m2.  These apartments have all facilities located within 1 large room; a mini kitchen, bed, and living areas are situated in the same place.  The bathroom is the only room which is annexed.  Although somewhat small, these apartments are cosy, and cheaper in price compared to serviced apartments. Serviced and studio apartments are  very popular, especially in crowded districts such as D1 or D3.  This is due to the high cost of land very which result in high rents for larger sized apartments.

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How about the facilities?

Condo apartments: These often INCLUDE facilities such as a swimming pool, a gym, a kids play area, convenience stores, and a garden.  A management fee is often incurred when living in condos.

Serviced Apartments and serviced studios: These often EXCLUDE facilities such as a swimming pool, a gym, a play area, convenience stores, and a garden…Some big Serviced apartments will provide a pool or gym, but the price will be very high.  An advantage however, is that you do not need to pay a management fee when staying here.

How long is the contract?

Condo Apartments: The lease term is at least 1 year and deposit at least 2 months.

Serviced Apartments and studios: you can rent for short term or long term, it is up to you. However, a minimum contract of 3 months is the norm with a deposit of only 1 month. Some owners do ask for 2 months – they usually don’t know about the market. Please get rid of these owners.

By looking at this chart. You will better understand the differences among the 3 types of apartments. We hope you will choose the best option for yourself

By looking at this chart. You will better understand the differences among 3 types of apartments. We hope you will choose the best option for yourself 

No. Term Condo Apartment Serviced Apartment Serviced Studio
1 Ownership 1 Apartment is belong to one owner Many apartments are belong to one owner
2 The duration of contract At least 1 year At least 3 months
3 Deposit 2 months 1 month
4 Size From 60m2. Separate bedroom, living room, kitchen, toilet. From 40m2. Separate bedroom and kitchen

From 25m2.

NOT separate bedroom and kitchen

5 Bedroom 1,2,3,4,5 1,2. Sometime 3  only 1
6 Bill and service

The rent NOT Including to any fees. So you need to pay extra for: management fee, water, internet, electricity, parking, TV…And for people who need red invoice – sometime it is impossible to get from owner.

 

 

Including to some service such as: water, internet wifi, parking,,, somewhere will including to electricity. So the rent almost cover all fee for you. You can get tax invoice in some places.

 

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