Officetel – A multi-purpose apartment
An officetel is the combination of an office and a hotel. According to recent regulation, enterprises are not allowed to use an apartment in a residential building as an office or a registered address in business registration form. That is the reason why officetel is released as it could be used for living and working purposes legally. A multifunctional apartment as officetel is the best choice in order to adapt to modern Western life style for entrepreneurs and foreigners living and working in Vietnam. With a ‘2 in 1’ apartment as officetel, they would not have to buy an apartment to live and rent an office separately
Officetel, which could be used for both living and working purposes, is a good way to reduce investment costs and tax expenses including VAT and business income tax for small and medium-sized enterprises. Moreover, service charges for officetel are much cheaper than in comparison with traditional office.
Setting an office in living place helps save time and work-related travel expenses, which is worth considering when living in crowed city with limited public transport systems as Hanoi. Statistics show that in Hanoi, it takes an average of 45-60 minutes to travel between home and work, which is accounted for 12% of daily working time. This issue could be solved efficiently thanks to officetel.
Increasing profits from renting
According to real estate broker, thanks to the competitive price, officetel for rent draws the attention of many real estate investors in Hanoi. More notably, the wide range of tenants including foreigners, enterprises, families and so on is a remarkable feature of officetel that attracts many investors.
As in EcoLife Capitol project (To Huu street, Trung Van ward, Nam Tu Liem district, Hanoi), the owner only pays VND700 million upfront to own a 50 square meter officetel, costing about 1.4 billion VND, which could be used for rent at the price of 10 to 12 million VND per month. The annual profit for this investment could be up to 120 to 144 million VND which provides much higher interest rate than in comparison with savings deposit.
Officetel EcoLife Capitol can be used for legal office purpose and living
Capital House, the owner of EcoLife Capitol project, with large real estate agency network, also helps investors find tenants for their officetel quickly and effectively. Besides, this one-time investment could be optimized for 50 years that ensures the long-term profits for officetel investors.
Modern and synchronized utilities
In EcoLife Capitol project, there are a large number of utilities in and surrounding the project that would meet the high demand of officers and apartments’ owners, which are Vietin bank’s branch, Mon Hue restaurant, Kichi Kichi restaurant, Ha Thanh restaurant, Highland café, Fresh Garden bakery, Fitness Town, 4 season swimming pool, sky bar, play ground and so on.
According to Capital House, in EcoLife Capitol project, the prices of apartments fluctuate around 32 million VND per meter square while the prices of officetel are in the average of 25.6 million VND per m2. “Although the quality of officetel is equal to that of other apartments in project, the prices of officetel are much reasonable because of the 50-year home ownership”, Capital House’s representative explained.