What is a residential officetel? An officetel is a multi-story building that functions as both a workplace and a residence. In the past, they were primarily used by office workers. Now, they can also serve as a residence for families. The construction industry has been responding to the changes in the Apatel market by increasing its supply. An example of a residential officetel is the Arpe officetel, which is currently for sale in Gyeonggi-do.
An officetel is a space that serves multiple purposes. In some cases, it is a bachelor’s studio, or a pied-à-terre in a city. Generally, the owner will provide an office and a living space to tenants who rent the space. The landlord receives a commission on every transaction and a percentage of the purchase price goes towards maintenance and security. A residential officetel is generally not subject to zoning restrictions.
Reselling restrictions for officetels vary. In 2017, the government tightened restrictions for reselling officetels. However, if there are fewer than 100 households in an officetel, resale restrictions do not apply. Therefore, if you’re buying an officetel for a short term, you can divide it into four or five different complexes. In addition to this, it is also possible to split an officetel into smaller parts.
The legal status of a residential officetel is also dependent on how you register the property. While most officetel owners register their properties as commercial properties, they do not want tenants to report their move-in. Hence, it is important to register a property as a residential officetel. Its acquisition tax is 4.6%. As the acquisition tax is lower than the purchase tax, it will be cheaper for you. Also, it is possible to circumvent secondary dwelling tax.
The construction of the apartment in the Dine Royal Palace in Daegu was delayed due to the lack of commitment. The new house was due for completion last year, but the construction stopped in mid-February, and Mo’s company had to pay 700,000 won per month in interest payments. Meanwhile, Mr. Jeon, the owner of the apartment, became infected with Corona 19, a deadly disease, due to overwork. Eventually, he couldn’t find a new job.
The cost of an Officetel apartment is cheaper than renting a normal apartment. You can get the same level of facilities as a 5-star hotel and enjoy more privacy. Another advantage is that you do not have to worry about sharing the apartment with another tenant. A good residential officetel guarantees you basic legal rights. A representative office can also be located in an officetel. This makes it a good choice for both companies and home-based employees.
The Pangyo Valley Xi officetel is designed to replace apartments. Its design includes three-four bays with a kitchen window. You can also expect free air conditioning and cycline. The Pangyo Valley Xi officetel also plans to enhance the dignity of its tenants. The officetel has many other benefits, including an integrated IT solution, an energy management system, and a smart pass.