Investment analysis
What to check before buying a spa apartment
A spa location does not guarantee profitability. The outcome depends on the purchase price, financing, demand, competition, operating costs, management rules and private-use restrictions.
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Location and demand
Assess transport links, proximity to parks, sanatoriums, mountains, the coast or thermal facilities, and reasons for guests to visit throughout the year.
- Potential guest profile
- Demand outside peak season
- Nearby competing supply
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Total cost
Do not compare only the price per square metre. Include taxes, notarial costs, fit-out, furnishings, finance, insurance, maintenance and a repair reserve.
- Purchase price and tax treatment
- Monthly owner expenses
- Repair and vacancy reserve
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Rental model
Check who finds guests, sets prices, cleans the property, charges commission, pays marketing costs and manages vacant periods.
- Self-management or operator
- Commission and management agreement
- Conservative income scenario