At the beginning there were serviced apartments. Then the entire grown-up property world was between hotels and housing. And at the end? Nothing seems to be predictable when it comes to a trend topic like this. This is one of the reasons why the “Kompendium des Temporären Wohnens” (compendium of temporary housing) is a most welcome and forward-looking body of knowledge.
Serviced apartments: Temporary housing is in vogue
With their reference book the industry experts Anett Gregorius and Matthias Niemayer offer a first basic overview of the highly complex segment of “temporary housing” with its many different forms and players, only some of whom come from the classical hotel industry. Assisted by more than 30 expert authors they clarify partly outdated concepts and provide orientation in the jungle of what is on the market for serviced apartments, apartment blocks, apartment hotels, student housing, micro-apartments and special real estate like retirement accommodation or holiday apartments. With market analyses, local, planning, management and marketing factors as well as the foundations of building and tax legislation they provide specific perspectives for investors, architects and operators to implement projects. For the next few years the potential of flexible options for housing and convenience in a life and work sphere which has become flexible will stay at dizzyingly high levels. In Germany alone there are currently around 35.400 Serviced Apartments (effective November 2017). Until 2019 Anett Gregorius expects the market to grow by 40%. Renowned hotel consultant Prof. Stephan Gerhard goes one step further as he even speaks of a tripling of the current market share of Serviced Apartments in the hotel industry until 2030: “The sector will reach at least 10%. The market could tolerate up to 90,000 units.”
Potential opening up with professionalization
After the UK Germany is currently one of the most important markets in Europe with expected yields of more than 10 per cent. Over the last few years B and C locations have increasingly been added to the strongest German A locations – Munich, Frankfurt/Main and Berlin. At the same time budget and micro-apartment solutions are conquering growing shares of the market with their concepts. Is this a multi-tier cake of which everyone can get a sufficient share for a long time to come? An invitation for players from close and remote industries? An ambitious niche going mainstream?
Maybe. In any event, it is a prerequisite for the further professionalization of the entire diverse segment of “temporary homes”. In the last few years the publishers Anett Gregorius and Matthias Niemeyer have made a considerable contribution to much-needed professionalization – whether it is by developing a consistent terminology together with various industry players and establishing the service grade as an essential distinguishing feature. Whether it is by bringing potential investors, concept developers, city representatives, architects, hotel and apartment operators as well as target guest groups together at regular conferences. Once again they want to “point the way for the segment” with their compendium. After all the word “temporary” certainly does not refer to any half-life. But to a big issue of our times the greatest time of which might well lie ahead of us.
Anett Gregorius, Matthias Niemeyer (publ.) (2017): Kompendium des Temporären Wohnens. Serviced Apartments, studentisches Wohnen und Mikroapartments, Ferienwohnungen, Wohnen im Alter … Wiesbaden: IZ Immobilien Zeitung Verlagsgesellschaft – Buy at the IZ-Shop