What are apart-hotels?
Apart-hotels are one of the formats of real estate for permanent residence. This format is widely represented in modern capital’s premium and elite class projects, from renovation projects of historic factories to skyscrapers. Apart-hotels are being built near Kremlin and in the City, in the busy neighborhood of Khamovniki and in rare untouched corners of old Moscow, such as the Basmanny District. Most often, premium apart-hotels are designed using cutting-edge architectural solutions, such as high ceilings, panoramic windows, daylighting, private terraces and fireplaces, etc.
What is the difference between apart-hotels and apartments from legal point of view?
Like apartments, apart-hotel units are meant for living; they can be registered as property, sold, donated, bequeathed, rented or leased. The main difference from the format of apartments is the status of the building: legally, they are commercial real estate. This status does not affect the characteristics of a high-class project in any way: by definition, the developer focuses on discerning buyers. One of the advantages of apart-hotels is their lower cost compared to projects with a similar location and product characteristics. In the high-end segment, this usually means using the most expensive and high-quality solutions. For example, Kazakov Grand Loft belongs to the top of premium segment based on most of its characteristics, although at the start of the project, apart-hotel units can be purchased at business-class prices.
Can apart-hotel units be adjacent to offices or shopping areas in the same building?
In theory, this is possible: such projects exist in Moscow, for example, in Moscow-City. Outside the downtown area, where apart-hotels are rather positioned as a second home, high-end projects are focused on permanent residence. Therefore, their commercial component is represented by the facilities on the ground floors, and they are used by the residents themselves.
How is the title to an apart-hotel unit registered?
In Kazakov Grand Loft, the ownership title of each specific apartment unit is registered, based on cadastral certificate.
What utilities of the apart-hotel building can be used by an apart-hotel unit owner?
The owners of apart-hotel owners can use any facility of the building, as they have the same rights as residents of neighboring apartments. This applies, among other things, to the registration of obligatory medical insurance policy, use of a neighboring clinic, or admitting children to one of the neighboring schools or gymnasiums. The work of emergency services, such as police, ambulance, etc. also does not depend in any way on the status of the building to which they are called.
How are taxes calculated for apart-hotel units owners?
The real estate property tax for apart-hotels is calculated based on the cadastral value, which, as a rule, is much lower for apart-hotel units than for apartments with similar characteristics.
What tax is paid on the sale of an apart-hotel unit? How is it calculated and on what amount is it based?
The tax calculation is the same as for any other real estate: 13% of the difference between the sale price and the purchase price.
What formalities are required to make alterations in apart-hotel units?
Kazakov Grand Loft offers over 100 flexible layout solutions for its units. All of them are designed taking into account possible changes for their owner’s individual needs. “Vertical alterations” are also possible: the height of the ceilings in the units makes it possible to design additional space on the second level. The alteration project must be coordinated with the property management company.