A Penrose condo is an attractive investment because it can provide a sizeable return. How do you invest in a condo to produce the expected benefits? Each unit has a kitchen, sitting room, or room depending on the available type. Each condo can offer a different type. In a condo, facilities are usually provided such as swimming pools, spas, restaurants, meeting rooms, and other facilities such as those provided by star hotels, all aimed at the convenience of the owner of the unit.
Buying a Penrose condo is one way to invest in real estate. The investment benefits offered through this condo include obtaining operational results. The use of a condo that is operated by renting it out will generate operational income. This income is then distributed to investors. The amount of income provided is around 8% -12% per year of the purchase price. When compared, this figure is greater than the deposit rate. This is different from where you will not get income if no one rents your unit. Besides, condo management is usually carried out by those who are used to working in the hospitality world so they have experience in managing it.
As an investor of a unit in Penrose, you can get a stay at this condo if you want to stay before you rent it so you can also feel the facilities and comfort provided by the condo. The biggest advance in a condominium investment is increasing unit prices. One of the highlights of real estate investment is the price that will continue to increase following an increase in inflation. Likewise, with buying a condo, the price of the unit you buy can continue to increase so that it will produce its benefits. Price increases can reach 20% per year. Besides, your ownership of the condo can be used as collateral to the bank if you need a loan from the bank.