Savills’ UK Serviced Apartment Report 2013, which predicts a “significant expansion in the sector over the next five years”, has been welcomed by the Association of Serviced Apartment Providers (ASAP).
The report also predicts the expansion could potentially triple by 2018 and confirms that in 2013 serviced apartments have evolved as a “recognised sector” in the UK, thanks to the investment in recent years bringing many new developments onto the market resulting in greater product choice for the consumer.
Membership of the ASAP has increased to 57 members across the UK and Ireland representing in excess of 12,000 apartments. Many of ASAP’s members have launched new properties in 2013 and have significant expansion plans for 2014 which, ASAP says, confirms the growing consumer demand for the serviced apartment product and the positive outlook for the sector.
Photo: Citadines Prestige Trlgar Square, London
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