A penthouse is traditionally known as the top-floor unit of a luxury residential building.
Penthouse apartments are the perfect choice for anyone looking for fantastic views, luxury amenities, and the best unit(s) in the complex. Penthouses are at the top of the housing market hierarchy.
When the concept first became popular, developers adhered to the original definition. Now it is also used to define an exclusive flat on other floors, where the building begins to set back enabling wide terraces. The penthouse, known as the exclusive rooftop apartment is more of a “penthouse concept” nowadays, as developers realized the possibility of generating higher profits. A penthouse has become a unit with a different layout from others in the building, broad outdoor space, and great views — but not necessarily on the top floor.
The modern penthouse, whether it’s on the top floor or not, presents an air of sophistication, a sense of exclusivity and luxury. The penthouse demands the highest property value in the building, therefore it needs to justify its price with style and extras such as panoramic terraces and luxury amenities.
Why did penthouse apartments become popular?
They typically offer the very best views in the building, floor to ceiling windows, spaciousness and trend-setting, luxury touches. There’s a certain status that comes with living in penthouse apartments. Investors in penthouses value privacy and uniqueness, seek the best apartment with the best view within a project and are often willing to pay a premium for this exclusivity. The prestige and sense of arrival that comes with being able to live in a penthouse is certainly a factor for the popularity. Who doesn’t feel special when hitting the “P” button of the elevator instead of one of the numbers.
Which buildings have penthouse apartments?
Many buildings and residences are built according to modern architecture. Penthouse-style apartment structures are often to be found in newly build complexes, especially luxury residences and luxury hotels.
What are the features of penthouse apartments?
* High ceilings, floor-to-ceiling windows
* Entry Card systems or finger print entry systems
* Private elevators from the parking lot to the floor of the apartment
* Panoramic views
* Extensive terraces providing lots of private out door space
* Unique (and more expansive) floor plans
* Luxury amenities
How much does a penthouse cost?
The average penthouse is valued at 30-40 % more than other apartments in the same building. The difference in pricing can reach the double compared to other apartments, depending on the location and luxury of the building as well as style and size of the penthouse.
The initial capital investment is quite high in such premium housing options, but the depreciation is almost negligible. In that sense they are a much safer investment than mid-range property options, especially in a weak market.