The idea of living in a penthouse is becoming more popular, even in places like the UK. These days, there are so many developments in our major cities that it’s becoming a normal part of life.
But why are so many people now obsessed with the idea? What makes the prospect of living in the clouds so special?
Let’s take a look.
The Status Factor
Perhaps the most enduring reason to live in a Penthouse is the status factor. If you can afford one, that usually means you’re already in the highest income bracket.
Penthouses first became a status symbol in the US, where wealthy business people wanted views that elevated them above the rest of the city. These days, the trend is making its way across the pond, and more British people are taking the idea seriously. The number of high-rises in parts of central and east London is growing every year, with Manchester and Leeds dominating the trend elsewhere.
Once you live in a penthouse, you can finally make a statement about your achievements.
Investment Value
Of course, status isn’t the only reason to buy a luxury apartment; so too is the investment value. Many investors see limited penthouse accommodation as properties bound to go up in price since you can only have one (maybe two) at the top of every high-rise (and there just aren’t that many of them).
Many consider penthouses in central locations as prime real estate. There’s almost always someone to rent them out to, and it is one of the rare situations where yields and appreciation can both be high.
When the time eventually comes to sell, many owners look back at their records and see double-digit returns. Seven per cent yields combined with ten per cent appreciation is not uncommon.
Primacy Of Location
As mentioned, the prime location of many penthouses also makes them attractive, especially for business executives and socialites with hectic calendars. Being close to the centre of the action is just so convenient.
Penthouses are in the middle of cities because these locations see the highest demand for land. Developers build taller to accommodate more people close to finance and transport hubs, putting penthouses at the top to attract prestigious tenants.
This means that regardless of which penthouse you buy, you’re always going to be close to the heart of society. Meeting up with colleagues and reaching out to clients is easier.
Better Amenities
Penthouse living is also special because of the improved amenities it offers compared to conventional flats. Many units come with their own pools, fitness centres, spas and concierge services to make life better.
Depending on where people buy, other perks are available. For instance, some buildings include wine cellars in their penthouse suites (an incredible feat, considering the living spaces below). They can also come with libraries for the bookish, and screening rooms for startup founders who like to pitch to prospects in their homes.
Improved Security
Of course, security is top-notch in many of these penthouse complexes. Units are often at the top of buildings with multiple layers of security, including concierge staff on front desks, private elevators, and keycard-activated interior and exterior doors.
Ultimately, setups like these make penthouse living feel quite different from conventional city experiences. Residents often feel cut off from the danger and noise of the city below. Safety is often better than in the best hotels, simply because of the number of systems in place. CCTV runs around the clock, while security staff can intervene within seconds anywhere in the building in the event of an altercation.
Many penthouse dwellers describe the experience of living at the top of a tall building as psychologically similar to being in the suburbs. It feels far away from the busy urban life below.
Refreshing Air
Another perk of penthouse living at the highest altitudes is the fresh air. Tall buildings above, say 150 metres, are often far enough away from the traffic to avoid most of the pollution at ground level. As such, those living in these accommodations often have better overall health for longer.
The reason for this comes from the way winds behave in cities. Gusts travel laterally, not vertically, in most situations, meaning that different layers of air don’t mix a great deal. Because of this, residents of penthouses in cities like London can breathe in air that’s as fresh as places like Danbury or Chichester miles out of town.
Private Outdoor Spaces
Those living in penthouses aren’t confined to the four walls of their apartments. Instead, most constructions offer outdoor space, high in the sky. Rooftop gardens and private terraces are commonplace, giving residents an undisturbed view of the city skyline.
Many residents use these spaces just as a suburban household would use its garden. It’s ideal for dining outside, enjoying fresh air, tending to shrubs, and sunbathing. Because of this, it has a transformative effect on city living. Being in amongst the action no longer means having to tolerate cramped living conditions and minimal access to green space.
Top-End Finishes
Many penthouses also feature top-end finishes from world-famous designers. In fact, developers use these partnerships to sell these properties to the highest bidder, hoping to grab their attention.
Mostly, these luxuries include things like branded appliances and designer bathrooms made from special types of marble. However, it can also include custom cabinetry and premium fittings in some cases, with high technology also playing a role.
The goal of this opulence is to set the penthouse apart from other residential units in a building. It should feel uniquely special for the occupier.
Spacious Living
Finally, penthouse living is special because of the sheer amount of space it offers. Residents don’t have to live in a cramped 30 m2.
Many penthouses in London are more than 200 m2, with some as large as 400 m2. This means that they are actually larger than most suburban mansions, giving you an idea of the scale. This gives them space for the things their owners need, like multiple bedrooms with ensuite bathrooms.
