Here’s Why Penthouses Are So Expensive

Here’s Why Penthouses Are So Expensive


Penthouses are typically spacious and feature open living areas, gourmet kitchens, and ensuite bathrooms that rival spas. The quality of finishes in a penthouse can make a huge difference in the feel of the space. Penthouses also tend to have large windows, which offer excellent natural light and ventilation. Additionally, penthouses often come with expansive city views. If you want to buy luxury penthouses for sale, you should be aware of the following things.

Penthouses are a symbol of status:

The demand for penthouses increased rapidly in the early 2000s. This prompted architects to devise plans to build multiple levels of penthouses. Until then, wealthy individuals and famous painters were content with first-floor space. Today, penthouses have become an emblem of status and luxury.

Location is a salient factor:

Penthouses are often located in high-rise buildings and offer exclusive amenities. However, these features are subjective to the buyer. The penthouse’s location within the high-rise building is also a salient factor. Many penthouses are located near central city locations, making them convenient for commuting.

They offer more privacy:

Penthouses are located on the top floor of a building, so they offer much more space than other apartments. They are often larger, with many windows and extra bathrooms. This can give them a more private feeling, and their spaciousness can make them more attractive to buyers. Penthouses also often have larger windows and high ceilings, which provide a sense of comfort. Many owners also add custom installations to their units.

They have high ceilings:

Penthouses tend to have high ceilings, making them feel larger than usual. In addition, many penthouses are designed with an open floor plan that allows natural light to flow throughout the entire space. Additionally, many penthouses have expansive views of the city, which enhance the aesthetics and give residents a more personal connection to the city.

They have more window exposure:

Penthouses are often larger than typical condos and are often on the top floor of a building. As a result, they have more window exposure and a higher price tag. As a result, penthouses typically come with higher HOA fees, and owners may need to take care of additional maintenance and repair needs.

They have poor resale value:

Penthouses are more expensive than most other apartments and are typically sold at premium prices. Their prices can be five to twenty percent higher than lower floors. The downside to owning a penthouse apartment is that they often take the brunt of roof leaks, leading to mold growth and damaged ceilings.

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