What does it feel like to privately gaze out at a magnificent view of bright city lights from a high up terrace, have a drink in your hand and coolness tingling over your skin, and breathe in the freshest of air, which smells like it was purified by the gods themselves?
You would know if you lived in a penthouse.
Penthouse suites are the apartments situated on the uppermost floor of apartment buildings. Unlike the rest of the apartments in the complex, a penthouse is bigger and more luxurious, and can be seen as standalone houses situated right at the top of a high-rise structure. It is seen as a “separate” entity from the rest of the building; it has a private entry point, personalized services, a large terrace that cannot be frequented by other inhabitants of the apartment, and it may possess two or more levels. Its amenities may include bedrooms, a dining room, a formal living area, a tea room/lounge/study space, a kitchen, a veranda, a walk-in closet in master bedroom, a Jacuzzi, a pool, a gym, and a servant’s bedroom and toilet. Penthouses are the best variations of residential apartments, and are usually high priced.
The greatest appeal of a penthouse apartment is the fact that it is statement of luxury. Penthouse living is seen as a status symbol is purchased more for its emotional benefit of prestige, luxury, seclusion, modernity, and comfort, rather than the mere functional benefit of accommodation. Factors that influence this lavish image most are the newness of the suite or previous celebrity associations with the unit, and the location of the building, amongst many others. Life in a penthouse comes with a panoramic view of the city’s landscape, privacy that assures you tranquility, and of course, the opportunity to throw extravagant parties and show off your abode (if that is your preference). With the growth of the luxury market in Africa, more people are moving towards accommodation that gives off the image of affluence and class, and penthouses are well suited to this swish lifestyle.
The previously mentioned points, however, are for the penthouse end user.
As an investor, a penthouse is a great opportunity in the real estate world. Their limited nature, first of all, gives them great worth and makes them highly sought after by the wealthy class. Owning a penthouse apartment suite in order to rent it out, is a great business opportunity for real estate investors; the yields will be substantial. The investor can also purchase a penthouse to resell at a later date.
Penthouses, especially if previously lived in, are usually known to resell at a discount (7 – 10% lower) on the real estate market, mainly because their newness is part of the appeal. This view, however, is subjective. A penthouse that has been inhabited by a celebrity may sell at a higher price than the original due to this celebrity association. It is no wonder that investors and owners of luxury penthouses are picky about who the sell or rent out to. Only the crème de la crème are afforded the opportunity to live in one. Investors however can gain a leverage and resell their penthouses for the original price or more, by investing in a penthouse situated in a location known to be up and coming in terms of modern luxury lifestyle. Another way to increase value and sell your penthouse at a premium is to invest in quality facility management throughout the lifespan of your property. In light of this, Devtraco Plus has strategically situated the Niiyo penthouse in the city haven, Dzorwulu, and a purchase of the penthouse comes with diligent facility management services to keep your property’s quality top notch and retain the appeal of its newness.
Some people find penthouses exhausting because they are so far up, or lonely because of seclusion. Clearly, this shows that a penthouse is not meant for people who are constantly rushing about and/or looking for cacophony. A penthouse is a perfect place for one in need of solace, tranquility, and private time, all in a luxurious manner. If that is the life you are looking to have, a penthouse apartment is perfect for you.
Take a look at our Niiyo luxury penthouse for more!