What Does Penthouse Mean?
A penthouse is “a structure or dwelling on the roof or top floor of a building”.
While the concept first became popular, builders accompanied the term’s original definition. Going ahead, the period turned into extensively utilized to outline a specific flat on other floors, as builders realized the possibility of producing higher earnings with the penthouse concept.
The concept first won popularity in essential worldwide business districts, where privateers and space increasingly have become tough to discover amid the growing populace. Sensing the call for, builders began building penthouses on the pinnacle floor of rental homes and charged a top class for such units.
More recently, developers use the period penthouse even more freedom to outline distinctive gadgets in housing initiatives that have extra opulent capabilities than the ultimate units, because of their locational benefit and amenities.
It will also be correct to say that there is a sub-market within the luxury housing market that could be categorized as the penthouse market. Investors in this category, who crave privacy and value uniqueness, seek the best apartment within a grand project and are often willing to shell out a premium, to secure such a fancy unit.
The demand and supply of penthouses in Malaysian real estate have witnessed a spike, in the past decade, amid a tremendous rise in the number of rich individuals. Their increasing popularity in Malaysia’s luxury segment notwithstanding, a lot of confusion still exists among buyers when it comes to the exact meaning of a penthouse. What are penthouses and how are they different from regular apartments in the same building?
As penthouses are marketed to the wealthy and opulent, the marketing pitch generally focuses on the best-in-class amenities and facilities available – fancy indoor fittings, high-tech command devises, and aesthetically pleasing overalls. However, since it all boils down to space in real estate, all efforts are made, to not only provide a large unit but also a unit that looks opulent. This is why a penthouse would have an open terrace exclusive to the owner. Unlike a regular unit, the ceiling in a penthouse is also much higher in a penthouse. More importantly, a penthouse has a different layout plan that provides its exclusive reach to amenities like the gymnasium, swimming pools, etc., with the help of private elevators.
What is a penthouse apartment?
Penthouse apartments are luxury units that are on the top floor of an apartment building. They typically offer the very best views in the building, vaulted ceilings, and floor-to-ceiling windows. All of those perks and amenities also come with the most expensive apartment in the complex.
Why penthouse apartments are more attractive than regular apartments?
1) Luxurious layouts, furnishings, and facilities
There are the reasons why penthouse apartments are preferred. This is because of the beautiful luxurious layouts, frames, furnishings, and mind-blowing facilities.
The people who live in penthouse apartments have well-living styles. They live their lives beautifully.
Due to location
Penthouse apartments are mostly located in the Centre of urban areas, or cities, that’s why people choose to live in penthouse apartments other than the regular apartments.
Benefits of Penthouse Apartments
Privacy, terrace space, and high ceilings are the typical features of penthouses that differentiate them from regular homes.
Unobstructed View
Penthouses generally provide ample natural light and ventilation and an unobstructed view of the surroundings. These are things that not many may be able to afford in a big city. These units offer more peace, because of the placement of units.
Exclusivity
In Malaysia, the ownership of a penthouse would be viewed with admiration among your peers. The owner of a penthouse often enjoys a variety of services that others in the same building do not get.
Recession-proof Investment
Unlike in western countries, where penthouses are available in large numbers, developers in Malaysia have been careful, in launching projects with penthouses. In the presence of limited supply, the values of penthouses continue to grow. As long as the supply is lower than the total demand, there is no reason to be worried about value depreciation.
What Are The Problems With Penthouses?
The availability of large space also means a higher requirement for its maintenance, every month. Penthouses are also more exposed to heat and air, as compared to other units in the building. Hence, in a hot city, the interiors of the unit could become quite hot. In cities that have a lot of rainfall, seepage could be common.
Almost always, housing units on the top floors have comparatively the most poor resale value. Their positioning on a higher floor, thus, impacts the resale value of penthouses, too. Owing to the high price, such a unit would also have a smaller number of takers, if the owners decided to put the property on rent. At least in Malaysia, where the demand for apartments and flats is high in the rental segment, the rental yield generated from a penthouse would be much below your expectations.
Are Penthouses Expensive?
It’s safe to say that penthouses equate to luxury and grand high-rise living. How many times have you seen these spacious units featured in magazines, TV shows, and movies? Christian Grey’s famous apartment is a good example—with its lavish common areas, incomparable view of the skyline, and a private elevator, to boot. There are reasons why clients opt to get a penthouse. The reasons include having a large living space without incurring costs while maintaining a house, privacy, and security of the units and common areas because there is usually just one or two units on a penthouse floor, and a decent outdoor area with less maintenance than a lawn or garden in a house.
The price tag of penthouse units doesn’t just cover the huge space you have and the exclusivity you’ll enjoy. A penthouse is expensive because you’re paying for prime real estate. Since you live on the highest floor, you won’t be able to hear the noise on the lower floors during rush hour. “They also get a good view of the skyline or the amenities. Developers are moving toward ‘greener’ residential towers so greenery also adds a touch of home and pocket gardens are usually placed at the penthouse level,” Isa adds.
Why Are Penthouses Called Penthouses?
The name penthouse is derived from apentis, an Old French word meaning “attached building” or “appendage”. The modern spelling is influenced by a 16th-century folk etymology that combines the Middle French word for “slope” (pente) with the English noun house.
Modern penthouses may or may not have terraces. Upper floor space may be divided among several apartments, or a single apartment may occupy an entire floor. Penthouses often have private access where access to any roof, terrace, and adjacent setback is exclusively controlled.
Are Penthouses Safe?
Do you have trouble sleeping at night? Are you afraid that something is lurking in the dark? Well, fear not. Generally, penthouses are very safe and secure as they are located on the top floor which eradicates the possibility of anyone breaking into your home and whatnot! As it only has a one-way-in and one-way-out, even with limited security measures one can feel safe and secure – unless someone parachutes in.
Status Symbol
Penthouses are always more expensive than regular apartments, therefore, it’s considered a symbol of wealth. However, there is more to this than what meets the eye. These penthouses often offer large and spacious rooms with various off-the-shelf and tailor-made facilities that add additional creature comforts to facilitate residents.
Recession-proof investment
As Malaysia has been facing a housing shortage, penthouses are also not available in large numbers. That said, it’s a new concept in the country that’s quickly gaining ground and popularity. As long as the demand is higher than the supply, there isn’t much need to worry about depreciating value.
Cons Of Living In A Penthouse
Now that you have been enlightened with some of the major advantages of living in a penthouse, here are some disadvantages that may sometimes overshadow your expensive, exquisite and luxurious lifestyle choice.
No weather shielding
Among the list of pros and cons of living in a penthouse, one of the major disadvantages of living in a penthouse is that this property type has big and open spaces highlighting magnificence and usually bigger windows for plentiful inflow of natural light. These may become a nuisance during extreme weather conditions, as these designs and unobstructed views offer minimum protection against the scorching summer heats or the bone-chilling winter winds.
It is a long way up!
One of the pros of living in a penthouse suite is that an elevator is not taken as a luxury but as a prerequisite to the exquisite lifestyle. It would essentially open into your living room, but what to do when it is not functioning? Not all high-rise buildings have efficient or always functioning elevators installed. So, when all else fails and you end up taking the stairs, living high-up would not seem so nice, especially if you’re carrying something that restricts your mobility.
Rooftop amenities
This factor has both the pros and cons of living in penthouses, as several properties have a commercial rooftop place. What if a gym, a cinema, or a restaurant opened right above your penthouse? You can’t object to that. You’ll probably have to live with it and all the footfall it generates right over your roof. Imagine a loud birthday party taking place right over your roof as you try to sleep in your luxurious penthouse.
The expensive and lavish lifestyle
The cost of owning or even renting a penthouse suite is way more than what you’d end up paying if going for an ordinary apartment. Penthouses are an expensive real estate investment. However, you pay more to get a taste of luxury. Yes, ordinary apartments are cheaper to rent and own than the property in question, but you cannot put a price on luxury and grandeur.
Hosting visitors and guests
Penthouse dwellers are almost always isolated from the rest of the building – feelings can be subjective to the list of pros and cons of living in a penthouse. While living on the top floor, in ultimate luxury, no one stops to check up on the people living below them. Apart from that, running errands also poses a huge problem.
Lifestyle
If an unannounced visitor drops by (be it friends, colleagues, or anyone), hosting them unprepared becomes a huge issue as you can’t just run down to the shops to get something on an urgent basis – the same goes for when you’d fancy drinking or eating something late at night and you end up having a conversation with yourself that ‘is it worth the effort?’ These lifestyle questions clearly show the additional efforts one would have to put in for everyday things.
Safety Hazards
Safety is one of the key things under consideration when moving into a penthouse. Electricity and fire hazards are usually common in these vertical towers. Make sure that the penthouse you are planning to move to has adequate emergency exits and has properly maintained fire extinguishing systems. Regardless of the pros and cons of living in a penthouse, ensure the provision of timely evacuation procedures and mock drills – in case of natural calamities – to prepare the escape from natural disasters.
Suitable for you or not?
Now you know the major pros and cons of living in a penthouse apartment. If such a lifestyle is well suited for your needs, consider your options wisely and explore the suite’s design and floor plan before making a decision. You can check the detailed information on penthouse apartments here. If you are making mind living and staying in a penthouse apartment, you can take info from this website. Check information about the penthouse apartments whenever you feel that you need them.
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