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Is the Penthouse Dream Slowly Dying Down?

August 20, 2020
Is The Penthouse Dream Slowly Dying Down

An article from the New York Post in 2019 stated that buyers of real estate today tend to sway away from Penthouses. For the reason that it is too costly and too high from the ground that you don’t get to experience having a terrace garden because “it is too windy”.  But there are also good traits and advantages of buying penthouses these days, especially in the Philippines where the climate is ideal, privacy and exclusivity feature at its best and there is the popularity of low-rise luxury condominiums. Truly, the Penthouse dream in the Philippines is still, up to this day, a dream sought by many. Let’s go through why Penthouse properties in the Philippines should be on the list of every investor.

Social Status

Russ Ward Inmwdb0800 Unsplash

Owning a penthouse means owning the best of the best. Some might have a private elevator that opens right inside their home. It might also mean clicking that “PH” button on the elevator, and that your home is not just a number. But most of all, owning a penthouse unit is a social status. It means that you own the rare unit among all “regular” ones.

Privacy

Lead Bellagio View Bgc Skyline (with Watermark)

Unlike rooms below, owning a Penthouse unit means not being able to hear children running around from the unit above you or the blaring noises that cars may emit from the surrounding roads of the building since Penthouses usually live at the top. To some, it might also mean being alone on one floor. For these reasons, privacy is much appreciated for those who prefer to live in a Penthouse.

Exclusivity

Lead Bellagio Balcony 2 (with Watermark)

They say it’s lonely at the top. And because most penthouses are placed at the top, people would say that being too detached from the ground below might make a person feel lonely. While this might be psychologically true for some, it will all depend on a person’s mentality. If the 360 degrees view of the city skyline outweighs the needs of being near the people below, then being too detached won’t be so much of a bother. Besides, the privacy and exclusivity it gives you is such a rewarding investment.

Valuable Luxury

Viacheslav Bublyk 6wxbpwht8c8 Unsplash

Generally, the rate of a Penthouse per square meter costs a little higher than that of the other rooms. That is why they are not merely real estates, it is a rare luxury. And of all the other rooms sold per development, there is only about one Penthouse built. With this rarity, comes the heightened prices. Hence, owning a Penthouse is also a great investment like any other real estate since it increases in value as time passes.

So, is the Penthouse Dream Slowly Dying Down? Well, definitely not. The new generation of working-class today, the millennial generation, are exposed to all kinds of options–thanks to the internet. Thus, they are not stuck with one dream and one perspective–the “ideal” living of owning a penthouse like what people see in movies before. In relation to this, the Penthouse dream is still ideal for many.

Some people chose to trade their detached homes for Penthouse living. They prefer living in a co-owned space because of the ease of doing so. Living in a Penthouse won’t require you to do the same maintenance as in houses. When the water is not working, it’s just a call away. Also, your building is located near everything. Coffee shops might just be right beside your home and the store could be just around the corner. And lastly, the remarkable view of the skies above as you go home every day is a dream-like reality.

Want a list of dreamy Penthouses in the Metro? Call us or Email our TEAM today!

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