A condominium, apartment, or penthouse on the top floor of any building gives owners access to the roof space above the same. A penthouse is at once cozy and spacious, enabling elevated lifestyles for its owners. If one’s budget allows it, then an investment in a penthouse can be a good option in order to enjoy suitable space for everyone in the family. However, one should focus on creating positive vibes throughout the property in order to convert a penthouse into an abode of peace, calm, luxury, and tranquility.
National Sales Head, Square Yards, Rahul Purohit, stated that penthouses have been foremost attractions for ultra-HNIs and HNIs in recent times. With increasing income and more millionaires, demand has skyrocketed for luxury homes and lifestyles. People in this segment desire ultra-private and secure homes along with pure luxury. He also stated that the luxury real estate market has already seen positive traction with more buyers attracted to luxury penthouses with luxury amenities, exclusivity, and space, and they are also willing to shell out a premium for the same.
Other experts state that gargantuan space, unique layouts, open areas, and luxe amenities are the defining features of penthouses. They also state that urban housing demand has undergone a massive shift due to the COVID-19 pandemic. Home buyers are now more inclined towards exclusive homes that give them more privacy and exclusive features like private pools, luxury spaces with art, terrace gardens, and more. Penthouses come with several other contemporary amenities such as appliances, automated home systems, security features, private elevators, and sufficient ventilation.
With increasing income, penthouse prices are matching the spending abilities of buyers, and many are even willing to fork out PLC (preferential location charges) in this case. Penthouses are also good investments, since their valuations are always on the upswing, in spite of periodic fluctuations in real estate markets. They carry a certain scarcity value that keeps them in demand amongst luxury real estate owners and buyers. Their unique placement on the top of the building is another big draw, along with the stunning views, more peace, and serenity. Take other exclusive offerings like rooftop gardens, private pools, and terrace pools into account, and one gets the picture. Developers are also focusing on this category with 4-6 BHK luxury penthouses, while tweaking their features and designs to meet evolving needs of buyers in this exclusive segment, after the pandemic.
Published Date: August 22, 2022
