Engel & Völkers Licence Partner Gent-Zuid • Sint-Martens-Latem > Blog > The penthouse, an original concept

The penthouse, an original concept

The concept of the penthouse first appeared in the 1920s, also known as the 'Roaring Twenties'. These apartments, which occupy the surface of the top floor of a housing construction, were very popular in New York until the time of the stock market crash of 1929. They then became scarce, particularly during the Second World War. The 1950s saw a boom in building and, at the same time, luxurious penthouses were built. Even today these sumptuous apartments are in great demand, especially in the centre of major cities.

The penthouse, an original apartment

In addition to its top floor location and its surface area, a penthouse has the advantage of offering luxurious services. Indeed, unlike most apartments that we usually visit, penthouses have the distinction of being very expensive. This is because they offer a wonderful and dreamlike infrastructure, such as a terrace with a breathtaking view of the city and its surroundings. A swimming pool or a mini-golf course are sometimes installed in the property. This means that if one wishes to invest in one of these magnificent apartments, it will cost in the region of one to several million euros.

So, if you want to settle in a sumptuous and luxurious residence, rather than considering villas, country houses or even a castle, why not opt for a penthouse? You will be able to enjoy living in luxury while enjoying many other benefits. The tranquillity and proximity to the attractions of a city centre will be brought together to offer you a dream life and you will also be able to enjoy a secluded outside space out while remaining close to the best that urban life has to offer.

The attractions of a penthouse

The first advantage of living at the top of a residential building is to avoid the noise and bustle of the city centre while taking advantage of its infrastructures, such as shops, schools, public transport, restaurants and cultural attractions. On the other hand, you won't be disturbed by the noise of your neighbours above or living next door to you, and the noise from the corridors of the building will not bother you. The reality of occupying a whole floor will leave you unscathed by sometimes annoying promiscuity with noisy neighbours, but you will have the opportunity to benefit from a very rich external social life.

Is a penthouse a good investment?

The acquisition of a penthouse is not within the reach of all budgets, luxury has a price. Generally, when you invest in this type of housing it is to occupy it yourself and enjoy all the advantages that such sumptuous accommodation offers. It would not be wise to buy a penthouse as a buy-to-let. The rental price would be so high that you would be hard-pressed to find someone interested in your property. On the other hand, it should be remembered that this type of housing loses its value over the years due to wear and tear. Conversely, if you wish to put your penthouse up for sale, you will have no difficulty in finding a buyer. Indeed, these dwellings are among the most prestigious properties and therefore, the most sought after. Everyone dreams of one day being able to rise in society and a penthouse is a stunning metaphor for this expression.

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