Penthouse Power: A Surprise That Really Shouldn’t Surprise Anyone
Of all the various kinds of properties, there’s one that you will have dreamed about at least once. The penthouse is synonymous with the rich, famous and powerful. Situated on the upper-most floors of highrise buildings, these are condo-type of properties with multiple floors, excellent luxury in the way of leisure, and incredibly fine decor. By far, this is a type of property that is most popular with billionaires and young wealthy actors and musicians. And why not? You’re not just paying for an entire floor to yourself, but the astonishing view over whatever kind of city you would like. Living and working in the city has never been so relaxing and worth it, than when you can wake up and come home to your own 30th floor penthouse. So, it should be of no surprise to you that a record was broken in one of Seattle’s wealthiest districts. A penthouse in Belltown was sold for a staggering $12 million. If this wasn’t enough, a huge 1000 square meter penthouse in St Kilda was sold for between $30-40 million just recently. Why are all these penthouses being sold for eye-watering amounts?
Srong and stable cities
Seattle has proved itself to be a rival of Los Angeles when it comes to modern cities. Yes, it has a rich culture, tremendous art galleries and plenty of musical talent. However, it’s proven to be a rock steady staple on the west side of America in terms of investment, business, entrepreneurs and tourism. Continuously, while there have been people moving from other large cities Seattle has remained a consistently growing city. The Bay Vista building is a typical high rise building of an older era, specifically the 80s. However it’s been converted over to a penthouse luxury high rise, and now some of the upper most floors allows for 5,700 feet squared penthouses. That is easily larger that the average house on the market for a small family. As you can imagine, the city is making the best of what’s not being used. These older buildings are not seen as demolition projects, but investors see them as opportunities to buy cheap and convert them to contemporary penthouses for wealthy clients.
Being their first
It’s pretty easy to see why penthouses are popular for their exclusivity, their stamp of success and wealth, but there’s another quirk. They are often seen as a sign of a booming country and city. They are part of a somewhat small evolution that many wealthy buyers want to be a part of. It’s not just that you own a penthouse, but you own a penthouse in a famous city where everything is happening. Quite frankly, there an ‘it factor’ to some locations such as Singapore. This city-state is notorious for creating and loving wealth. Check out these various penthouse for sale such as Jadescape. Due to be finished in 2023, the listings just became available in february of this year. The condos go from 838,000 Singapore dollars all the way up to 3.5 million. The upper echelon of properties will have 5 bedrooms, brilliant decor, your own swimming pool, a marvellous terrace view and around 3,000 square feet to play with. Being their first to bag yourself one of these modern condos on the other side of the world, is exciting by itself for many of the buyers.
The first to evolve
Penthouses are designed to be prestigious and offer cutting edge in luxury. They are often the first to evolve when it comes to interior design and decor. The styles that you see in many modern penthouses are equally as impressive as anything you might see in contemporary villa home or in a mansion. Interior design stylists are brought in, along with many experts in materials to design a penthouse to the utmost in modern fashion, luxury, rarity and experimental decor. One example of this is when during the 80s, penthouses were being designed with velvet red chaise lounge chairs which pretty soon became popular everywhere else. In fact one could say that this artistic endeavor was the reason why chaise lounge chairs are so loved in the modern day era. This is one of the best reasons why Penthouses are incredibly expensive and the wealthy are more than happy to pay to own or rent them.
The penthouse in Seattle is just one example of penthouse prestige. It may have been sold for a huge $12 million but all around the world penthouses are being sold for sometimes four or five times that. They are the first to evolve in decor and being the first one to own such a property is reason enough for monumental stacks of cash being moved from bank account to bank account.