The perks of living in a PHP100M penthouse

IMAGE Dairy Darilag via realliving.com.ph

The luxurious life does come with a hefty price tag.


Penthouses equate to luxury and grand high-rise living.

How many times have you seen these spacious units featured in magazines and on TV shows?


According to Isa Isip-de Jesus, a real estate broker, there are reasons why clients opt to get a penthouse.

“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,” she shares.

With such enticing perks, it comes as no surprise that penthouse units cost quite a fortune.

“The cost of penthouse units in a business district or a city center will depend on the location, size, and furnishings, which is around P27 million to P100 million in the pre-selling or secondary markets,” adds Isa.

The real estate broker notes that those who want to purchase a unit need to take into consideration the monthly condo dues which amounts to P100 to P300 per square meter in a city center.

“Annual real property taxes depend on what business district or city center a property is in so that should also be considered as to the cost of living in a penthouse unit,” she explains.


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 a prime real estate, especially if you’re looking into purchasing a unit in a business district like Makati or Bonifacio Global City.

Since you live on the highest floor, you won’t be able to hear the noise on the lower floors during rush hour.

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“They also get a good view of the skyline or the amenities. Philippine 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.

If you can’t decide if a penthouse unit is a wise investment or not, the real estate broker shares a list of advantages and disadvantages you can look into:


Advantages:

  • You get a large residential space in a good location
  • You can count on privacy and high security
  • Penthouse units have high resale and rent value since these are premium units with good finishes and furnishings
  • You can relish natural light
  • You have enough outdoor space where you can entertain guests
  • Penthouse units are assigned prime parking spots in the residential tower

Disadvantages:

  • There’s a possibility of experiencing hot summers since it’s on the top floor. It’s best to make sure that all AC units are in good condition.
  • Transporting items might pose a problem, especially if you’re moving big items, furniture, and other belongings to and from the unit. Inquire if the service elevator is big enough and if you have access to it.
  • The penthouse unit will be the first to experience the impact of heavy storms in a residential tower.

This story originally appeared on RealLiving.com.ph.

* Minor edits have been made by the PEP.ph editors.


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