August 17, 2021
For most people, life in a big city is full of flaws. Noise, traffic jams, dull views, and the pervasive limited space make everyday life grey and moody. It is especially difficult to live in old apartment buildings with their small apartments, narrow entrances and views of the nearby houses from the windows.
All these and other factors increase the feeling of crampedness and discomfort in the metropolitan residents. The penthouse is a solution for those who value the feeling of freedom and privacy, comfort and magnificent views from the windows, and also have enough money to afford it all. What are the pros and cons of buying a penthouse? Let's figure it out in this article.
What a penthouse is
Penthouse is an elite apartment, most often two-level and with an open terrace, located on the top floor of a residential building. Nevertheless, initially the word "penthouse" had a completely different meaning. The history of this type of housing is quite interesting and perfectly shows how people's way of thinking, and, consequently, trends in architecture, have changed over the centuries. The term "penthouse", which today is associated with a luxurious large apartment just under the roof, used to have a different meaning. In architecture, a penthouse is a structure on the top floor of a building that houses the engine room, elevators, heating and cooling control systems.
Until the middle of the 19th century, penthouses were the least attractive apartments in multifamily housings. The dwelling on the ground floor was considered the most prestigious. What made these unattractive apartments the standard of luxury and style? The elevator became the catalyst for the change. “The higher, the poorer” location principle used to be the result of practical considerations. Taller buildings meant longer stair climbing and therefore more physical activity. The upper floors were occupied, for example, by the attendants, the homeworkers and the cook-housekeepers. As for the executive floors and basements, they were of an elite character.
In Europe, the potential of the upper floors of apartment buildings has long remained untapped. However, in American cities, they were used for communal purposes already in the 1920s. It was there that a real boom in the popularity of penthouses took place, when traction sheave elevators began to be installed in residential apartment buildings, similar to those that can be found in every high-rise building today. This innovation completely changed the traditional layout of apartment buildings – the lower floors were no longer of paramount importance, since even the top floor of a skyscraper could now be easily reached. As the height at which people worked and lived increased, new needs and opportunities began to arise. The lower floors were less illuminated, and since there were no problems with access to the upper part of the building, the observation qualities of the upper floors began to be appreciated. Life at the height began to acquire a new quality, because not everyone could see the magnificent panorama of the city. Moreover, the fact that the upper floors towered over the bustle of the streets provided a rare opportunity to relax in peace and quiet on your own terrace.
After several decades of transformations, today the penthouse is a luxury apartment, often located on the two top floors of a building, necessarily with a large terrace or roof garden. The penthouse can be safely called a country mansion on top of a skyscraper in a city centre. Several-storeyed, with a large area, with a garden terrace, with no disadvantages for living in the suburbs. You don't have to travel miles to get to schools, hospitals or shops. In this respect, the penthouse makes life very comfortable. Although, this solution has its drawbacks.
What the difference between a penthouse and a townhouse is
A townhouse is an apartment in a small suburban housing format. It is usually located in a complex of low-rise buildings with separate entrances and small lawns in front of them. Each townhouse has a side wall that is combined with an adjacent one, but each has a separate garage and parking space on the street. One might as well say that a townhouse is the complete opposite of a penthouse, which is located on the top floors of an apartment building.
Pros and cons of buying a penthous
Privacy, spaciousness, high ceilings and all-round view from the windows – these are the typical advantages of penthouses that distinguish them from ordinary apartments. However, they have other advantages:
- the price is lower than that of an equivalent apartment – this applies to penthouse apartments, which can be 15-25% cheaper than apartments of the same size and class;
- the possibility of any redevelopment – it is allowed to make any changes to the layout of housing, taking into account compliance with safety requirements;
- recession proof investments – unlike Western Europe and the United States, where penthouses are available in large quantities, Ukrainian developers still offer such housing with caution, which means that with a limited supply, the cost of penthouses will keep growing faster than the cost of apartments.
Wealthy people and professional investors are interested in investing money in such real estate, because it does not quite belong to the category of standard housing, which means it is less prone to fluctuations in the real estate market.
Such elite housing has its own drawbacks:
- high cost - despite the fact that a penthouse may cost less than an apartment of the same size, this does not reduce its price, which in Kyiv ranges from UAH 3 to 12 million;
- high maintenance costs – a large area requires costs on average 2-3 times higher than for an apartment of 100 sq. m.
A penthouse these days is not so much prestige as a guarantee of a truly comfortable life in the center of Kyiv.
Where to buy a penthouse in Kyiv
Despite the construction boom in the capital, the suggestion of penthouses remains quite modest, especially in the central districts of the city. One of the exceptions is Lvivska Ploshcha residential complex from RIEL Real Estate Corporation. The business-class residential complex is located near Sichovykh Striltsiv Street within walking distance from Podil – the historical centre of Kyiv. The panoramic windows of the penthouses of Lvivska Ploshcha RC offer a delightful view of Podil slopes and the city, while the complex is located at a distance from busy highways and railway lines, so the noise will not bother you. Near the complex, there are shops, supermarkets, beauty salons, car repair services, as well as “Leleka” preschool centre, a kindergarten, general education and specialized schools. The territory of the complex is closed from outsiders and is under round-the-clock security and video surveillance. An underground parking is provided for the residents, and there is a modern sports ground, recreation and entertainment areas in the courtyard.
Contact our specialists at the indicated phone numbers or through the feedback form, and they will tell you more about penthouses in Lvivska Ploshcha RC, help you to choose a suitable option, and then to draw up the necessary documents and settle all the formalities.
