The high cost of living in Singapore is enough to put off most people, but penthouses still manage popularity among those who can afford them. Why? Penthouse apartments have been viewed by some as only accessible to the wealthy and elite class due to their price tag. In this article, we look at why penthouses in Singapore are still popular despite the high price.
Who Are The Typical Buyers Of Penthouses In Singapore
There’s something about penthouses that always catches our attention. We can’t help but admire their beauty and luxury, especially in Singapore where they’re a rare find as opposed to other countries.
These high-end penthouses are bought by ultra-high net worth (UHNW) foreigners and individuals with extreme wealth across their entire portfolio. They’re ultra-wealthy visionaries professionals or entrepreneurs! Penthouses serve as a symbol of wealth and success. They’re not just for show; they also offer privacy to those who can afford them, which is why most tycoons buy penthouses. This is in addition to other properties that are less costly or even residential units such as apartments!
People who are looking to invest in a penthouse typically consider the property and location, as it will have much greater value. The decision of investing comes with tangible offerings such as privacy or prestige but also intangible ones. – Such as exclusivity that makes them want this type of home ownership more than others do.
Why Do Buyers Pay High Prices For Penthouses Instead Of Purchasing Landed Properties?
The difference between landed properties and penthouse apartments is like night and day. Landed homes often have trees blocking views, pathways, and roadsides while penthouses give you an unmatched perspective of skylines from the rooftops! They offer a level of luxury not seen elsewhere. They provide private pools, lifts to their floors, and 24-hour butler service for those who need it!
The best of both worlds come to life in a penthouse. It has the space and luxury of landed property, plus a splendid view that landed properties do not offer.
Why Luxury Penthouses In Singapore Are So Popular Among Foreigners
The government does not allow foreigners to own landed properties in Singapore unless they have special approval. This is why penthouse apartments are so popular among foreigners. The 99-year leasehold homes in Sentosa are an exception, and foreigners tend to look towards other options such as condominiums or penthouses that cater more to their lifestyle needs.
Sentosa Cove – The only landed property foreigners are allowed to purchase.
Lifestyle & Design At Its Core
While lifestyle and design are important criteria for UHNW individuals when it comes to penthouses, size is something that penthouse buyers always look out for. They want their space big enough so they can indulge in all of the amenities without feeling cramped or overwhelm with belongings like some other properties might offer them instead! The UHNW population is made up of people who have busy lives and they want a home that reflects their lifestyle.
Penthouse buyers are looking for a place where they can live comfortably. They want big spaces that offer right away entertainment and interaction with friends, family members, or business associates given their busy lifestyle choices in life which is why these properties appeal so much to them.
Additionally, realtors who are marketing penthouse units need to have a well-drawn interior space. That could be the final push factor for the homeowner to confirm their purchase.
It is not hard to understand why penthouses are so popular. They offer a lifestyle that no other property can match, with their unique living spaces and incredible views of the city or ocean from every window in your home.
Visit this link and you’ll find the most affordable, and popular penthouse we have in Singapore that you should consider! Don’t miss out!
We hope our article has clarified your doubts about why penthouses in Singapore are still popular. Continue to read about penthouses and other properties on our website as we continue to update and provide more information!
