Penthouses are considered one of the world’s most expensive and luxurious properties.
In terms of opulent housing, penthouses stand out, and it is the dream of many to own one and experience living at the apex center of the city.
The word ‘penthouse’ is used to describe a unit that is built on top of an apartment building, condominium, or hotel tower.
Before, penthouses are simply used to describe units built on the rooftop of a building.
But today, penthouses have become a symbol of luxury and exclusivity.
Penthouses in Singapore are characterized by huge floor-to-ceiling windows with a 360-degree view of the city, high ceilings, and luxurious décor.
Singapore penthouses are considered to be the apex of strata housing.
In this article, we’ll break down everything you need to know about Singapore penthouses.
Read to find out more about penthouses in Singapore.
How Are Penthouses in Singapore Different From Condos?
Penthouses often have a higher ceiling and are more lavishly furnished than the other apartments in the building.
If it’s a prefab unit, the fittings, and appliances sold together with the unit are usually top quality.
But of course, by providing better quality, Penthouses in Singapore frequently cost more in comparison to other units in the same development.
Many penthouses in Singapore also include outdoor terraces with panoramic views of the city.
Who are the typical buyers of Penthouses in Singapore?
The property prices in Singapore are by no means cheap due to the limited land supply in the little red dot.
Penthouses in Singapore intrigue many because it seems unrealistic to be living in one, considering the cost.
So who are the typical buyers of Penthouses in Singapore?
Penthouses in Singapore are typically bought by ultra-high net worth (UHNW) individuals, locals, and foreigners alike.
More often than not, they are a group of visionaries, professionals, entrepreneurs, tycoons, and businessmen.
Penthouses appeal to them as a symbol of wealth, social status, and recognition.
But just like any other home buyer, much consideration has to be made before buying, especially understanding its location.
This is so the purchase of the penthouse will make financial sense and will be able to generate more value in the future.
The decision to invest in a penthouse is also directed by intangibles such as privacy, prestige, and exclusivity.
What Is The Estimated Price Of A Penthouse in Singapore?
The prices of penthouses in Singapore vary tremendously based on location.
The average price per square foot for a high-end penthouse located in a prime district might reach $4,900 (PSF).
A middle-class penthouse costs as much as $2,199 per square foot.
On the other hand, less expensive penthouses can go for about $1,600 per square foot.
Why pay high prices for penthouses instead of purchasing landed property?
A distinct difference between Singapore penthouses and landed properties is the unbeatable panoramic view.
Landed properties, while providing exclusivity; the view is mostly trees, roads, and other landed homes.
Penthouses in Singapore exude a sense of exclusivity and boost an unparalleled view of the city skyline being perched at the top.
Some premium penthouses also offer facilities such as private infinity pools and personal lifts, as well as concierge services.
Many describe penthouses in Singapore as having the best of both worlds; the exclusivity of landed property, and the splendid view of strata units.
But is the view the only thing that makes Penthouses in Singapore stand out?
Of course not, the main reason why people are still willing to pay high prices for penthouses in Singapore is because of the ease of purchase.
No restrictions unlike landed properties
Landed properties in Singapore probably have more to offer when it comes down to land size and living space.
However, landed properties in Singapore come with buying restrictions set by the government, especially Good Class Bungalows (GCB).
The purchase of landed properties in Singapore requires the buyers to be Singapore citizens.
And in the event, a foreigner wishes to buy, they have to seek special approval from the Singapore government.
Singapore penthouses are more easily attainable as it does not have such restrictions. In short, foreigners are allowed to buy penthouses.
Why Penthouses In Singapore are So Popular with Foreigners
As mentioned earlier, Penthouses in Singapore are popular with foreigners as they are not allowed to easily own landed properties in Singapore.
The only exception is the 99-year leasehold landed properties in Sentosa.
As a result, foreigners tend to look for other options such as condominiums and penthouses that cater to their style of living.
So what’s so special about penthouses in Singapore? Let’s delve deeper to understand more.
1. The Magnificient View
There’s nothing like waking up to a million-dollar view every morning.
When you live in a penthouse, it feels like you’re on top of the world. This is a big appeal factor for owning a penthouse.
Penthouses in Singapore are located at the top of the tallest buildings and offer the best view of the cityscape.
You will be able to enjoy the city skyline from your window or balcony and have dinner with your friends and family at the same time.
The unblocked view overlooking the city skyline is something not many properties can offer.
2. Security and undisturbed Privacy
Even though penthouses have lots of open spaces and large floor-to-ceiling windows, they offer privacy and security of the highest standard.
Developers of penthouses in Singapore understand the needs of the UHNW individuals.
They make it a point to integrate security and privacy in every aspect of designing the penthouse.
Some examples include; you can only access the penthouse through a personal elevator reserved just for it.
Or there’s a built-in infinity pool on the premises to let you soak in the pool while not having to share the space with others.
3. Scarcity makes Penthouses in Singapore a good investment
Given the limited land already available, penthouses in Singapore are even rarer and harder to come by.
Not every strata development would have penthouses in its planning as it needs to make sense for them.
So while you see new developments being built, it does not mean penthouses are made all the more available.
The scarcity makes penthouses in Singapore highly sought after, and if you’re able to own one; a good investment option. Not to mention the rental yield it provides.
With a prime location and the floor size that it provides, you can be sure the rental will not be cheap.
4. Lifestyle and Design at its core
Lifestyle and design are important criteria for UHNW individuals when considering housing.
Owning a condo unit in a high-rise building is a huge achievement but owning a penthouse is a different thing entirely.
Penthouses offer a living space unmatched by other strata units.
Aside from the living space, the luxurious interior, premium amenities, and beautiful city view are what make the penthouse special.
All of these attributes make up the ideal urban lifestyle that everyone dreams of.
For the owner of Penthouses in Singapore, networking and hosting is part of their lifestyle.
With their work and life being intimately intertwined, penthouses offer a distinct type of luxury living.
Super Penthouse – the cream of the crop
Penthouses are already built to be luxurious, but Super Penthouses take things up a notch.
This term is used to refer to super expensive and luxurious penthouses.
There are only 11 penthouses in the world and six of them are in Singapore. An apartment unit must be erected on top of a 1,000 feet-tall structure and must be at least 10,000 square feet in size to qualify as a super penthouse.
Out of the six super penthouses, only two super penthouses in Singapore are sold for less than $60 million.
It is definitely at the apex of the term “luxury penthouses”.
These exclusive penthouses are also typically furnished with state-of-the-art appliances and finishes.
High loft ceilings, amenities such as a private rooftop pool, private lift access, and concierge services, are just a few luxuries it offers.
It is definitely in the upper spectrum of the term “luxury penthouses”.
To Sum it up
We’ve covered as much as we can regarding all you need to know about penthouses in Singapore.
From what defines a penthouse, the rough cost to own one in Singapore, as well as the key attributes as to why homebuyers will fork out a large sum for one.
Albeit it’s a high price point, living in a penthouse is still the ultimate goal for many people. When there’s demand, there are always developers who will meet the demand with supply.
If owning a penthouse is for you, we hope our guide sheds more light for you to make a more informed decision.
Be it for investment, or buying for own-stay
.A penthouse in Singapore is always and will be the symbol of prestige and luxury.
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