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How much extra for a "penthouse"

Covering Market, Trends, and Practical (but see LEMON-AID for Building & DIY)
robbelg
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How much extra for a "penthouse"

#503606

Postby robbelg » May 29th, 2022, 1:18 pm

I bought my flat last summer,yesterday I noticed that another flat has just gone on the market at 40% more!

It's EXACLTLY the saame as mine except that its on the top (6th) floor while I'm on the second.

Optimism,Greed or genuine market prices?


Rob

pje16
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Re: How much extra for a "penthouse"

#503618

Postby pje16 » May 29th, 2022, 1:59 pm

A quick google suggest 10-15%
add "flying a kite" to your suggestions
What the ask is and what it sells for can be wildly different

vrdiver
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Re: How much extra for a "penthouse"

#503629

Postby vrdiver » May 29th, 2022, 3:45 pm

Advantages - maybe roof access? Certainly less noise coming from upstairs neighbours ;)

Maybe a better view? Why not go and have a look at it and see if it really is the same (in which case you might be chuffed that yours will be worth more when you sell!) or whether it has anything going for it to account for the difference in asking price.

VRD

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Re: How much extra for a "penthouse"

#503673

Postby Dod101 » May 29th, 2022, 8:57 pm

robbelg wrote:I bought my flat last summer,yesterday I noticed that another flat has just gone on the market at 40% more!

It's EXACLTLY the saame as mine except that its on the top (6th) floor while I'm on the second.

Optimism,Greed or genuine market prices?


Rob


Market price obviously, which might be accompanied by either or both of the other factors.

Dod

AWOL
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Re: How much extra for a "penthouse"

#503697

Postby AWOL » May 30th, 2022, 7:45 am

I am not sure if top shelf magazines still exist :lol:

Lootman
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Re: How much extra for a "penthouse"

#503699

Postby Lootman » May 30th, 2022, 7:59 am

vrdiver wrote:Advantages - maybe roof access? Certainly less noise coming from upstairs neighbours ;)

Maybe a better view? Why not go and have a look at it and see if it really is the same (in which case you might be chuffed that yours will be worth more when you sell!) or whether it has anything going for it to account for the difference in asking price.

Less noise generally, e.g. from passing traffic, sirens, rubbish trucks, drunken revelers.

More natural light because there are fewer surrounding buildings.

Penthouses often have nicer fixtures and fittings, larger windows, skylights etc.

Nobody above you stomping about.

Access may be restricted to residents of that floor and their guests via a dedicated lift.

On the other hand, do you really want to be the richest person in a bad building or, for the same money, the poorest person in a nice building? Isn't there a saying: "Buy the worst house on a good street, rather than the best house on a bad street"?

Gerry557
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Re: How much extra for a "penthouse"

#503704

Postby Gerry557 » May 30th, 2022, 8:45 am

I would also add the newly on the market premium.

This normally falls away after a few weeks, unless sold.

I suspect some estate agents add this either in hope or to get someone to sign up with them. I found it interesting, currently selling a property, that each one asked who else I'd invited and what price they gave.

I had one that just added 20k to the top price estimate and was totally confident that his method would succeed. He was binned before he left the door.

Currently it's a sellers market but for how much longer


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