The whole concept of ‘penthouse living’ is luxurious. Languishing in designer lavishness high above the busy streets of the city while enjoying uninterrupted panoramic views in a home that is the epitome of indulgence. Penthouse apartments are not just places to live – they are a lifestyle in themselves.
For many, penthouses represent the dream of owning the best of the best – a property that stands out from the rest and sets one apart through its prestige and the sense of arrival that comes with being able to live in a penthouse.
According to Alexa Horne, Managing Director of Dogon Group Properties, some of the penthouse living benefits include unobstructed views, plenty of light, higher ceilings, private lifts, high levels of security, and private outdoor spaces such as rooftop terraces and possibly swimming pools and/or jacuzzis. “Added to this is privacy as penthouses are quieter than other apartments because they are further from the street noise below and never come with upstairs neighbours.”
“In most new developments, the penthouses have been carefully designed with meticulous attention to detail and fitted with only the best state-of-the-art appliances and conveniences – as befits a home that is the ‘cherry on top’. For their money, buyers are guaranteed a designer space that is palatial and polished – a trophy home that is the residential pinnacle of perfection.”
However, the allure of owning penthouse real estate goes further than just the views and opulence. “Penthouses sell for far higher prices than other apartments within the same building, or even in the surrounding area,” advises Horne. “The ‘penthouse premium’, driven by the small volumes of these properties available, is worth the cost because buyers get an apartment that stands out from the crowd and which is rare in its uniqueness – this automatically adds greatly to its value and impacts resale value.”
According to Horne, penthouses frequently top the ‘must have’ lists of affluent downsizers looking for a convenient lock-up-and-leave home. “We are seeing robust demand at the moment for penthouse living and most buyers are paying the asking price, not quibbling over the cost. International buyers are also drawn to penthouse apartments in Cape Town – with all the features that come with a luxury dwelling in an exclusive building – usually in a prime location of the city.”
Some examples of penthouses sold recently (for asking price) include one in Higgovale for R19,995 million; three in the V&A Waterfront – the first for R48 million, the second for R44 million, and the third for R35 million; and another two in Sea Point, one for R13,995 million and another for R15,2 million.
For those considering investing in penthouse living, here are a few examples of penthouses currently on the market in Cape Town:
R40 million will buy you a stunning 340 square metre, three-bedroom duplex penthouse overlooking the V&A Waterfront Marina. The apartment boasts 360-degree views of Table Mountain, the Silo District and the Marina from the wrap-around floor-to-ceiling windows and the three terraces. Other features include a direct access lift, gourmet kitchen and private rooftop pool.
For R36,850 million one can purchase an ultra-modern luxury three-bedroomed corner penthouse in Sea Point in the Station House building – an exciting new mixed-use development that will feature two of Cape Town’s hottest new restaurants, a bakery and juice bar, a Pick n Pay, a huge rooftop sundeck with swimming pool and loungers, a kids entertainment centre, yoga and gym studio and much more – all within a short stroll from the Sea Point Promenade.
Penthouses available within the highly sought-after De Waterkant area include one at the Old Cape Quarter for R25,500 million – a three-bedroom 212 square metre apartment with a huge private terrace and plunge pool. Another in the area, situated in the Metropolis building on Prestwich Street, is on the market for R12 million and is a two-bedroom New York style penthouse with a rooftop terrace and jacuzzi.
A palatial 500 square metre three-bedroomed penthouse in the V&A Waterfront Marina, with a private gym, yoga and meditation room, staff accommodation, and a multitude of terraces – with all rooms enjoying stunning yacht basin and Table Mountain views – is currently on the market for R47,995 million; whilst R25,995 million will secure you a massive 319 square metre three-bedroom modern penthouse in The Barkly building in Ocean View Drive, Sea Point with phenomenal views over the Atlantic ocean.
“Those with the means to invest in a penthouse property cannot go wrong. Whether purchasing as one’s primary home or to include in an investment portfolio, buyers will not only enjoy the lavish lifestyle that comes with living in a penthouse but will also reap the benefits of higher market values and lower volatility,” concludes Horne.
