What is the value in having a penthouse floor apartment ?

J

Joey111

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Hi all,

Any advise or opinion greatly appreciated.

I'm looking to quantify what the value is in having an apartment on the top floor.

I have an apartment on the top floor of an apartment block (there are several other apartments on this floor also). The builder is now going to build one more floor of apartments above us. The balcony of a new apartment will now overlook my balcony.

If my apartment is currently worth €550k, what will be the loss in value when it is no longer on the top floor?

Thanks,

Joey
 
Penthouse apartments attract a premium price, they being usually associated with a view and the fact that there's is no one above you (no noise). Also penthouses would tend to be planned a little differently and are more generous space wise.
 
Sorry I should clarify a bit more.

My apartment is a "standard" apartment in terms that it is not laid out differently from the apartments on floors below me. The only difference is that I am on the top floor and I am trying to gauge what value my apartment will lose when it is no longer on the top floor.

Thanks again,

Joey
 
Maybe ask an estate agent for feedback on how s/he would value the apartment in the two different situations. I'm a bit unclear on why this is a concern to you unless it's in order to decide whether you should sell up now or sit tight?
 
It doesn't seem to apply in your case, but I live in a penthouse apartment which has attic storage space, which is a huge benefit when space is at a premium. If any new floor was to be built I would lose the use of that space.

In your case you should look at the original selling price of your apartment and that of one which is one floor down from you. If they're exactly the same in terms of layout then the difference in price (if any) is the premium that you paid. This premium would presumably no longer apply if your apartment is no longer on the top floor.
 
binman said:
It doesn't seem to apply in your case, but I live in a penthouse apartment which has attic storage space, which is a huge benefit when space is at a premium. If any new floor was to be built I would lose the use of that space.
Click to expand...

I'm not sure of my entitlement to the space above me in the roof of the building (where they are planning building the new apartments), but if I did I could conceivably build a 2nd floor in my apartment.
 
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