Who wouldn't want a piece of Madrid's sky?
Who wouldn't want a piece of Madrid's sky?
Penthouses: the glamour of viliving on the heights
By Cristina Ocaña and Karen Silva
Located at the top of residential buildings in cities like Madrid, these homes inspire those looking for much more than just a place to live. With their sun-drenched terraces, breathtaking views and the incomparable feeling of living above the pulse of the city, penthouses embody the ideal of maximizing life.
Living in a penthouse in the prime residential areas of the capital offers the perfect duality between the excitement of being in the heart of it all, with the tranquility of a private oasis. But it wasn't always this way. These spaces have traveled a fascinating path throughout history, evolving into the true havens of comfort and style that we know today.
In the past, these lofty apartments represented the power of the elite, but over time they lost their appeal. It was in New York's vibrant 1920s that the penthouses, once neglected and dusty, re-emerged with a new identity.
On the cover: penthouse of SLS Madrid Infantas Residences (computer-generated image)
Good views and abundant natural light are desirable, as well as an efficient layout, preferably on a single floor.
Thanks to advances in elevators, the upper floors were no longer so inaccessible and became highly coveted spaces, redefining the concept of high-rise living.
Demand for penthouses has experienced a remarkable boom in recent years, especially in the post-Covid-19 period. In the current real estate landscape, buyers are looking for features that align with their preferences. Good views and abundant natural light are valued, as well as an efficient layout, preferably on a single floor. "Privacy is key; buyers avoid purchasing penthouses in buildings whose common areas or other homes overlook them, as this can diminish their appeal," says Valeria Cimonetti, Senior Residential Consultant at Knight Frank.
In the past, these lofty apartments represented the power of the elite, but over time they lost their appeal. It was in New York's vibrant 1920s that the penthouses, once neglected and dusty, re-emerged with a new identity.
Penthouse at El Viso Residences (computer generated image)
Thanks to advances in elevators, the upper floors were no longer so inaccessible and became highly coveted spaces, redefining the concept of high-rise living.
Demand for penthouses has experienced a remarkable boom in recent years, especially in the post-Covid-19 period. In the current real estate landscape, buyers are looking for features that align with their preferences. Good views and abundant natural light are valued, as well as an efficient layout, preferably on a single floor. "Privacy is key; buyers avoid purchasing penthouses in buildings whose common areas or other homes overlook them, as this can diminish their appeal," says Valeria Cimonetti, Senior Residential Consultant at Knight Frank.
Jardines of Velázquez (computer-generated image)
The search for a personal oasis has led buyers to prioritize penthouses that offer the advantage of having no adjacent neighbors. This sought-after privacy, together with their uniqueness, has led to penthouse prices that are 20% to 30% above the average for other homes in the building. Generally, those looking for this type of property prefer surfaces exceeding 150 m² and terraces of at least 20 m², with those reaching 30-40 m² being ideal. "High ceilings are especially valued and considered a real plus, while mansard roofs tend to be less attractive to most," says Armida Ortiz, Premium Properties Consultant.
A penthouse in a classic building can be an excellent option for those looking to personalize their space as much as possible and preserve the original architectural charm.
In the case of new construction projects, this growing interest in penthouses has caused them to sell faster than other units in the same building, making them highly valued assets. It is no coincidence that, as a strategy to maximize their price, some owners choose to "block" their sale until the end.
And who are the buyers of these exclusive havens? In line with the trend observed in the prime housing market in Madrid, between 60% and 70% of buyers are nationals, while 30%-40% come from abroad. Most are between 45 and 50 years old and are often childless or with young children who have already become independent.
Ultimately, it's not just a real estate choice. The prime penthouses in cities like Madrid represent an invitation to elevate our lives and a style statement that connects the best of urban living with the privacy we all crave. So, when we ask ourselves "who wouldn't want a slice of heaven in the capital?", the answer is clear: most do, and it's easy to understand why.