Penthouse Craze Catches Among Kenya’s Super-Rich

The desire to live high above the populace is increasingly becoming evident in the Kenyan capital Nairobi, as wealthy citizens seek to further refine their lifestyles.

Penthouses are gaining popularity, experts say, as the super-rich begin moving out en masse from their suburban homes into more secure and luxurious penthouses. Newly minted millionaires are also contributing to this craze as many desire a more private lifestyle.

As such, these units are becoming highly sought after – not just as a status symbol – but due to their privacy, panoramic views of the city, natural light, as well as the tranquillity of being way above the streets.

John Wang’ombe, a real estate agent in Nairobi, says the location of a penthouse above other structures makes it possible for owners to enjoy outdoor areas without having to worry about their privacy.

“Privacy is a key perk. Being so elevated means you are away from the crowds and traffic noise. And because there is little chance of being overlooked, penthouses usually have plenty of outdoor areas such as sun terraces, roof gardens, hot tubs, and barbecue spaces,” says Mr Wang’ombe.

This kind of privacy, however, does not come cheap and investors must be prepared to pay a premium. However, according to Mr Wang’ombe, those who buy penthouses are more concerned about their lifestyles than the price tags.

“It’s never a question of money, people who want a penthouse know they have to pay a premium and know that the fees will be high. For them it’s all about a great lifestyle,” he says.

“Penthouse owners are normally those with a substantial amount of wealth and who want something that identifies their refined taste.”

Ordinarily, penthouses come in sizes that range from 5,000 to 10,000 square feet and are priced almost double the price of normal apartments with most selling for more than Sh100 million.

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Larger penthouses are intended to be main family residences while small ones are mostly used as luxurious stopover pads.

According to Daniel Ojijo, the chairman of Homes Universal Group, although planned within an apartment complex, penthouses are usually built with privacy and security at the core, hence their attraction.

“Well-designed penthouses also have exclusive, uninterrupted and panoramic views, saunas and in-house gyms, multiple balconies and lounge areas,” he said in a past interview with the Business Daily.

Another key attraction for penthouses is the prospect of enjoying the exclusive lifestyle without the bother of maintenance costs associated with gated compounds or stand-alone houses that include security, gardening and the general upkeep of the building.

Property agent Knight Frank recently said it had between November and March sold two penthouses in Nairobi– each valued at over Sh200 million – revealing the huge price tag of such property.

The deals also exposed a new trend where the wealthy are shifting from the estates to the central business district to avoid perennial traffic jams on city roads.

“The wealthy won’t want to spend their time in traffic jams,” said Andrew Shirley, editor of Knight Frank’s annual Wealth Report which observes global prime property trends.

Mr Shirley said he expects the market to react to create “this environment where the wealthy want to have their properties in the cities.”

But despite the many positives, penthouses have their downsides too and these must be taken into consideration before signing the dotted line.

Outdoor spaces for higher properties come higher winds. Besides making you feel uncomfortable due to the cold, wind can also be upsetting due to the noise it generates.

This means the sun terraces and balconies that you pay a premium for are not always usable.

In addition, height can prove a major downside of a penthouse in case of a fire or a medical emergency.

This is because it will take longer for paramedics to get to the top floor, and pretty much longer for firefighters to get there.

“During renovations, transporting materials up to a top floor can be quite expensive, especially if the lift does not go all the way to the top, and the only way to the roof, for instance, is through internal stairs.

“If you are buying a penthouse with the hopes of upgrading it into a super luxurious residence, you should ensure the costs do not make that prohibitive,” says Mr Wang’ombe.

There are practical downsides that need to be considered. For instance, it takes longer to get downstairs in the lift, particularly during early morning rush hours. Mobile network issues have also been reported in some tall buildings.

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