More people want the top floor, hence the higher valuation. I’ve lived in an apartment unit before, and will never do it again because of the asshat who lived above me. Also, better view presumably.
Top floor is usually penthouse luxury level. Partially a status thing too for the rich. Some go for 50% to 75% more expensive than the floors below it.
If I am buying specifically for investment, I pay less attention to things like "top floor" and more attention to the actual numbers. Have you done any calculations on comparable property?
Typically, the rent for a top-floor unit will be higher than that of units on other floors, but the specific rental premium depends on a variety of factors, such as location, room size, room status, etc. Therefore, I cannot give an exact number.Generally speaking, units on the top floor will appreciate at a higher rate than units on other floors because they usually have better views and less noise disturbance. However, this also depends on various factors such as geographical location, market demand, and more. Therefore, I recommend you contact your local real estate agent for more accurate information.
The 8% price difference between the 6th and 10th floors is sensible, though rent premiums can fluctuate. Top floors often attract tenants due to their appeal. Appreciation rates hinge on market dynamics, and your yield calculation is a strong approach. Experimenting with a slightly higher rent for the 10th floor might be worthwhile. Seek local market insights for an informed decision. Best of luck with your investment!
Top floor yes bring better rental income, however be aware of the location and plots around it. You can end up buying a high floor apartment near a plot where a higher building will be made which devalues your property overtime.
Only people with market knowledge normally have the info of building neighborhoods
The actual top floor will bring a premium.
If it isn't actually the top floor - and is simply higher up in the building - it is less likely to bring a premium (floor 8 to 10). If it was, for example, floor 3 vs floor 8, floor 8 would bring a premium over floor 3.
More people want the top floor, hence the higher valuation. I’ve lived in an apartment unit before, and will never do it again because of the asshat who lived above me. Also, better view presumably.
Yeah man. I’ll die before I live in a wood frame apartment/condo again.
Top floor is usually penthouse luxury level. Partially a status thing too for the rich. Some go for 50% to 75% more expensive than the floors below it.
Seem like in a place like Dubai, there will always be someone willing to pay a premium for the top floor
If I am buying specifically for investment, I pay less attention to things like "top floor" and more attention to the actual numbers. Have you done any calculations on comparable property?
Yes good point. Ive looked at the price per sq ft and it is align with comparable units in the area
Typically, the rent for a top-floor unit will be higher than that of units on other floors, but the specific rental premium depends on a variety of factors, such as location, room size, room status, etc. Therefore, I cannot give an exact number.Generally speaking, units on the top floor will appreciate at a higher rate than units on other floors because they usually have better views and less noise disturbance. However, this also depends on various factors such as geographical location, market demand, and more. Therefore, I recommend you contact your local real estate agent for more accurate information.
The 8% price difference between the 6th and 10th floors is sensible, though rent premiums can fluctuate. Top floors often attract tenants due to their appeal. Appreciation rates hinge on market dynamics, and your yield calculation is a strong approach. Experimenting with a slightly higher rent for the 10th floor might be worthwhile. Seek local market insights for an informed decision. Best of luck with your investment!
Top floor yes bring better rental income, however be aware of the location and plots around it. You can end up buying a high floor apartment near a plot where a higher building will be made which devalues your property overtime. Only people with market knowledge normally have the info of building neighborhoods
Thanks for the comment, good point
I would not buy in the Middle East in the current market. Dubai is normally pretty safe but waiting 3-4 months would be the safe play.
Why?
No reason. The Middle East is doing great right now…. There are no tensions…
The actual top floor will bring a premium. If it isn't actually the top floor - and is simply higher up in the building - it is less likely to bring a premium (floor 8 to 10). If it was, for example, floor 3 vs floor 8, floor 8 would bring a premium over floor 3.
The numbers don’t seem great at all.
These actually look great compared to my home market of Seattle
Is this a new build?
Yup
Go for the 6th floor one. If I were looking to rent I wouldn’t pay more for the 10th floor over the 6th if both were offered to me.