In recent years, the trend of living in high-rise residential apartments has been on the rise in Pakistan, particularly in cities like Karachi and Islamabad. More and more people are adapting to living in vertical residential developments rather than traditional housing societies. Several factors can explain this shift, such as increasing urbanization, changing lifestyles, convenience, and amenities that apartments offer.
However, with the inflation, and the current economic situation of the country, apartment living is becoming increasingly expensive in Pakistan. This is especially true in cities like Karachi and Islamabad, where the cost of living is already higher. Additionally, the price of apartments tends to increase as the building height goes up, with higher floors demanding higher prices. In this article, we will look into the reasons why high-rise apartment prices are so high, especially when the building height increases up to 30 floors.
Why are High-Rise Residential Apartments So Expensive?
A lot of factors contribute to the soaring price of high-rise apartments in Pakistan or anywhere in the world. Some of those reasons are listed below:
Safety and Security
There are many upsides to living in a big house with a huge lawn and parking space, but there are some downsides too. For instance, house residents have more security threats with easy access to burglars through house walls and more break-ins.
However, the height of high-rise apartments provides residents with a sense of security and privacy, as it reduces the risk of break-ins, theft, and other security threats. This factor along with many other adds to the increased cost of these apartments as people are willing to pay more for peace of mind. Additionally, the higher your apartment is, the more secure it is and costs more, which is why penthouses are expensive.
Views and Lifestyle
One of the things that come to people’s minds when they’re thinking about high-rise residential apartments is the views. Apartments with astonishing sights of the skyline are usually located on the top floors, making them more desirable for buyers.
Those high-rise apartments offer breathtaking views of the city horizon, have less noise from the streets, and let more natural light in. These factors enhance the overall lifestyle quality for residents and compel them to pay more than the lower-level apartments.
Social Status and Prestige
Residential apartments on the topmost floors are often referred to as penthouses and are associated with prestige and exclusivity. These top-floor apartments are seen as a symbol of luxury and high social status making them more expensive than lower units within the building.
Most of the high-rise apartment buildings even give exclusive roof access to the penthouse residents and privileges to private balconies, and terraces. Residents can choose to utilize the extra space for growing a garden, making an outdoor gym or hosting space for gatherings. The exclusivity and privileges associated with penthouses and luxury apartments make them expensive.
Maintenance
High-rise residential apartments require regular maintenance and upkeep, which can be costly. Unlike houses and villas where you can move across different levels using staircases, apartment buildings need elevators and emergency exits.
Keeping the elevators up and running 24/7 needs technical support and consistent maintenance which adds up the cost even more. Another aspect of maintenance that makes high-rise buildings expensive to live in is glass window cleaning and terrace upkeep, which is a non-issue in horizontal living developments such as houses.
Location
Oftentimes, the high-rise apartments in big cities are positioned in central locations within posh and expensive neighborhoods. And while their prime location provides residents with easy access to public transportation, shopping, dining, and entertainment, they also increase the prices.
It is a fact that living in safe, gated and community-friendly areas costs more than living someplace where your security is compromised. Property developers majorly construct high-rise apartments in secure locations which contribute to the higher prices.
Affordable High-Rise Residential Apartments
Even though high-rise buildings are very expensive to live in, especially if they have more than 30 floors, Aurum One offers reasonably priced residential apartments in Islamabad. DHA and Paragon Developers started this venture right in the heart of the gated and urban vicinity of DHA Islamabad. Compared to the current developments in the capital city, Aurum One provides cost-saving options to its customers with affordable payment plans and diversified residential units.
The fact that the building has 43 floors does not necessarily affect its price compared to other developments in the area. In fact, the residents of this joint residential project by the two industry leaders; DHA and Paragon, can enjoy luxury amenities. You can make your future home in a prime location at reasonable prices by taking advantage of the easy installment plans and the 20% down payment offered by Aurum One.
