Buying in Spain? This blog post sheds some light on the differences between ground floors and penthouses.
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Blog post copyrighted © 2019. Plagiarism will be criminally prosecuted.
By Raymundo Larraín Nesbitt
Lawyer - Abogado
1st of April 2019
Today, April’s fool, I decided to write a short blog post on the differences between buying a ground floor and a penthouse in Spain.
One of the first things that struck me when I moved to the United Kingdom to work for a British multinational, was the difference in concept between the UK and Spain regarding ground floors and penthouses.
In the UK, ground floors are considered the superior choice, the more expensive and prestigious option. Normally these properties are more accessible, as top floors in older buildings lack lifts (think of tenements); something which in Spain is almost taken for granted. You will be reminded of this each time you need to drag the groceries two flights of stairs in the UK. Besides this, ground floors have access to small, enclosed private gardens which are highly appreciated, especially in large cities. These, and several other reasons, translate into significant differences in property price. Hands down ground floors are the best option in the UK, even to rent out.
But how does this hold up in Spain?
Truth is not very well. In Spain, amusingly, this relation is in fact the opposite. Ground floors have traditionally been seen as ‘inferior’ properties and their price reflects this. Penthouses are in fact the coveted asset, specially in large cities where they are regarded as prime property and are a very sought-after commodity by those affluent enough to afford them.
What explains this difference in perception? Is it a reflection of differing cultural values, a whim? Personally, I think it has to do more with adaptation. There are objective justified reasons on why penthouses are – by far – the superior option in Spain; it is not something you can merely write off as a ‘cultural’ difference.
Penthouses have the following advantages over ground floors in Spain:
For all the above reasons, buying a penthouse is the superior option; at least in Spain.
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