Monday 5 August 2013

How do waterfront locations affect prices around the world?

Waterfront properties in sought-after coastal locations cost 63% more, on average, than similar properties that are landlocked, according to Knight Frank analysis.

To find out what the biggest premiums for coastal views are, they surveyed local agents in 10 popular second-home destinations around the world to find out the premium paid to live on the water.
Across the board, prime waterfront properties in coastal locations around the world are worth an average of 63% more than their inland counterparts.
However, there are regional differences from city to city. Waterfront properties on Italy’s Lake Como and in Barbados have the highest price premium. In both locations coastal homes can command prices 100% higher than equivalent homes inland. They were followed by homes in Phuket in Thailand and the central Algarve along Portugal’s southern coast where values increase by 89% and 75% respectively.
At the other end of the scale prime waterfront properties in coastal locations in Dubai are only worth an average of 10% more than inland homes. In The Hamptons, home to some of the most expensive residential properties in the US, the presence of water only increases the value of a property by an average of 30%.
The full list can be seen below.
Lake Como, Italy: 100%
Barbados: 100%
Piglet, Thailand:89%
Central Algarve, Portugal: 75%
Miami, USA: 60%
Cannes, France: 40-60%
Cape Town, South Africa: 56%
Mallory: 50%
The Hamptons,USA: 30%
Dubai 10%

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