Prices for prime waterfront properties are on average 40% higher than comparable
properties inland, according to the new Knight Frank Global Waterfront Report.
Harbour-side addresses command the highest premium at 59.1% followed by beachfront homes (58.5%), river (36.8%) and lakeside (32.7%) homes.
Australia dominates the Knight Frank Global Waterfront Monitor. Sydney (89.3%), the Gold Coast (64.1%) and Perth (53.2%) lead the rankings with Dubai (50.7%) and Paris (48%) sitting in fourth and fifth position.
Knight Frank Global Waterfront Monitor
|
City |
Premium calculated as at Q3 2018 |
|
Sydney |
89.3% |
|
Gold Coast |
64.1% |
|
Perth |
53.2% |
|
Dubai |
50.7% |
|
Paris |
48.0% |
|
Hong Kong |
39.9% |
|
Lake Geneva |
32.7% |
|
Melbourne |
30.4% |
|
London |
30.0% |
|
Berlin |
28.0% |
|
Monaco |
11.1% |
|
Singapore |
7.7% |
Source: Knight Frank Research
Liam Bailey, global head of research at Knight Frank said,
“Waterfront addresses are amongst the most desirable in the world, however not all prime waterfront properties are equal and the premiums vary depending on location and amenity.
“The waterfront market is amongst the most liquid. Even in a depressed market, due to their position and scarcity, a frontline waterfront property will face strong demand with prospective buyers aware that their future exit strategy will also be assured.”
Analysis shows there is some correlation between the volume of water and the premium generated. Where water is in abundance – island properties such as Hong Kong and Singapore – the premium is smaller.
Waterfront homes are most popular amongst British buyers followed by the US, Canada and Germany.