Waterfront properties over 60pc more expensive

Photo credit: Holly Hayes

The agent’s research has found that waterfront properties carry a premium of up to 63 per cent compared to properties that are landlocked.

Knight Frank surveyed agents in the 10 most popular second home destinations to find out how it would cost to live on the coast finding a surprisingly high average difference around the world.

The exact figures vary from region to region: waterfront property in Lake Como and Barbados carry the highest premiums, with coastal real estate costing up to 100 per cent higher than equivalent homes inland. Phuket and central Algarve followed close behind, with values up to 89 per cent and 75 per cent higher respectively.

Waterfront property in Dubai, on the other hand, only boasts an average uplift of 10 per cent, while The Hamptons, home of some of the most expensive US residential properties, sees waterfront property prices increase by just 30 per cent.

The full findings are presented on the Knight Frank website:

Coastal Location

Average Premium

Lake Como

100%

Barbados

100%

Phuket

89%

Central   Algarve

75%

Miami

60%

Cannes

40-60%

Cape   Town

56%

Mallorca

50%

The   Hamptons

30%

Dubai

10%

 

 

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