Prime waterfront properties are growing in popularity, with many now demanding significant price premiums over those positioned inland, a new report from estate agent Knight Frank has revealed.
According to the property body’s research, investment and healthy competition is booming in the prime waterfront sector, with buyers seeking out the exclusivity of luxury waterside properties straddling rivers, lakes and the sea – whether it be Thames-side properties in Central London or seaside homes in Devon and South West England.
The estate agent estimates that, on average, waterfront properties in the UK are now demanding an 81 per cent price premium over comparable prime inland homes of a similar size and standard.
Meanwhile, demand is on the rise both in the domestic market and amongst overseas buyers and investors. In fact, it says that more than half (55 per cent) of international searches or enquiries relating to waterside UK properties now come from Europe, while more than a quarter (26 per cent) come from the USA.
“For a number of purchasers it’s the ultimate lifestyle choice,” explains Christopher Bailey of Knight Frank.
“Waterfront property is very niche and very desirable, often in a market of its own and that helps to underpin values.
“The appeal really is global. Our web search data shows that individuals from all over the world searched for prime waterfront property in the UK last year, led by potential buyers in the US, Germany, France and Spain,” he added.
According to Knight Frank’s report, waterside properties in London and South East England now demand a price premium of anywhere up to 48 per cent on average – with waterside properties in some other regions priced as high as 105 per cent more than comparable prime inland homes.
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