Next come harbour and riverside locations but the data reveals the premium for a riverside location has swelled whilst a harbour destination has ebbed in the past 12 months.ĭata from Rightmove Overseas suggests the appetite for waterfront living looks set to persist. Beachfront homes have extended their lead since last year, such a home now enjoys a 76% premium, up from 63% in 2022.
Target a beachfront home if you want the biggest uplift. Beach is No.1ĭifferent types of waterfronts generate different premiums. The desirability of waterfront homes and the potential they offer as an inflation hedge alongside capital preservation is likely to see demand swell further given the current economic backdrop. Tight building restrictions will limit the availability of stock, whilst on the demand side, investors vie for such homes alongside second home purchasers, given their rentability as holiday lets and above-average occupancy levels. The scale of the uplift is attributable to supply and demand.įrontline water access is a rarity in cities and protected areas of outstanding natural beauty. Sydney’s antipodean neighbour, Auckland sits in second place in this year’s rankings, with a waterfront home commanding a 58% premium.Įuropean destinations including Monaco (42%), Cap d’Antibes (40%) and Paris (38%) complete the top five. Each apartment enjoys uninterrupted water views with a starting price of US$6.5 million. If evidence were needed, the 76 Crown Residences at One Barangaroo, located on the iconic Sydney Harbour, has made up 79% of Sydney’s super-prime CBD apartment sales since March 2021.
Trophy homes with views of Sydney Harbour Bridge and Sydney Opera House face stiff competition. In 2023, Sydney retains the top spot in Knight Frank’s Global Waterfront Index with a waterfront property generating a 118% premium on average, down only marginally from 121% last year. Categories: Property Sector Residential Sales World Regions Global
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