PETALING JAYA (Dec 18): Waterfront properties command an average 40% higher price compared to their inland counterparts, according to the new Knight Frank Global Waterfront Report.

According to the 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.

Moreover, Australia dominated the Knight Frank Global Waterfront Monitor with Sydney (89.3%), the Gold Coast (64.1%) and Perth (53.2%) leading the rankings with Dubai (50.7%) and Paris (48%) sitting in fourth and fifth position.

Knight Frank global head of research Liam Bailey said although waterfront addresses are amongst the most desirable in the world, not all prime waterfront properties are equal and the premiums vary depending on location and amenities.

“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,” said Bailey.

However, there was a 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,” the report said.

The report also said waterfront homes are most popular amongst British buyers followed by the US, Canada and Germany.

Knight Frank Malaysia associate director of international project marketing Dominic C. Heaton-Watson commented that 2018 was a fascinating year for his clients in Malaysia seeking waterside real estate in countries such as London, Berlin, Dubai, Sydney and Perth.

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