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In The Laps Of Luxury

21.12.20

It’s not just greenery and outdoor space that are in high demand since lockdown. Waterfront properties have confirmed their global appeal as people seek to transform their lifestyles. Heath Ellison investigates

While priorities for some buyers in recent times have been to escape to the country, a number of developers have seen heightened interest from aspiring homeowners keen to enjoy a waterfront view. It’s a move that can be triggered for a number of reasons, although industry research indicates that enhanced emotional wellbeing and a healthy capital yield, are cited as the primary factors that can make this lifestyle choice so incredibly special. 

“The UK lockdown has provided people with plenty of time to think about their current lifestyles and reassess where they want to live. Its no surprise that waterfront living, in keeping with people’s desire for more space, remains in such high demand,” said Chris Druce, senior research analyst at Knight Frank. 

Indeed, the latest research by the global firm further highlights that demand has skyrocketed for developments with such a unique selling point, and that the very best are priced as much as 81% higher than comparable inland homes. 

Water has a mesmerising effect on people,” said Trevor Abrahmsohn, chief executive of estate agency Glentree International. “Waterfront properties tend to remain in private hands for longer because people have to put in the extra leg to secure them in the first place, which is why they command such a premium.  

It seems also that not only is there significant interest in the domestic market for properties situated on the banks of a river, but global demand as wellJust from overseas buyers alone, 2019 saw an 8% increase in web searches for UK waterfront property. 

According to Christopher Bailey, head of national waterfront at Knight Frank,  the diverse nature of waterfront property across the UK is attracting a real melting pot of buyers from all walks and at all stages of life, whether they be upsizers, downsizers or simply those looking for a lifestyle change.  

 Our web search data also 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. In many cases the view is more important to buyers than the property itself. You can alter the property, but you can’t alter the outlook. The most important aspect to understand from a buyer’s perspective is the lifestyle they are looking for and how that can be matched to the home they eventually hope to buy. 

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