GOLD Coast waterfront properties are so popular they are generating the second highest premium globally, even trumping similar properties in Dubai and Paris, a new report reveals.
The Knight Frank Global Waterfront Monitor in the independent property consultancy’s latest publication Global Waterfront Report 2019 reveals the Coast generates a 64.1 per cent premium, only beaten by Sydney (89.3 per cent).
The top five cities around the world are dominated by Australia, with Sydney, followed by the Gold Coast, Perth (53.2 per cent), Dubai (50.7 per cent) and Paris (48%).
Liam Bailey, Knight Frank’s Partner, Global Head of Research, said waterfront residences were among the most desirable in the world but premiums vary depending on location and amenity.
“Our Global Waterfront Report 2019 found that being located alongside a harbour generates the highest premium of 59.1 per cent,” Mr Bailey said.
“This is closely followed by beachfront homes which command an average uplift of 58.5 per cent, with Sydney and the Gold Coast registering some of the highest uplifts for beachfront properties.
“River and lakeside residences are on average 36.8 per cent and 32.7 per cent higher respectively.”
The top five sales on the Gold Coast this year are all on the waterfront – with the beachfront taking our the top two.
Michelle Ciesielski, Knight Frank’s director, research & consulting, Australia, said interstate interest in waterfront properties on the Gold Coast was continuing to increase.
“The value proposition continues on the Gold Coast for prime, waterfront property when compared to other cities around Australia and we’ve seen increasingly more interstate inquiries as a result,” Ms Ciesielski said.
“Owner-occupiers, and in particular those downsizing, are seeking high-quality homes situated along on the beachfront and on the river to combine the lifestyle of having access to their luxury boat and water views from most rooms.”
REIQ Gold Coast zone chairman Andrew Henderson attributed the Gold Coast’s sought-after lifestyle for its huge premium.
“We’ve pretty much got 365 days a year that the water is potentially accessible,” Mr Henderson said.
“In Dubai it’s often too hot and in Pairs in the middle of winter it’s too cold.
“We’re also lucky we have a lot of housing along the waterfront – in places like Dubai and Paris it’s mainly units so housing would be limited there.”
Mr Henderson said waterfront living was also aspirational.
“Anything that is a little bit rare often has more value and of course the more people who desire it creates additional value,” he said.
Harcourts Coastal agent Katrina Walsh, who is marketing 113 Tallebudgera Drive, Palm Beach, said living on the waterfront was often considered the epitome of Gold Coast living.
“Everyone who comes to the Gold Cost wants to living on the waterfront, whether that’s the beachfront, riverfront, on the creek, estuary or canal,” she said.
“Families are wanting that lifestyle as well where the children can enjoy the waterways – whether that’s on a paddle board or a boat.”