Phuket Seafront Property brings 89% more

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Monday 26 August 2013, 05:03PM from the Phuket News.

A recent analysis by property consultancy Knight Frank has confirmed what anyone in Phuket will tell you – that waterfront property commands a huge price premium. Knight Frank has put a number on that premium, in sought-after coastal locations in Phuket, it says, real estate costs 89 per cent more than for similar properties inland. The figure comes in a survey Knight Frank carried of 10 places around the world that attract international money for real estate. The Phuket premium is one of the highest in the world, exceeded only by Lake Como in Switzerland and Barbados, where waterfront property sells at double the price of inland real estate. They were followed by homes in Phuket and the central Algarve along Portugal’s southern coast, where values increase by 89 per cent and 75 per cent respectively. At the other end of the scale, prime waterfront properties in coastal locations in Dubai are worth on average only 10 per cent more than inland homes. In The Hamptons, home to some of the most expensive residential properties in the US, the presence of water nearby increases the value of a property only by an average of 30 per cent.