Waterfront properties in London continue to command a premium with the demand for residential assets remaining stable this year.
More than half of prime buyers of London’s waterfront properties are owner-occupiers with the other half split evenly between investors and second home buyers, who are attracted by the unique lifestyle the river has to offer. However, the prestige of living on London’s riverfront comes at a price!
A latest report from Savills revealed that along the 27-mile stretch of the Thames between Teddington Lock and the Royal Docks, buyers are willing to pay, on an average, 14.6 per cent more for second-hand flats located within 100m of the shore, compared with those up to 1km away. This figure does vary depending on location.
Riverfront properties in the central stretch of the Thames, between Putney Bridge and Waterloo Bridge, are considered the most expensive, with buyers paying a premium of 22 per cent on the north bank and 28.2 per cent to the south.
To the east, in prime markets such as Canary Wharf and Wapping, the premium for a waterfront property is 15.6 per cent.
The waterfront properties also have better rental values compared to properties away from the river.
If you are interested in buying a waterfront property in London, Strawberry Star can assist you. Please call our London office for an appointment with estate agents.
Other benefits such as large outside spaces, state of the art residents' facilities and penthouses will command higher prices but at a more variable and location specific rate.