If you love being by the sea, get ready to pay for the privilege
The Front Strand, Youghal, a Blue Flag beach where houses will cost a bit more. 19659004] Although the purchase or lease of a property with sea views is more expensive, the badysis of more than 500,000 listings has established how much more there is. beach lovers pay for the benefit of the property.
Ronan Lyons, an economist at Trinity College Dublin, on behalf of the Daft.ie website found that buyers pay up to 32% more for a property with a sea view.
L & # 39; The badysis consisted of placing lists on a 3D model of the country to calculate the extent of the view of the sea enjoyed by the properties, as well as how each property was close to beaches, cliffs and the coast.
She found that houses within a 1km premium radius of 6,200 euros, but "It's not surprising that properties close to the sea or with good sea views are worth more than d & # 39; Others, "said Lyons.
But, until now, it was impossible to systematically tell how many other properties close to the coast might have been worth.
"The two most beautiful developments in the blue space are the depth and the proximity of the pebbles, both of which add on average over € 10,000 to the value of the properties. This may reflect the dangers badociated with cliff edges or even the risk of erosion.
"The same badysis was done on rental listings and the same results emerge: being close pebbles and have a wide or deep view of the coast. reflected in higher rents. Being close to the cliffs is badociated with lower rents.
The enormous size of the data set – even compared to similar studies in other countries – means that it is possible to drill into the figures in more detail. less than 100 m from the coast and having the greatest sea view, are one-third more expensive than identical properties, but are more than five kilometers from the coast and have no view on the sea.
are somewhat near the coast, say between 500 meters and one kilometer, and which have some view of the sea, there is a price premium but it is much more modest: less than 5%. "
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Understanding consumer preferences in the housing market means that planners can adapt their zoning and development plans accordingly, "he said.
" If there is a Huge premium for views, bigger on the coast, construction on the coast may be the best way to facilitate supply to meet the demand.In the century of the city, the sea may be the key. " 19659015]
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