Above: Bali, Indonesia
The appeal of waterfront destinations makes beach- and lake-oriented properties among the most popular. But how has demand changed over the past year—and what are buyers seeking? We asked Leading Real Estate Companies of the World® (LeadingRE) members from waterfront locations around the globe to shed some light.
Clubhouse Real Estate, LLC
San Juan, Puerto Rico
Brian Aronson, President & Owner
clubhouserealestate.com
RISMedia: Tell us about your company.
Brian Aronson: We are a full-service agency with experience in property administration, mortgage banking, new development sales, home sales and purchasing. We work in the communities of greater San Juan, Old San Juan, Condado, Isla Verde, Dorado and Paseo Caribe.
RISMedia: What are you seeing in terms of demand in your market?
BA: Demand has increased quite a bit as people look to find solace in the outdoors instead of the cities. Here in Puerto Rico, we have some attractive income tax incentive programs that encourage people to move to a tropical island while escaping lockdown in cities.
RISMedia: What features are especially popular with your buyers?
BA: Our clients want more outdoor space and outdoor living along with pools and other amenities. People are moving to places where they can enjoy their residence more, as opposed to their immediate surroundings in metro areas. Beach access, ocean views, floor-to-ceiling windows and large terrace spaces are in high demand.
RISMedia: What does your area offer when it comes to wellness for homeowners?
BA: Demand for coastal environments has increased in recent years. People gravitate toward what makes them feel good, and it helps to have a water view and access to the beach. Plus, island life in Puerto Rico includes many options for outdoor wellness activities, from rock climbing to scuba diving, kite surfing, beach yoga and more.
RISMedia: Is boating on the rise among your buyers?
BA: Yes. Buyers are keen to get boats and live on or near the water, with more access to beachfront space and views of the ocean. I estimate roughly 20% of our buyers own or plan to own a boat.
Dianium Residence
Alicante, Spain
Dr. Michael W.W. Lamm, CEO
dianium-residence.com
RISMedia: Tell us about your company.
Michael Lamm: We specialize in brokering and marketing high-end and exclusive luxury homes, as well as stylish villas, extravagant apartments and outstanding luxury real estate in exceptional locations, including Spain’s Costa Blanca.
RISMedia: How is demand for coastal properties this year compared to previous years?
ML: Premium properties with direct access to the sea or unobstructed sea views have stirred people’s emotions in the past, as well as in the present. The demand for such properties remains high.
RISMedia: Has COVID-19 affected the local market?
ML: As in other parts of the world, COVID-19 initially caused some hesitancy due to the constraints of travel, but interest has, in fact, increased. The pandemic brought back the idea of freedom and independence more than ever. Our customers are looking for their own destination in the high-end segment of the second-home market in order to not be at the mercy of such incidents in the future.
RISMedia: What are the main attributes buyers look for when purchasing a water-oriented property?
ML: The emotion reflected in the eyes of a prospective buyer when they step onto the balcony and their dreams come true—that’s what everyone is looking for, in addition to a safe location, direct access to the sea and/or the beach and other luxury amenities.
RISMedia: What amenities are most popular?
ML: This is nothing new in our case, but here again there is a link to the feeling of independence and freedom: having your own boat, your own spa and fitness area, spacious and resort-like indoor and outdoor living areas with complete amenities. Properties in the price bracket of €850,000 ($1,021,759 USD) up to €4 million ($4,806,560 USD) are the most sought after.
The Property Gallery Realty Inc.
Caledon, Ontario, Canada
Katharine Loucaidou, Broker of Record
thepropertygallery.ca
RISMedia: Tell us about your company.
Katharine Loucaidou; We are a modern, forward-thinking brokerage, offering cutting-edge marketing strategies, professionalism and superior market knowledge in the Caledon area, including the Muskoka Lakes region.
RISMedia: What are you seeing in the Muskoka Lakes region in terms of demand and pricing?
KL: The Muskoka Lakes real estate scene has experienced record-breaking sales in waterfront properties. In previous years, by the end of March, there would typically be 50 – 60 monthly sales recorded, with an average sales price of $669,000. At the end of March 2021, 223 monthly sales had already been recorded, with an average sales price of $1,013,000—an increase of 51.4% year-over-year.
RISMedia: Do you think the pandemic has had a role in this dramatic increase?
KL: Yes. Lifestyle confinement during the pandemic has played a key role in the desirability of Muskoka lakefront living. Consumers can embrace the flexibility of working remotely coupled with nature’s beauty. Access to more space and clean lake air, as well as internet access and access to local business centers in town, have created the ultimate work-life balance for those migrating from the major cities.
RISMedia: What amenities are most popular?
KL: The most sought-after properties are newer homes between 2,500 – 8,000 square feet with three or more bedrooms. Homes offering waterfront acreage with room for boathouses and additional living spaces; expansive docks for jet skis, boats and other fun water toys; and, of course, all-day sun and spectacular sunsets are especially popular.
Seven Stones Indonesia
Bali, Indonesia
Lisa Comsatun, Director of Real Estate
sevenstonesindonesia.com
RISMedia: Tell us about your company.
Lisa Comsatun: We specialize in residential and commercial property sales and rentals both in Bali and neighboring islands. We offer legal, marketing and fund management services, and cover a wide range of investment opportunities from off-plan developments to infrastructure projects.
RISMedia: What kind of demand are you seeing for waterfront properties this year compared to previous years?
LC: As a result of COVID-19, demand dropped dramatically initially, but we now see it increasing as people begin traveling and visiting properties they viewed online from around the world. Many also request virtual tours prior to arriving in Bali.
RISMedia: Has COVID-19 affected the local market?
LC: We see a strong and steady growth in requests for Bali, as life here has been fairly normal during the pandemic, as most facilities have remained open, despite the fact that there has been almost no tourism this past year.
RISMedia: Have you seen an impact on prices and/or demand?
LC: Overall, the prices dropped about 15% on average, but prices are now stable with a higher number of requests and an expected increase in transactions going forward. Bali is always among the top three destinations in studies on the movement of digital nomads/work-from-home/high-end individuals.
RISMedia: What are your buyers looking for when purchasing a waterfront property?
LC: Quality of build, functionality of the villa, great kitchens and the possibility to rent the property. Larger family homes are also popular. When it comes to lifestyle, people see that Bali offers access to the sea and beaches, as well as top spas and a general lifestyle that helps improve quality of life.
For more information, please visit www.leadingre.com.
