HAVING the Brisbane River off the front of your apartment block adds a whopping $308,500 to the price tag for your unit, latest research has found.
The Brisbane River is a sure-fire price achiever, the latest Place Advisory Riverfront Apartment report found, with buyers paying a $308,500 premium for riverfront apartments in the past six months.
The report, due for release today, found that over the past decade, riverfront apartments were 69 per cent more expensive than non-riverfront ones.
“There isn’t going to be any more riverfront land created so people pay a bit more for that exclusivity,” he said.
In the past six months the median price of a riverfront apartment was $763,500.
“This is 68 per cent more expensive than non-riverfront apartments, which recorded a median sale price of $455,000 for the same six-month period,” he said.
A quarter of inner Brisbane’s riverfront apartments were in Kangaroo Point over the past decade, the report found (1,149 units sold, followed by New Farm (717) but analysts expect to see a surge out of West End where there were “increasing volumes” of late.