Owning a home on or near the water never seems to go out of style.“You can live in a scenic setting, be out on a boat and enjoy a beach or another bod
Owning a home on or near the water never seems to go out of style.
“You can live in a scenic setting, be out on a boat and enjoy a beach or another body of water, even if you don’t swim,” said Danielle Hale, the chief economist for Realtor.com.
Waterfront homes may be even more coveted during the pandemic. According to data from Sotheby’s International Realty, searches for these properties on its site increased by 72 percent from January to Sept. 23, compared with the similar period in 2019.
Gregory Daco, the chief United States economist for Oxford Economics, said prospective buyers were seeking homes in less dense areas because of the pandemic.
While the Hamptons in New York, Miami, the Algarve in Portugal and the South of France are perennially popular places to own waterfront property, other emerging destinations are also attracting home buyers. But brokers warn that even in lesser known areas, prices for waterfront property can often exceed $500,000 or more.
Here are six up-and-coming spots:
In southwestern Turkey on the Aegean Sea, Bodrum has many beaches and a beautiful setting, said Michael Valdes, the president of eXp Realty. “It’s a great place to own a property because it’s affordable, welcoming to foreign investors and has a sunny year-round climate,” he said.
Julian Walker, a director at the London-based real estate firm Spot Blue International Property and a specialist in Turkey, said the area offers grocery stores, medical care and good accessibility to international flights.
The properties there include apartments in the city and villas in the more than dozen resort towns along the Bodrum Peninsula. He said one of the most upscale is Yalikavak, known for its marina and uncrowded beaches.
Apartment in the outskirts sell for as little as $55,000, while homes typically run $200,000 to $250,000.
Port d’Andratx, Majorca
A sophisticated fishing village on the southwest coast of this Spanish island, Port d’Andratx is in a residential area that has little tourism, said Christine Glawar, the director of the Sotheby’s International Realty office in Port d’Andratx. “There are no big hotels here like there are in other parts of the island, so it’s quiet and serene, but has great restaurants and shopping at the same time,” she said. “And, it’s safe.”
It also has a large marina, but Mr. Valdes said that prospective buyers should know that the beaches are rocky and not ideal for swimming.
Ms. Glawar said Germans had long been buying homes here, but more recently there had been buyers from England and mainland Spain. There are hillside villas that range from $2 million to more than $30 million and apartments in town. Residences in older buildings start at a half-million dollars, she said, while ones in newer luxury buildings cost from $1.2 million.
Locals often refer to Cascais, less than an hour from Lisbon, as the Portuguese Riviera, said Patrick Bonnet, the marketing director for Berkshire Hathaway HomeServices Portugal Property. “It’s one of most upscale places in the country,” he said. “Buyers love it for the great beaches, mild climate through most of the year and good infrastructure. Plus, you have golf and a natural park.”
Cascais has villas, homes and new apartments, but the cost of owning is high, compared to Algarve. Mr. Bonnet said apartments in Cascais started at around $800,000, while villas cost at least $2 million. It is where wealthy Portuguese own primary and secondary homes and is not as international as the Algarve, Mr. Bonnet said, which attracts foreign investors. However, in the last few years, other Europeans, especially the British, have started buying properties in Cascais.
Mr. Vlades said the limited number of foreign buyers did have a benefit. “You get a very authentic sense of place because it’s so Portuguese,” he said.
Ambergris Caye, Belize
Ambergris Caye is off the coast in northeast Belize and reachable by an hour-and-a-half boat ride or a 20-minute flight from Belize City. The 25-mile-long island is near one of the world’s largest reefs and offers scuba diving, snorkeling and fishing.
Philip A. White Jr., the president and chief executive of Sotheby’s International Realty, said that Ambergris Caye had homes and condos dotted along its coast and attracted mostly adventure-seeking buyers from the United States, although people from other countries had recently started to move in. “It’s a very pristine, back-to-nature island with a slightly rugged feel,” he said.
Prices for condos start around $200,000.
Andrew Ashcroft, managing director of Alaia Belize, a resort on the island, said he planned to start selling villas and condos there next year. He said, for example, that a three-bedroom villa on the beach would cost about $1.3 million, with taxes of $300 or $400 a year.
About a 10-minute drive west of Hilton Head, the city of Bluffton has the May River to the south and the Colleton River to the north, and many tidal creeks.
It was never a desirable destination to own a home, said Stacy Benedik, a broker with Dot Real Estate, because of its river setting and lack of development. However, that has changed in the last few years.
“This was a place of woodlands, but new houses all along the river have transformed it into a popular spot for vacation and retirement homes,” he said.
Bluffton has boating, kayaking and fishing He said the city had a classic South Carolina Lowcountry feel with friendly residents and a slow pace of life.
Many home buyers in Bluffton are from the Northeast, Chicago and Ohio, but before the pandemic the town also had buyers from Central America and Australia. Prices for three-bedroom homes near the rivers start at $300,000, said Mr. Benedik, while riverfront properties cost more than $1 million.
Manuel Antonio, Costa Rica
Manuel Antonio is an oceanfront village on Costa Rica’s central Pacific coast. Chris Simmons, a broker in Costa Rica with RE/MAX Ocean Surf & Sun, said the town was a laid-back, somewhat bohemian destination, with white-sand beaches, surfing and fishing. Its namesake national park, which has an abundance of wildlife including sloths and toucans, is also an attraction.
“Costa Ricans have an expression called Pura Vida, meaning pure life, and Manuel Antonio has a very high quality of life which is emblematic of that,” he said.
In recent years, Mr. Simmons said, Americans, Canadians and Europeans have started buying vacation homes there, which are a mix of beach cottages and hillside properties. Mr. Simmons said they came there for its scenic setting and its value for the money.
“You can find a very comfortable three-bedroom house with ocean views for less than $500,000,” he said.
Source: | This article originally belongs to Nytimes.com