Does an apartment view add value to the apartment?

Anyone would love to have a beautiful view of lush green trees, a sea, a lake or mountains and hills from their atop window.

Most of us dream of owning an ideal dream home which involves a scenic beauty of nature. If we are investing in a greater property we expect the home to have an ocean or a harbour view. Nature oriented views soothe our mind and lives and henceforth such views add to the value of the property.

The role of ‘beautiful views’ from an apartment:

Apart from just hills, oceans, lakes and trees, the value of the property is higher if there is a view of a park with fresh plants and a bustling street with easy access to various facilities. Apart from just the solace and a contemporary lifestyle, a great view from an apartment or a building creates emotions within the buyers. Any sort of pleasant private outlook is a huge plus for the owner as he/she can price the property based on that. Most nature lovers earn to own a property with beautiful views and crave to wake up to views of hills, beaches or harbours. The view from each property is unique and it can be enjoyed by people surrounding it and if a property buyer earns to have a scenic apartment balcony, he/she wouldn’t budge from the idea of owning it.

Various studies in different countries have shown that a harbour view can increase the value of the apartment by about 2-3 per cent whereas a mountain or a hill view can increase the value of the property by about 7 per cent. Most of the apartments with an unobstructed view have higher property value. One of the most popular views of an apartment is the water view which has the highest property value of about 44 per cent. Whereas a broad harbour view from an apartment can increase the value by about 2.97 per cent and a confined harbour view can increase the value of the property by about 2.18 per cent.

One of the important aspects of having a beautiful view from an apartment is putting a value on the human need for privacy, status apart from just the scenic view. However, the value of the view of an apartment is based on market demand which as mentioned earlier is that the buyer can pay the premium to own that scenic apartment.

Cities like Mumbai and others which have sea facing apartments with 2BHK will be priced at Rs. 5 crore, despite this the owner can still demand double the amount of that and still find the apartment in great demand.

Apart from selling such properties many owners prefer renting them away as they not only get good rental returns but also the capital appreciation will be phenomenal. Apart from just the sea facing apartments, there is also a major demand in golf course areas in many cities like Delhi and Mumbai. The golf course view is the next best option once all the sea facing areas are saturated.

The demand for such properties:

One of the main reasons for people to opt for such scenic apartments or golf course apartments is that they want to make their lifestyle a peaceful one as there is a lot of stress in the urban life and people really do not mind paying extra premiums for a serene housing.

The value of the property can also be measured through various techniques. For more information on that you can follow the below link.

http://www.commonfloor.com/articles/valuation-report-on-property-2096.html