In the new projects sector, the view on offer from each new apartment carries a whole lot of weight and is a significant factor that differentiates one sky home from another. 

New research by K Property Insights, in collaboration with Michael Matusik, shows that the scenery, elevation and clarity of a view can impact the purchase price by as much as 80%.

The report assesses the price impact of five common view types on a new apartment with a hypothetical base value of $1,000,000.

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GROUND LEVEL, UNOBSTRUCTED VIEW
Increases Price by 3%-5%

This view category places you at the same level as many neighboring properties but offers the privilege of gazing upon a spacious, non-residential vista, such as an open space. Such a view can increase a property’s sale price by 3% to 5%, potentially elevating it to $1,050,000.

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ROOFTOP, PARTIALLY OBSTRUCTED VIEW
Increases Price by 6%-8%

A view from above grants you the advantage of nearly unobstructed sightlines, with just a few structures partially impeding your view. Generally, the higher the view, the higher the value it brings. A rooftop’s partially obstructed view can add 6% to 8% to your property’s value, pushing the potential sales price to $1,080,000.

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MEDIUM ELEVATION, UNOBSTRUCTED VIEW
Increases Price by 9%-12%

Homes perched atop small hills that offer unobstructed views of the surrounding area fall into this category. These views command more value, as they extend beyond a few neighboring houses. Such a view can increase a property’s value by 9% to 12%, potentially reaching a new sale price of $1,120,000.

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HIGH ELEVATION, UNOBSTRUCTED VIEW
Increases Price by 15%-25%

An expansive, panoramic view from your home can significantly enhance its value. The value added can vary greatly, depending on the specifics of the view, but it can potentially boost the sale price to a high of $1,250,000.

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WATER VIEW, UNOBSTRUCTED
Increases Price by 30%-80%

The most coveted view remains one that encompasses a vast body of water, with saltwater views taking the top prize. For premium values, the water view must be unobstructed and visible from multiple rooms. Depending on the water body, property value can soar by up to 80%, pushing the price of a $1,000,000 base house to a staggering $1,800,000.

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