Which Apartment View is Costlier: Sea View Or Mountain View?

Another view attracting buyers in the city is the ‘Mountain View.’ Lately, Supertech group has launched 'Araville' project that offers the view of Aravallis.

R K Arora, the chairman and managing director of Supertech, stated that "We have created only 500 apartments on 10 acres, which means lower density and like in any premium project, we have focused on the view.  Each unit is three-side-open with semi-circular balconies that give a panoramic 360 degree view of the Aravali hills. Araville project is in Sector 29, at the foothills of the lush green Aravali hills, and will make for a relaxed living with an idyllic view."

Now the question that arises here is whether the ‘sea view’ or ‘mountain view’ prized most. According to Sachin Sandhir, the managing director of RICS, South Asia, "Properties with spectacular views are worth more, for sure; but there is really no set formula for trying to work out any additional value that may, or may not, be attributable to a view.”

Sandhir further explained that "However, in developed countries, a few studies have been conducted to ascertain the 'value of a view' where full or partial ocean view, Mountain View, lake view, etc, have been taken into account.

Though such research has found the view having a substantial impact on the value of a property, the results have varied considerably. Unobstructed Ocean or lake view seems to have the most impact on a property value which has varied from 30-90 percent - closer the view, higher the impact.

Studies in Hong Kong have shown that a harbour view could increase the value of an apartment by 2-3 percent only, while a broad mountain view would depress apartment price by 7 percent. A study in South Carolina suggested 9-12 percent premium for a property atop the hill with an unobstructed view of a city or open space," reports Economic Times.