PHOTO: Research shows Sydney’s waterfront properties

Tourism authorities have long argued that nothing beats Sydney Harbour. In real estate terms, at least, they’re right.

Waterfront homes in Sydney attract the highest price premium around the world, but what is the real cost to buy in? Experts say a shortage in prime waterfront property means the competition to secure a marina berth, a jetty or just a harbour view is getting fiercer.

While Point Piper is naturally the prime pick among the waterfront suburbs, those seeking to add a boat to their property might need to shift their gaze a little further afield unless they’re prepared to shell out a multimillion-dollar sum.