PHOTO: View of bungalows at the prime Sentosa Cove enclave in Singapore.

Singapore recorded the lowest premium for waterfront homes among 12 major cities around the world due to its plethora of waterscapes, according to a new report from property consultancy Knight Frank.

“Analysis shows there is some correlation between the volume of water and the premium generated. Where water is in abundance – island properties such as Hong Kong and Singapore – the premium is smaller.”

“Singapore registers the lowest premium (7.7 percent) and here our research confirms that sea views command a higher premium than river views,” it said.