Bolsover Cruise Club researched into the extra cost to live within one mile of famous landmarks, compared to rest of the city. Hollywood Sign revealed as most expensive costing £1,219,076 extra (1057% increase). Burj Khalifa, Washington Monument, Sydney Opera House and Eiffel Tower follow behind.
The Hollywood Sign is the most expensive landmark to live next door to, new research has revealed.
The research, conducted by cruise agent Bolsover Cruise Club, found out how much more properties cost close to famous landmarks, compared to elsewhere in the city.
The study looked into the average house price in international cities and compared this to the average price within one mile of the landmark. This consequently revealed just how much extra it will cost house buyers to purchase a dream home right next to famous monuments (and revealed the top 20 most expensive in the world!)
Those wanting to live right next to the Hollywood Sign will have to fork out an extra £1,219,076.29 (a 1057% increase!) compared to the rest of the state. Over in Dubai, the Burj Khalifa had a 687% increase (extra £843,965.92).
The Washington Monument had a 678% increase (extra £1,892,158.90), the Sydney Opera House had a 459% increase (£2,224,604.69 extra), and the Eiffel Tower had a 334% increase (£1,867,037.91 extra).
The top ten most expensive were revealed as:
|
Landmark |
Average Price Within City (£) |
Average Price Within 1 Mile of Landmark |
% Increase |
||||
|
£115,360.91 |
£1,334,437.20 |
1057% |
||||
|
£122,781.50 |
£966,747.42 |
687% |
||||
|
£278,902.51 |
£2,171,061.41 |
678% |
||||
|
£484,352.11 |
£2,708,956.80 |
459% |
||||
|
£559,403.53 |
£2,426,441.44 |
334% |
||||
|
£579,363.31 |
£2,110,601.47 |
264% |
||||
|
£1,355,731.05 |
£4,895,250.81 |
261% |
||||
|
£505,361.07 |
£1,438,414.56 |
185% |
||||
|
£255,424.79 |
£691,934.82 |
171% |
||||
|
£679,932.92 |
£1,825,716.98 |
169% |
On the other end of the scale, the most affordable landmarks to live near were revealed to be the Colosseum in Rome (the only landmark that saw a decrease to live within 1 mile) followed by the CN Tower in Toronto (11% increase) and Prague Castle (12% increase)
The research also investigated how popular the landmarks are with tourists on social media and whether popularity as a holiday spot reflected an increase in property prices.
The five hashtag uses and their corresponding price ranking:
1. Eiffel Tower. 5.2 million hashtags (5th on price increase)
2. Big Ben. 2.9 million hashtags (11th on price increase)
3. Golden Gate Bridge. 2.4 million hashtags (6th on price increase)
4. Empire State Building. 2.3 million hashtags (10th on price increase)
5. CN Tower. 1.1 million hashtags (19th on price increase)
Michael Wilson,Managing Director at Bolsover Cruise Club, commented on the findings: “With so many tourists flooding to see these popular landmarks every year, we wanted to research just how much it would cost residents to purchase a property with a famous view.
“We all might dream of living in the Hollywood Hills, or next to the Eiffel Tower, but it seems residents will have to fork out over £1million to do so! With tourists also documenting all their trips on social media, it was interesting to see that popular landmarks on Instagram don’t necessarily correlate to the most expensive to live by.
“Cities themselves might be expensive, but our research shows it gets a whole lot more expensive on the doorstep of fame!”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
