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Why investing in waterfront development in Rhode Island is a wise move – Emilio DiSpirito
By Emilio DiSpirito, contributing writer, Real Estate Advisor, Private Office Advisor and License Partner with Engel & Völkers East Greenwich and Engel & Völkers Barrington East Bay.
When it comes to real estate investments, location is everything—and few locations are as desirable as waterfront properties. Rhode Island, known as the Ocean State, offers about 440 miles of pristine shoreline and a lifestyle that blends coastal charm with sophisticated living. Waterfront development in Rhode Island is not just about scenic views and luxury living; it’s about making a solid financial investment. Here’s why investing in waterfront development here could be your smartest move yet.
1. Limited Supply, High Demand
Rhode Island’s coastline is both beautiful and finite. This limited supply of waterfront properties creates a unique market dynamic where demand continually outpaces supply. As more buyers look for homes offering ocean views, private docks, and easy access to beaches, the value of waterfront real estate continues to rise. Investors who get in early on waterfront developments can expect their property values to appreciate significantly over time.
2. Growing Appeal to High-Net-Worth Individuals
The luxury market in Rhode Island has been steadily growing, particularly in sought-after coastal towns like Newport, Narragansett, and Jamestown. High-net-worth individuals (HNWIs) from around the country are drawn to Rhode Island’s coastal charm, world-class sailing, and relaxed yet elegant lifestyle. Waterfront properties are in especially high demand among this affluent group, meaning your investment will likely attract buyers willing to pay a premium.
3. Potential for Short-Term Rental Income
While waterfront homes in Rhode Island make for stunning private residences, they also hold strong potential as short-term rental properties. With the state being a popular vacation destination, particularly during the summer months, luxury waterfront homes are often rented for premium prices. For investors, this means a lucrative opportunity to generate significant rental income when the property is not in personal use.
4. Rhode Island’s Thriving Tourism Industry
Tourism is one of Rhode Island’s largest economic drivers. Every year, millions of visitors flock to the state to enjoy its beaches, boating, historic sites, and renowned events like the Newport Jazz Festival and America’s Cup sailing races. By investing in waterfront development, you position yourself to tap into the thriving tourism industry. This is especially true for properties near hotspots like Newport Harbor or Block Island, where demand for vacation rentals and seasonal homes remains high.
5. Resilience in Economic Downturns
Waterfront real estate has a long history of weathering economic storms better than other types of property. During times of economic uncertainty, the unique allure and exclusivity of waterfront homes often insulate them from sharp market downturns. As an investor, this means your waterfront property is likely to retain its value and even grow over time, offering stability in an otherwise volatile market.
6. Lifestyle Appeal for Retirees and Relocators
In recent years, Rhode Island has seen an influx of retirees and individuals relocating from larger cities, looking to escape urban congestion while maintaining a high quality of life. Waterfront homes offer a peaceful retreat, making them particularly appealing to this demographic. By investing in waterfront development, you position yourself to attract buyers who are looking for their dream retirement home or a serene escape from city life.
7. Pro-Business Environment for Developers
Rhode Island has been working to streamline its development processes and offer incentives for real estate developers, particularly those focused on revitalizing its waterfront areas. Whether it’s converting industrial waterfronts into vibrant mixed-use developments or constructing new luxury homes along the coast, there’s growing support for projects that enhance the state’s economic vitality. For developers, this creates a welcoming environment that makes investing in waterfront projects even more appealing.
8. Environmental Sustainability and Smart Development
As more buyers become conscious of environmental sustainability, waterfront developments in Rhode Island are increasingly adopting eco-friendly practices. Green building techniques, sustainable materials, and designs that protect the natural environment are not just trends—they’re becoming the norm. Investors can benefit from this shift by offering properties that meet the growing demand for sustainable, high-end waterfront living.
9. Endless Recreation and Lifestyle Opportunities
Lastly, Rhode Island’s waterfront properties offer an unmatched lifestyle. Whether it’s boating, fishing, swimming, or simply enjoying the view, waterfront living appeals to buyers and renters alike. The state’s deep maritime history and abundance of recreational opportunities make it a highly attractive location for those seeking both relaxation and adventure. This lifestyle factor adds to the long-term value of waterfront developments, making them desirable investments for years to come.
Conclusion: Now is the Time to Invest
Waterfront development in Rhode Island offers a unique opportunity to invest in one of the most stable and in-demand markets in the state. With limited supply, high demand, and strong appreciation potential, waterfront properties present a lucrative investment opportunity. Whether you’re looking to build, develop, or simply purchase a piece of Rhode Island’s stunning coastline, now is the perfect time to make your move.
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By investing in Rhode Island’s waterfront, you’re not just buying a piece of land—you’re investing in a lifestyle, a growing market, and a future of financial security.
To read more articles in RINewsToday by Emilio, go to: https://rinewstoday.com/emilio-dispirito/
Emilio DiSpirito, Realtor and License Partner, Engel & Völkers East Greenwich and Engel & Völkers Barrington East Bay, 401-359-2338 – –[email protected] – Instagram: @EVRhodeIsland – Website: EastGreenwich.EVRealEstate.com
Emilio DiSpirito – If you would have asked me what I wanted to be growing up, little Emilio would have told you “an archeologist” or “an architect” despite the fact that at age 8 I had my first lemonade stand, landscaping business and was recording my first “news show” on my boombox! Well, I never was much good at trigonometry and did could not see myself traveling for months and possibly years at a time, so becoming an architect or archaeologist clearly did not happen!
Fast forward 26 years later and I’m running a team of the finest residential real estate professionals, own a media company and host my very own radio news show about real estate! For 7 years straight it seemed that I had put in more hours than the day had to give on my real estate business. 7 days a week, 14 to 16 hour days, without a break! Why? My friends and family did not understand the sheer magnitude of moving parts and services we offer to our clients during a transaction! One slip up or one missed call could mean make or break for someone’s dream home or even a lost deposit!
Running a team of like-minded, highly qualified and capable professionals has allowed me to offer a very streamlined, simplified and efficient approach to the sales process for our clients and allowed me to earn personal time again with my family while not missing a beat for my clients! When I’m not working, I’m with family and friends, riding my mountain bike, eating at local restaurants, enjoying live entertainment, hiking, skiing or reading!
1. There are no private beaches in RI. 2. “Potential for Short-Term Rental Income” y’all are the reason that no one who grew up here can afford to live here or buy a home anymore.
What?! Where… “waterfront developments in Rhode Island are increasingly adopting eco-friendly practices”? Everywhere I look the vegetation is clear cut right up to the dune’s edge. I see sod with irrigation and massive driveways that fit 18-wheelers. How about the air conditioning units we saw dangling from raised structures? What’s paramount in the debate is that ANYTHING built on top of barrier beaches or cliffs will accelerate erosion. End of story.
A nice home sitting on a cliff is not within the means of most Rhode Islanders. I love the beach and the serenity it offers.
Realistically, how many houses are sitting on a cliff? Not many and they will be subject to storms and erosion. The photo may be a stock photo but there is nothing to protect it from the elements. The house is going to get slammed by being high up. There is no in-between.
I spent summers as a kid at Matunuck. I didn’t learn to swim there – the undertow was terrible. It had a wide, beautiful beach and I’d walk down to the tide pool, watching the starfish, snails, and mussels. It was rocky but the tide came in gently. Walking back, the waves weren’t so gentle and now there is no beach.
There will come a time after I’m gone that the nice little house on the cliff will tumble into the sea as the waves eat away at the cliff.
These homes, no matter the size, tell me ”buyer beware”. We live on salt water and nothing does more damage than salt water. You’d have to be very wealthy just to maintain it.
Maybe if I win the lottery, it could be reality, but I’m not holding my breath.
“Weathering economic storms”. No mention of weathering an actual storm? If there were substantial storm damage (and yes it is a thing) one would have to get permission from the Coastal Resource Management Commission to rebuild because the control the land under and around your oceanfront home. Have you seen the cost of construction these days? Good luck with homeowner insurance premiums followingajor damage.
Oh and another thing. There are no private beaches in Rhode Island. What that means is anyone can walk on the shoreline and linger ten feet above the wrack line. It’s in the Rhode Island state Constitution . Just a friendly mention.