The Australian real estate market has seen an unprecedented surge in prime residential properties, setting new records for luxury and opulence. As the definition of a "trophy home" evolves, both local and international buyers are intrigued by the allure of Australia's prestigious real estate market. In this article, we will explore the most expensive residential sales in Australian history, showcasing the epitome of luxury living.
One Sydney Harbour, Sydney - $140 Million
Topping the list is the extravagant residence at One Sydney Harbour, with a reported price tag of over $140 million. Situated in the iconic Barangaroo South development, this three-story penthouse, designed by Renzo Piano, is set to redefine luxury living in Sydney. Scheduled for completion in late 2023, the buyer, a local resident, plans to make this masterpiece their ultimate dream home.
Fairwater, Point Piper - $100 million
Fairwater, once the most expensive house in Australia, was acquired by tech-billionaire Mike Cannon-Brookes and his wife Annie in 2018. This historic property, located on Sydney Harbour, boasts a 1.12-hectare estate, making it the largest privately owned property in the area. With its rich heritage and an exchange of hands after a century of ownership by the Fairfax family, Fairwater reflects the timeless elegance that money can buy.
Edgewater, Point Piper - $95 million
In 2020, Edgewater, a waterfront property in Point Piper, sold for an impressive $95 million, securing its place as the second most expensive property ever sold in Australia. This remarkable residence, with its enviable 40-meter harbor frontage and breathtaking views of the Sydney Harbour Bridge and Opera House, embodies the epitome of luxurious living.
Elaine, Point Piper - $71 million
Elaine, another iconic property in Point Piper, finds its place on our list with a price tag of $71 million. Formerly owned by the Fairfax family since 1891, this 6986sqm estate boasts seven bedrooms, five bathrooms, and a remarkable beachfront location on Seven Shillings Beach. Atlassian co-founder and billionaire Scott Farquhar now calls this historic masterpiece his own.
La Mer, Vaucluse - $70 million
James Packer's record-breaking sale of La Mer in 2015 set the Australian house price record at the time. This six-story monolithic residence, valued at $70 million, offers a remarkable 3345sqm of luxurious living space, complete with a glassed-in garden area, home gym, cinema, and a 20-car garage. Dr Chau Chak Wing, owner of the Chinese property development company Kingold Group, is the proud owner of this architectural marvel.
Phoenix Acres, Vaucluse - $65.25 million
Phoenix Acres in Vaucluse captivates with its grandeur, featuring an impressive 81-meter water frontage and a 3731sqm parcel of land. With six bedrooms, six bathrooms, a tennis court, and resort-style pools, this residence offers luxurious amenities fit for royalty. Dr Jerry Schwartz, a renowned hotel mogul, recognized the allure of Phoenix Acres and made it his own in 2017.
Ganeden, Vaucluse - $62 million
Corporate lawyer John Landerer's mansion, Ganeden, sold for a staggering $62 million in 2022. This Vaucluse property, situated between Wentworth Road and Vaucluse Road, showcases the architectural brilliance that money can buy. With three consolidated houses forming this mansion, Ganeden stands as a testament to luxury and elegance.
Level 43/163 Castlereagh Street, Sydney - $60 million
The Boyd Residence, located in the heart of Sydney's CBD, stands as a testament to grandeur and exclusivity. This lavish penthouse, purchased for a staggering $60 million, offers unparalleled luxury, spanning across three levels. With four bedrooms, five bathrooms, and panoramic views of the city, this award-winning residence represents the pinnacle of opulence. Purchased by Ian Malouf, founder of the waste management business dial-a-dump, the Boyd Residence is a symbol of ultimate luxury.
In conclusion, Australia's real estate scene continues to redefine luxury living with these remarkable properties. Each one tells a unique story of prestige and grandeur, embodying the aspirations of those who seek the finest things in life. These residences not only break records but also inspire others to dream and reach for new heights of luxury. As the Australian real estate market evolves, we eagerly await the next marvel that will capture our imagination and redefine the concept of luxury living once again.