Some areas of Australia’s residential property market have begun to slow down after years of unmatched growth. This nationwide trend, however, didn’t stop big-shot foreign buyers from stepping up and dropping millions on some of the most stellar sales in Sydney, Melbourne, and Brisbane.
Here are Australia’s best real estate deals of 2017:
This seven-bedroom, five-bathroom estate in Piper Point sold for US$55 million earlier this year. The historic residence sits on 7,000-square-meters of land above Seven Shillings Beach in Point Piper on Sydney Harbor.
Buyer Scott Farquhar is the owner of software company Atlassian, which recently surpassed its $10 billion valuation mark. Alongside his wife, banker Kim Jackson, the couple plans on turning the estate into a family residence.
Melbourne has seen exceptional activity, with a rumored five homes that traded hands for more than US$15 million. The biggest deal reportedly happened off the market between former Mirvac director Marina Darling and an unnamed buyer. Industry sources report the buyer purchased Darling’s grand 1920s home in Toorak for US$31 million.
The new sale shattered Melbourne’s previous price record of US$20.2 million set by Netflix managing director Phil Dreaver. In 2016, he shelled out the money for this contemporary Toorak mansion sold by the Besen family.
The capital of Queensland also broke its previous record for most expensive sale with an iconic three-level home on Leopard street atop Brisbane’s Kangaroo Point Cliffs. The residence occupies 71 meters of cliff-top land above the Brisbane River and boasts 1,500-square-meters of internal space.
Other features include an ensuite closet for each of the home’s five bedrooms, a commercial-grade wine cellar, teppanyaki bar, pizza oven, and Greek important Saint Lorraine marble flooring.
The record-breaking home sold for US$14.2 million, smashing Brisbane’s previous record of US$10.8 million when mining magnate Gina Rinehart bought a riverfront home in Hawthorne.
Luxury deals in 2018
Despite a cooling Australian housing market, cash-in-hand millionaires are still searching for secondary homes across the country. There are already some incredible listings on the market that could be poised to break more records in 2018.
Tennis start Pat Rafter is selling his Mediterranean-inspired home on Seaview Terrace at Sunshine Beach for US$13.9 million.
German superyacht builder Klaus Lilischkies is also selling his mega-mansion on Sovereign Islands for US$23.1 million. The luxury waterfront mansion is just three hours south of the Gold Coast and includes seven bedrooms, a bullet-proof master bedroom, 24-carat gold in the pool tiles, and a nine-square-meter wardrobe for shoes alone.