Australia’s Most Expensive Apartment Sells for $25 Million Dollars

Australia’s Most Expensive Apartment Sells for $25 Million Dollars

Apartments in Melbourne can range in pricing from affordable one bedroom flats to $25 million dollars for the entire 100th floor in Southbank, in the Southern Hemisphere’s yet-to-be tallest building. Australia 108, which is the name of the skyscraper that is hosting several different property for sale is set to be completely finished by 2019.

The goal of this luxurious property investment is to eventually sell all 1,105 upscale, extravagant apartments. CBRE managing director of residential projects Andrew Leoncelli told Domain “there was high interest in the penthouse apartment and three local buyers had expressed interest.” Ultimately, a Chinese Businessman settled on the extreme price of twenty-five million dollars.

However, Leoncelli states that “”Twenty-five million’s a lot of money but for 800 square metres it’s very reasonable value for money.” At 320 metres above Melbourne’s Central Business District, the owner of this futuristic apartment will be able to sit on his private rooftop courtyard in peace and tranquility. A private glass elevator will take it’s Southbank, Melbourne owners from the 98th floor to the penthouse apartment.

Compared to Sydney and other major Australian metropolises, apartments in Melbourne are becoming extremely elite as homeowners are looking more and more for a property investment. The property market in Melbourne has been extremely competitive when you look at all of the high rise apartment buildings. When completed, Australia 108 would top our in height compared to it’s neighboring giants.

property Southbank, Melbourne

Apartments in Southbank are highly sought after. Image: Yarra River, Melbourne by Rob Deutscher under the CC BY-2.0 License

Property Market in Melbourne

Apartments in Melbourne, and especially in Southbank are highly sought after for a property investment. As an inner urban neighborhood only 1 km south of Melbourne’s Central Business District, it’s no surprise that business men and women from all over the world are attracted to it’s superb appeal. The property market in Melbourne is on the rise due to the city┬┤s people, lifestyle and homes. The city is buzzing with young professionals who love to immerse themselves in boutique shopping, hip restaurants and theater & arts.

In addition, property for sale in Melbourne can be expressed as a stylish blend of new apartment complexes as well as older homes with years of charm and history. The property market is on the rise in Melbourne, and more specifically so Southbank where twenty-five million dollars will buy you a 360 view of the city in 2019’s tallest building. The search for property investments are on the rise as more and more dreamers move to this elite city.

Most people searching for property for sale are looking to apartments in Melbourne, but only one lucky buyer has stepped forth to Australia 108’s penthouse apartment. With various property for sale, the Chinese businessman who purchased this unit will well reap the rewards and benefits of living 320 metres above Melbourne’s Central Business District for years to come. With a multi-million dollar view, twenty-five million dollars seems like an appropriate price tag for this dream apartment. Creating luxurious properties like these proves that the property market in Melbourne is on the rise.

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