Real estate highlights: modernizing the Australian luxury market

Over the past week, the Australian luxury real estate market welcomed 21 new upscale listings worth approximately A$140 million.

Among these luxury properties, the most notable were the ones with some truly unique features, including a home in the Gold Coast sovereign islands that boasts its own casino.

The Sovereign Islands are a group of small islands within the suburb of Paradise Point on the Gold Coast. Over the past 12 months, the exclusive suburb has seen 42 percent annual growth, with a median home price of A$1.4 million.

Kept by Ivy Wu and Isaac Kim of Ivy Realty Gold Coast, this waterfront property with countless luxury features has a asking price of A$20 million. The stately home is housed in a twin sized building and enjoys easy access to the sheltered waters between South Stradbroke Island and the Pacific Ocean.

46-48 Royal Albert Crescent, Dominion Islands | Source: Ivy Wu and Isaac Kim from Ivy Realty Gold Coast

One hour north of Sovereign Waters, in Indooroopilly, offers a rare opportunity to call in a stunning home inspired by art galleries. Jason Adcock of Adcock Prestige lists this home for sale by bidding, and the lucky winner then has the option to purchase the custom built home and land package, or demolish the existing property and build their own design.

Indooroopilly is a riverside suburb in Brisbane with a median home price of A$1.4 million and has seen 41 per cent annual growth over the past 12 months.

45 Glencairn Avenue, Endurobi
45 Glencairn Avenue, Endurobi | Source: Jason Adoc from Adcock Prestige

Down in Victoria, one of the two listings that hit the market last week is this one-of-a-kind home converted into a church in the blue. The home is located in the vibrant inner Melbourne suburb of Fitzroy, which has an average home price of A$1.5 million with average annual price growth of 4 per cent.

An absolutely gorgeous residential conversion that combines charming historic character with massive space, exquisite architectural features and grand period details. Arch Straver from Nelson Alexander brings this property to market with a price guide of over A$6 million.

1/124 Napier Street, Fitzroy
1/124 Napier Street, Fitzroy | Source: Arch Straver from Nelson Alexander

Although no properties from Western Australia appeared on the luxury goods market this week, the state continues to post impressive growth. Currently, it shows no signs of being affected by last week’s RBA rate hike, particularly in the capital’s western suburbs, says Pauline Firmanis, director of sales at Ray White Dalkeith Claremont.

I don’t really see that there will be much of an impact [from the RBA’s rate increase] In Perth especially [in] Western suburbs [like] Mount Claremont. Perth is perhaps one of the most affordable cities in Australia, and we do exactly the same on a smaller scale

It’s the western suburbs of Perth that Firmanis is best known for, and having been selling homes in the area for the past five years, has seen its popularity grow to new heights.

Mount Claremont is a great suburb, and is now being discovered by a much younger population. So that has led to a 40 percent increase in prices in the past five years. What attracts so many young demographics to this suburb is that it is a great entry level to the western suburbs. It offers exactly the same attractions as other more expensive surrounding suburbs, such as proximity to elite schools, close to the beach, cafes, restaurants and you will get more value for money.

Before she sold homes in the affluent western suburbs of Perth, Firmanis was traveling and working abroad in a variety of different roles. It is this mundane and multicultural experience, along with her ability to speak Greek and Spanish, that helps her sell real estate abroad.

Currently, it has two amazing properties available on the Greek island of Mykonos, which shows that it is always an attractive investment opportunity for the rich and famous.

Mykonos in particular will always be a strong and resilient market in Greece. In Mykonos, it attracts all the wealthy cargo tycoons, attracts movie stars, and attracts international airline crowds. Mykonos offers great accommodation, great restaurants, beaches, and has an international airport, so it will always attract international investors and buyers. Also, the return on investments there from rentals ranges from eight to 12 percent, which is a really good return.

What attracts many international investors in Greece now is that in 2013 they introduced the Golden Visa, which allows anyone who invests in Greece, spending more than 250 thousand euros to automatically obtain a five-year visa, which can be renewed at the end of the five years. This attracts a lot of buyers as well.

The first of the two villas represented by Fermanis is Lia Villa Beach, which is located 500 meters from Lia Beach and has a asking price of 4.3 million euros, approximately 6.4 million Australian dollars.

It is located on a plot of 5000 square meters, the living spaces are about 1000 square meters. It offers five en-suite suites, three independent apartments, a swimming pool, a large entertainment area and a truly charming little orthodox church.

La Villa Beach | Source: Pauline Firmanis

The second show is Villa Hurmuses, which Vermanes explains has been voted one of the 20 best villas in Europe, and featured in the popular Hollywood movie. My huge Greek wedding.

this is [villa] Within walking distance of Mykonos Town as well as to the beach. It sleeps 10 people, so it has five en suite bathrooms on this property with a swimming pool and recreation area.

This stunning property is expected to sell for 3.5 million euros, or approximately 5.3 million Australian dollars.

Villa Hermes
Villa Hermes | Source: Pauline Firmanis

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