Sydney plays host to some of the most expensive homes only the wealthiest of the rich can imagine. With each record-breaking sale, the eastern suburbs of Sydney take the top spot on the list of most expensive properties.
With these Sydney homes drawing more attention from the rich and famous, they sell for incredibly high prices. In recent years, residential properties sold for up to $140 million.
Here are the top five most expensive properties in Sydney.
- One Sydney Harbour, Sydney, $140 Million
This lavish penthouse is atop a gleaming new apartment building in Sydney. The property broke the previous record for the most expensive property in Australia.
A local buyer bought the premier penthouse with its sub-penthouse for $140 million in 2019. The sale was off-the-plan, with the owner expected to occupy it as their primary residence.
The apartment in the posh Barangaroo neighbourhood offers unrivalled views of Sydney Harbour and Darling Harbour.
Pritzker Prize-winning architect Renzo Piano created this property which also offers a beautiful view of the Blue Mountains in the distance.
- Fairwater, Point Piper, $100 million
Mike Cannon-Brookes, a tech billionaire, and his wife, Annie, purchased the most expensive home in Australia in 2018. The executors of the late Lady Fairfax’s estate sold the home, one of Australia’s most significant heritage houses, for $100 million, ending more than a century of Fairfax family ownership.
- Edgewater, Point Piper, $95 million
Edgewater, a property on Wolseley Road in Point Piper, has expansive views of the Bay Bridge and Opera House from its 40 meters of harbour frontage. Located in one of Point Piper’s most coveted areas, the 1800 square meters home features a tennis court on the waterfront and a deepwater jetty.
An Australian-based buyer spent $95 million on this spectacular Sydney waterfront property in 2020.
- Elaine, Point Piper, $71 million
Elaine, located on Seven Shillings Beach, spreads across 6,968 square meters. The Fairfax family owned the property at Point Piper for 126 years until it was sold to millionaire Scott Farquhar in 2017 for $71 million.
Regarded as a landmark in Sidney Habour, Elaine is one of the relatively few privately owned harbourfront properties. The three-story estate includes sandstone walls and paths, five-century-old trees, a grass tennis court, and lawns sloping to the beach.
- La Mer, Vaucluse, $70 million
La Mer has a six-bedroom main house, two separate staff quarters, a home gym, a 20-seat cinema, an elevator, and an underground garage with 20 parking spaces.
To construct his matrimonial family home, Mr Packer purchased the Wentworth Road property from Manoc Developments in 2009. The vast, six-story home occupies 3345 square meters and has views of Sydney Harbor. The home’s renovation cost Mr Packer $40 million over three years. However, he later gave it up after divorcing his wife.
Mr Packer sold La Mer to Dr Chau Chak Wing, the owner of Kingold Group, in 2015, for a staggering $70 million. According to reports, the sum only paid for Mr Packer’s purchase and the extravagant three-year renovation of the property.
Sydney’s priciest homes are a never-ending collection of architectural masterpieces, and these homes are far beyond the average Australian’s price range. If you wish to know what your property is worth today, book in an appraisal with an experienced Sydney-based property valuer.
