Hotel developer Dr Jerry Schwartz and his wife Debbie are making a significant upgrade from their Vaucluse waterfront home, Loch Maree for close to $67 million.
Don’t expect predictions of a property market slowdown in 2018 to impact the trophy market. Expectations for the top end are for another bullish year and even another national house price record to top this year’s $71 million high.
As celebrity-watchers look to Palm Beach to capture Sydney’s well-heeled at play, they might do better to turn their gaze to lesser-known beachfront escapes.
Suburb records were set across Sydney’s prestige neighbourhoods, from Point Piper to Cronulla, Newtown, Strathfield, Drummoyne, Hunters Hill and Mount Druitt.
Singaporean tycoon Chio Kiat Ow has clocked up the third highest house price in Australia for close to $67 million.
Sydney’s trophy home market has recorded its biggest year to date with more than half a billion dollars in sales in the top 20 sales alone.
Last minute settlements on some of this year’s biggest deals have revealed an interesting line-up of buyers, including ASX chief executive Dominic Stevens, who is set to upgrade from one Bellevue Hill home to another after his wife Emma paid more than $21 million for the Belhaven trophy home.
The beachfront home is currently undergoing a major renovation.
Here’s yet another of our favourite houses from what’s been a stellar year in prestige property.
Palm Beach has clocked up its highest sale in two years thanks to a more than $12 million purchase by Silvana Marshall, wife of lawyer Richard Marshall.