Spring countdown: Big deals in Sydney’s east highlight prestige market strength, says Malouf

Two big deals in Sydney’s east highlight the prestige market’s continuing strength as the prime spring sales season looms, says a leading agent.

The sales by Highland Double Bay principal David Malouf totaling more than $34m include a multi-storey modern home at 50 Kambala Rd, Bellevue Hill for circa $22 million — double what it last traded for two years ago — and 2/1 St Mervyns Av , Point Piper — the last remaining harborside residence in the brand new ‘One Point Piper’ development, for circa $12 million.

“We were overwhelmed with interest for both of these prized properties, with many buyers lured away by the desirable location, pristine design and added income potential,” Malouf said.

MORE:

Double Bay Chinese restaurant sells for $9.7m

Potts Point mansion ‘Oakleigh’ goes up for auction

“These sales are just another example of the underlying strength of the prestige market

which continues to remain extremely strong.”

The 50 Kambala Road property, which records show traded for $11m in 2020 — was bought by Canberra developer Zhenglian Wang.

It features five bedrooms and four bathrooms with a huge backyard with an outdoor fireplace and heated pool.

Part of a boutique collection of only three deluxe residences by the esteemed K2 Property

Group, 2/1 St Mervyns Ave comprises four bedrooms and expansive open plan living zones the showcase the architectural detail and natural surroundings.

Malouf says while some believe the market is cooling at the moment, Highland Double

Bay Malouf is seeing demand for top-tier prestige property to continue to remain fierce.

“To have facilitated not one, but two high-end sales in a matter of weeks, really underpins

the unprecedented show of market confidence among Sydney’s prestige property sector,” Malouf said.

“Results like these show the strength of our database as Sydney’s leading prestige agency

and are a testament to our depth of experience in the Sydney top end marketplace.”

Originally published as Spring countdown: Big deals in Sydney’s east highlight prestige market strength, says Malouf

Read related topics:sydney

Leave a Comment