5 of the most expensive penthouses in Australia

Penthouses having been making a return to the market in recent months thanks to the growing popularity of high-rise living.

“People who previously would have opted for a house are now happy to live in an apartment. There’s a changing sentiment. Money is shifting from established homes into larger apartments,” MAB Corporation’s general manager for residential David Allt-Graham, told the AFR.

Earlier this year, the penthouse of the Australia 108 building – soon to be the tallest building in the Southern Hemisphere – set a new national property price record selling for $25 million.

The purchase made it the most expensive apartment ever sold in Australia, taking the crown from the prestigious Pacific Bondi Beach apartment which sold for $21 million last November.

“For the last 10 years we’ve not felt there was a burning need for people in that realm to come out and buy bespoke penthouses,” Mirvac’s Head of Residential John Carfi told the AFR.

“For the person who owns the top-floor apartment… it’s probably the biggest asset they’ve got. For a penthouse buyer, it’s one of the things you own. It’s all relative.”

James Packer’s multi-story penthouse is slated to be the next big thing, with rumours of a $100 million price tag attached to the waterfront property.

Here’s a look at some of the most expensive penthouses in Australia.

1. Then Australia 108 penthouse was sold for a record breaking $25 million. It spans across 750 square metres and stands 319 metres above the Southbank promenade, offering 360 degree views of the city.

Photo: Australia 108.

2. The Pacific Bondi Beach penthouse was the most expensive penthouse last year selling for $21 million. The two-storey apartment, designed by Burley Katon Halliday, has four bedrooms, an internal lift, a vast main bedroom with a spa and a gym, and 40 metres of Bondi Beach frontage.

Photo: The Pacific Bondi Beach.

3. James Packer's proposed $100m Barangaroo Penthouse may be Australia's most expensive property yet. The two-storey penthouse have a prime position on Sydney Harbour and is rumoured to attract a nine-price tag, smashing all property sales in Australia.

Photo: Lend Lease's latest artist's impression of Barangaroo.

4. The $17 million sale of The Residence penthouse on Sydney's Hyde Park was purchased by an offshore Chinese investor. The luxury residence comes with its own personal rooftop pool including a 270-degree view of the city and harbour.

The Residence. Photo: Excelbm.com.au

5. What was once a restaurant with spectacular Sydney Harbour views is now being transformed into a luxury penthouse apartment. The luxury property was previously Lebanese restaurant Cadmus and was expected to come with a $40 million price tag making it one of the country’s most expensive apartments.

Photo: Mark Metcalfe/Getty Images.

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