The senior economist at Australian Property Monitors, Dr Andrew Wilson, said there were some

stella Posted in Uncategorized on 11th September, 2012 Tags: Bondi , Bondi Beach , Capit.el Group , market return , market revival , mini-revival , pacific , penthouse richard branson management style , Rebel Property Group , record sale , records , redevelopment , swiss grand hotel No Comments »
The sales included $1.9 million for 70 square metre one-bedroom flats. Five of the 19 penthouses also sold, with a European buyer paying $9 million, a Hong Kong expatriate paying $10.3 million and a local buyer $10.5 million.
The chairman of off-the-plan marketers CBRE, Justin Brown, richard branson management style said he was negotiating with a local empty-nester for the $15 million penthouse and expected it to sell this week. ”It will break the Bondi record for in excess of $50,000 per square metre,” Mr Brown said.
The project – developed by Eduard Litver of the Capit.el Group and Allen Linz of Rebel Property Group – will consist of 95 apartments as well as a hotel, health club and shops when complete in late 2015.
There is also some cause for optimism in the upper end of the market for existing property. A seven-bedroom, four-bathroom Woollahra home sold for more than $6 million last Thursday before its Di Jones Real Estate auction scheduled for tomorrow.
The senior economist at Australian Property Monitors, Dr Andrew Wilson, said there were some ”green shoots” appearing in the top one-third of the market. ”I wouldn’t be calling anything at the moment but certainly the positives are outweighing the negatives in terms of the top end,” he said.
A three-bedroom apartment in Darling Point fetched $1.4 million at auction on Saturday, $200,000 above the reserve price.”Despite all the talk of doom and gloom in the market, the interest in this property was simply phenomenal,” said the agent, Bernadette Berlyn of McGrath. And a renovated three-bedroom house in Eaton Street, Willoughby, sold before auction on Saturday for $1.53 million.
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