Penthouse apartments offer amazing views, luxurious living and fantastic locations in the inner-city. Demand for these luxurious apartments is clearly on the rise, particularly in Australia where the prestige property market is booming.
Real estate agency CBRE holds the record for the highest sale: two penthouses sold as one apartment in Bondi for $21 million. The $21 million purchase was made by fund manager Will Vicars.
According to reports, the high demand from Asian buyers has helped push the prices of the Australian prestige property market higher and higher.
Managing Director of CBRE David Milton said that the company has several clients looking to buy in the $15 million range.
Developers are reacting to demand by adding more penthouses in their new apartment blocks. In Central Park, for example, the Sky apartment has thirty eight penthouses instead of the usual one or two.