Australia’s housing sector has proven to be exceptionally resilient during the coronavirus pandemic, with each of the country’s capital cities seeing an annual rise in property prices. Last month, the Australian Bureau of Statistics reported a 3% increase in residential property prices in the December quarter 2020, led by Sydney (at 3%) and Melbourne (3.4%).
In this week’s look at international real estate markets worldwide, I compared homes in Victoria’s capital of Melbourne against similarly priced properties in Hong Kong and New York City. From a timeless estate in the Toorak neighborhood to a designer-done home on the coast of Deep Water Bay, here’s a closer look at what about $12 million buys in Australia, Hong Kong and Manhattan.
Lenox Hill, Manhattan, New York City | $12.75 million
A sophisticated setting on 65th Street in Manhattan, this Lenox Hill residence comes with designer credibility thanks to a meticulous renovation by Trish Reger of Manhattan-based Reger Designs. The three-bedroom apartment takes in tree-top views of Park Avenue from its second-story perch.
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Features: The open-concept floorplan is full of custom details, including two gas fireplaces decorated in French limestone, modern fixtures, textured wall treatments and custom white oak doors and floors. The primary bedroom, which has park-facing windows, has been enhanced with paneled walls and an updated bathroom. A sitting room with another full bathroom sits adjacent.
Other perks: In addition to an open-concept living/dining room, a formal library and a media room, the residence opens to a private outdoor terrace shaded by mature trees. The 15-story pre-war building, designed by J.E.R. Carpenter and built in 1931, also has such building amenities as doorman and concierge services, a fitness center and central laundry.
Shouson Hill, Hong Kong | $12.62 million (HKD 98 million)
Located in Shouson Hill, an affluent hillside neighborhood on Hong Kong Island, this designer-done apartment comes with a unique perk in the dense urban community: a large wraparound terrace garden with an outdoor fireplace and space for dining.
Features: Large windows and oversized sliding glass doors bring garden views inside the four-bedroom, two-bedroom home. Inside, dark polished concrete details and dark hardwood floors create visual contrast against the home’s cream-colored walls. The step-down living and dining rooms have direct access to the terrace.
Other perks: A total of four bedrooms and two bathrooms includes a decadent primary suite with a marble-clad bathroom and a soaking tub. The open-concept kitchen is anchored by an island/bar with a waterfall edge.
Toorak, Melbourne, Victoria, Australia | $12.45 million (AUD 15.95 million)
Overlooking the Yarra River on Edzell Avenue, a coveted stretch in Melbourne’s Toorak neighborhood, this 1930s gem is a stellar example of the Deco style. Subtle curves, clean lines and white-painted brickwork lend a timeless quality to the five-bedroom home, which retains many of its original fixtures and fittings.
Features: Entered through lacy iron gates, the updated and enhanced floor plan features a principal living area on the main floor consisting of various living and entertaining rooms. Additional living and entertaining spaces lie on the second floor and include a subdued bar room that flows into a large communal space. A total of five bedrooms includes a primary suite on the main floor.
Other perks: With a private jetty, a pontoon and a boatshed, the Edzell Avenue home is in prime position for enjoying the delights of the Yarra River. The property also features a large grass field and upper balconies that take in the river.
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