The most expensive house in Australia costs $100 million. The property, which belongs to tech magnate Mike Cannon was purchased in 2018 setting a record from the previous $70 million house belonging to property developer Dr. Chau Chak.
The list (sourced from Domain) of the most expensive houses in Sydney contains most of the nicest houses in Sydney costing between $15 million and $100 million.
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La Mer, Vaucluse
Chinese property developer, Dr. Chau Chak bought this property in 2015 making it the most expensive property in Sydney at the time. The design of the house is an update of the Guilford by Alex Tzannes. Before Dr. Chau, the home belonged to James Packer. This is not only among the most expensive homes in Sydney, Australia but also the costliest residential property, having been bought at $70 million. According to Dr. Chau, he did not hesitate or negotiate when he paid for the house.
Mandalay, Point Piper
The Mandalay home might have found its way into this list thanks to its large size and the scenic Harbor views from the house. The $39.9 million home belongs to Philip Dong Fang Lee, a road construction developer. Philip bought the home from Bill Well, who had bought the European style home in 2014 at $20 million. When Bill Well bought the house, it was among the nicest houses in Sydney. In less than a decade, the house has appreciated by almost 100 percent.
Villa del Mare, Point Piper
The six-bedroom eight-bathroom house belongs to Chinese mogul Xu Jiayin. It is only a few meters from the Mandalay, Point Pipers placing the two almost on the same price range – this property cost Xu $39 million. The Mediterranean style of the property makes it a top-tier home that is exemplary of Australia’s architectural might (to learn about some of the major construction projects underway in the country, click read more).
Gladswood Gardens, Double Bay
Owned by real estate giant Lee Seng Huang, the Gladswood Gardens is a waterfront mansion that exudes the class that deserves its $38 million price. The home’s former owner Andrew Roberts paid $10.1 million for the site before the development in 2005. Lee Seng Huang and his wife enjoy the home which sits on 1145 sq meters. It sports a mooring, private jetty, an infinity pool, and a boat store. Its design is an inspiration from the work of the great Frank Lloyd Wright.
Leura, Bellevue Hill
This is one of the oldest most expensive houses in Sydney. The house was built in the 1890s in the Federation Queen Anne Style. The original owner was Tom Knox of the Dalgety Stock and Station Agency. Today, the home is owned by an Australian Chinese who bought it from Ken Allen and his wife, Christine. The home sits on 4260 square meters of land and features eight bathrooms in eight bedrooms.
Wolseley Road, Point Piper
The $28 million home belongs to Qingling Wang, a software specialist. After the purchase, the former owner of the Wolseley Road home invested $12.85 million from the sale money another house owned by investment banker John Grant.
Indah, Rose Bay
Alwyn Heong, New York-based financial manager, owned the Indah since 2006. He spent $6 million on the renovation to make it more contemporary, more functional, and open it up to great views. It was purchased by Georgina Black, an ex-pat UK Barrister at $27 million. After the renovations, the pool was repositioned and the living area was opened up to the great views of the Harbour Bridge. This home features five bedrooms.
This home was built in the 1970s. Today, it is owned by Jerry Schwarz, a cosmetic surgeon turned hotelier. Schwarz and his wife are the third owners of the house, which features a Michael Dysart design. The $24 million house originally belonged to Gordon Barton, IPEC Founder, who sold it at $4.75 in 1993 to Duncan Savile and Julie.
Bulwarra, Hunters Hill
Bulwarra belonged to actress Cate Blanchett. When the couple announced they wanted to sell the home, it took them only three days. As one of the most expensive homes in Sydney, Australia, this home was scooped by Chinese tycoons with properties in Point Piper. The couple purchased the house at $10 million and invested a lot in it. With so many buyers interested in the property, it is estimated that it cost about $20 million.
Wunulla Road, Point Piper
This is the cheapest of the expensive houses in Sydney on this list – at least the cheapest for the millionaires with money to spend. The Point Piper waterfront home now belongs to Dick Enthoven, a South African billionaire. With a net worth of roughly $1.1 billion, the $18 million home was an easy purchase for Dick. The home comes in a class of its own with a jetty, ramp, cinema, pool, and elevator access. It also features alfresco terraces.
If you need to buy the most expensive property in Sydney, you need money in excess of $100 million. However, even homes between $15 million and $50 million are still worth a mention. Point Piper has some of the most expensive homes. These homes have great views, modern designs even for those with vintage exteriors, and they are in prime locations. Chinese tycoons own most of the home in Point Piper. Other tycoons in other countries have also come in. With each purchase, the biggest houses in Sydney become even more expensive.