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Record price for Sydney home

Record price for Sydney home

Sales activity across the Sydney real estate market has been slowing down for several months now but a new listing is expected to cause a lot of interest among mega rich property investors.

The home in question, Called Altona, is a spectacular 8 bedroom mansion located in the exclusive harbour neighbourhood of Point Piper and comes with fantastic waterfront views.

The magnificent property is on sale for a record breaking $60 million a price that selling agent Bill Malouf is confident will be paid despite a recent slump in the price of luxury residences throughout the Sydney real estate arena.

Other real estate experts in the locale believe the price is far too high in the current climate and suspect a price reduction will be needed to attract potential purchasers and that the eventual sale price will be much lower.

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Published: 26-May-11

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