In recent years, Melbourne's luxury real estate market has seen significant growth, with penthouses becoming increasingly coveted among high-end buyers. This rise in popularity is redefining luxury living in the city.
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Melbourne's Growing Penthouse Market
25 September 2024
The Penthouse Premium
The demand for penthouses is driving both their desirability and value. According to the Financial Review:
“Project marketers and valuers have tipped the average price of a Melbourne penthouse to double to $60,000 per square metre in the next few years as a growing cohort of wealthy downsizers seek secure residences offering the best views and the latest technology.”
Marshall White Sales Executive Jack Nicol also notes, “Penthouses offer the space and comfort of a home but with the added luxury of being in a prime location. They provide enhanced privacy and security, making them a highly desirable option for those seeking both convenience and exclusivity.”
Key Factors Driving the Trend
Amenities: Many penthouses come with luxury amenities such as private pools, gyms, and concierge services.
Investment Potential: High-end penthouses have shown strong capital growth, attracting both local and international investors.
Lifestyle Appeal: The combination of city convenience and resort-style living is particularly attractive to affluent professionals and empty nesters.
Market Snapshot
Marshall White's penthouse portfolio showcases opulent living in prestigious locations, offering meticulously designed interiors, panoramic city views, and exclusive amenities. Below is one current standout:
The Skyhome, 9 Porter Street, Hawthorn East—Unparalleled indoor and outdoor living areas with breathtaking panoramic vistas of the city skyline.
https://www.marshallwhite.com.au/property/the-skyhome-9-porter-street-hawthorn-east-1520031/
Recently sold –
The Penthouse, 86 Mathoura Road, Toorak - Breathtaking in scope, spectacular in scale, and unbridled in luxury with two remarkable levels of living and entertaining zones.
https://www.marshallwhite.com.au/property/the-penthouse-86-mathoura-road-toorak-1486766/
With Melbourne's global reputation on the rise, penthouses continue to captivate the luxury real estate market, offering peerless living experiences to the city's most selective buyers.
