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Written by Marc Pallisco
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Tuesday, 25 May 2010 00:41 |
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 AUSTRALIA's prestige real estate market seems to be going from strength to strength, with an overseas-based investor paying close to $30 million for a villa style mansion in Sydney's ritzy Vaucluse.
The six-bedroom home was marketed by Ray White Real Estate's Prestige Sales Michael Finger, who said five parties competed for the property, which has Sydney Harbour views.
The sale price surpasses the 2010 record held when the former Toorak estate of Diana Baillieu, in Melbourne, sold to a property developer for $25 million - or about $10 million more than the price it sold for, a year earlier.
The Sydney-based Mr Finger told The Australian the last seven months have been the busiest in his 39 years selling real estate.
A record was set for Australia's highest priced home late last year, when a Mosman Park mansion in Perth sold for $57.5 million.
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