The record price for a house in Melbourne has been smashed for the third time in four months.

Former soft drinks distributor turned property developer Harry Stamoulis is speculated to be paying $25 million for a massive estate at 39 St Georges Road, Toorak, which includes a seven bedroom unrenovated mansion – once the family home of Opposition Leader Ted Baillieu.

The Baillieu family put the house at a trough in the prestige property market in 2008, where it eventually sold for $14.8 million to private investors the Zig Inge Group, who develop mainly retirement communities.

ANOTHER sportsman is turning his hand to a property development, this time in Brighton.

Swimmer Michael Klim is developing two luxury townhouses in the prestigious pocket of Martin Street, between St Kilda Street and the bay, in the precinct known as the Golden Mile.

JP Dixon selling agent Nick Johnstone expects about $5 million for the one townhouse that is on the market, which is opulently decorated in Balinese style.

CHANGED Foreign Investment Review Board restrictions affecting foreign ownership of real estate in Australia, has resulted in a surge of Malaysian investors, catching the attention of “The Malaysian Inside” today.

Developers in Australia, and the United Kingdom have been “actively wooing” Malaysian investors for various inner-city apartment projects, including the Lumiere Residences in Sydney.

The Australian Trade Commission says Malaysians invested $A4.9 billion in Australian property in 2008, and before the boom of international investors arrived, into 2009.

A WATERFRONT mansion in Perth's Mosman Park has smashed the record price for a home sale in Australia.

The Saunders Street home offloaded by iron ore heiress Angela Bennett, includes three buildings, a cinema, tennis court and a private jetty. The 7,567 square metre property can be subdivided.

The price breaks the $45 million record set for a home in Sydney, and the $23 million previous Perth record price, set in 2007, for a mansion in Claremont.

POP Princess Kylie Minogue is reportedly inspecting apartments in midtown Manhattan.

The Melbourne singer, and her spanish boyfriend Andres Velencoso are reportedly looking to buy in New York, in an attempt for both to boost thir profiles. Mr Velencoso is a model.

The London Mail reported an "insider" confirming the couple have been in the Manhattan market.

A LANDMARK property on the suburb border of Newport and Williamstown is expected to smash the record price paid for a home in Melbourne’s western suburbs.
 
Hocking Stuart Williamstown’s Wayne Elly is expecting up to $8 million for the Sea Gates estate at 62 The Strand, which has rear access to Yarra Street.
 
The massive 3,500 square metre property includes two historic homes -  Sea Gates and the smaller Dachet - and enjoys postcard views over Hobsons Bay to the Melbourne CBD.

FORMER Richmond Football Club president Clinton Casey has sold his Avon Court mansion, in Hawthorn, for more than $21 million - setting a new price record for Melbourne.

The Shakespeare Grove mansion included a private cinema, gymnasium, ballroom, wine cellar, two pools and seven kitchens.

The sale comes in the same month Toorak mansion Meiegunyah sold for a speculated $20 million, smashing the record price of a home in Melbourne (until then held by Malvern's Stonington mansion, at $18 million).

THE Gold Coast mansion of IT tycoon Daniel Tzvetkoff has sold for $17 million.

The Gold Coast's Bulletin Report says a local businessman has purchased the nearly-completed mega mansion in Hedges Avenue. The six-bedroom home is reported to need another $500,000 spend on renovation, and cost Mr Tzvetkoff about $28 mllion last year.

The mansion includes underground parking for ten cars and occupies four house blocks on Mermaid Beach.

JAYCO Caravans managing director Gerry Ryan is reported to have paid $18.5 million for a Toorak mansion with no tennis court, swimming pool, double garage or basement.

The Albany Road sale, which would have set a record price in Melbourne had it occurred a month ago, was concluded before a scheduled major campaign. The home was offloaded by Future Fund board member Jeffrey Browne and his wife Debbie, who are understood to be relocating to the St Kilda Road's Melburnian building.

IT was established as a place to celebrate, preserve and share the Danish culture and heritage – but now all that remains of Middle Park’s historic former Danish Club building, is its facade.
 
Victoria’s richest woman, Naomi Milgrom, has started a major renovation of the 120-year old Beaconsfield Parade mansion, which she bought off the Club for $12.5 million in an off-market deal two years ago.
 
Upon completion next year, the 2,000 square metre estate is expected to be worth about $20 million, making it the highest valued home in Middle Park and one of the most expensive in Melbourne.
 

THE eldest son of News Corporation chairman Rupert Murdoch, Lachlan Murdoch has paid $23 million for the Le Manoir mansion, in Sydney's eastern suburb of Bellevue Hill.

Last night's closed auction saw the 6-bedroom house, on a 4,000 square metre block sell for well in excess of the anticipated $15 million price.

FORMER Richmond Football club president Clinton Casey can expect to make about $16 million from the sale of his Avon Court mansion, in Melbourne's ritzy eastern suburb of Hawthorn - setting a new price record for the suburb.

The 4,645 square metre estate includes a 4-storey historic and heritage protected mansion, swimming pool and tennis court.

Mr Casey paid $5.7 million for the property in 2003 before undertaking a major renovation.

THE People’s Republic of China has emerged as the buyer of a brand new, 80 square Toorak mansion.
 
It’s speculated an education division of the Chinese government will use the new four-storey, six bedroom mansion for administrative and teaching purposes, and to accommodate ambassadors – but this could not be confirmed with the consulate, which failed to return numerous calls.

FORMER AFL Premiership player Shannon Grant is selling an investment property at 180 Beach Road in Mordialloc.
 
The modest three-bedroom, single level home, on a 653 square metre block, is expected to sell at auction next month for around $1.250 million, according to Hocking Stuart Brighton selling agents Rod Richardson and Stuart Kelso who is auctioning the property at 3:30pm on November 28.
 

A Chicago home next door to US President Barack Obama's home (pictured) has come onto the market with a price tag of $US1.85 million ($A2.2 million).

The unrenovated 17-room home at 5040 S Greenwood Avenue, in the Chicago neighbourhood of Kenwood, has been owned by Bill & Jacky Grimshaw since 1973.

The property was listed for sale in September for an unspecified price.

The Secret Service will need to clear anybody who visits the Grimshaws house, according to selling agent Matt Garrison.