See the Melbourne waterfront house that’s on the market for $50 MILLION in Brighton Victoria
>
Check out the Bayside house in Melbourne with a $50 MILLION price tag as the financial expert says it’s proof ‘the top one percent’ aren’t worried about rising interest rates and living costs
- Melbourne waterfront home with pool, tennis court is up for grabs for $50 million
- The three bedroom property has had two owners for over a century, last sold in 1971
- Price tag shows that one percent of the real estate market is not worried about interest rates
<!–
<!–
<!–<!–
<!–
<!–
<!–
A home for sale with a massive $50 million price tag has increased in value 240 times since it was last sold in 1971, as a financial expert says proves that worrying about the cost of living doesn’t cover the cost of living. ‘the top one percent’.
Property market reporter Chris Kohler shared photos on social media of the “rather large” 4,500 sq ft property on the waterfront in Melbourne’s Brighton on Wednesday.
He said the “rare” price tag for the three-bedroom house with a pool, tennis court and housekeeper’s cottage shows how the top end of the market isn’t worried about grim economic news about interest rates and inflation.
The house at 16 Moule Avenue in Brighton (pictured), which has had two owners spanning a century, sold for $205,000 in 1971
“This will be the third time this year that a Melbourne property has been sold for $50 million or more,” the 9 News reporter said (pictured)
“This is the third time this year that a Melbourne property has been sold for $50 million or more,” the 9 News reporter said.
“So it seems that the top 1% of the market, the 1% in real estate, doesn’t care about the things everyone else is.
‘Rising interest rates and the cost of living crunch.’
The purchase comes after two Toorak properties were sold last winter for $80 million and $75 million respectively.
The $80 million house in Toorak was captured by stake.com developer Ed Craven, breaking the city’s house price record.
The Brighton house at 16 Moule Avenue has had two owners in a century and was last sold in 1971 for $205,000.
Images of the property showed a large backyard overlooking the bay, with manicured lawns and an old lamppost near a landscaped yard.
Interior images of the house called ‘Teychel’ revealed stately doors with a grandfather clock and brightly colored carpets in the hallway.
The late Judith Terry’s late estate is presented as an opportunity to renovate and expand.
Kay & Burton director Ross Savas, who oversees the sale, said the house is an “iconic once-in-a-generation opportunity to develop a lifestyle like no other.”
The ‘iconic once-in-a-generation opportunity’ is up for grabs at $50 million. Pictured, the beach house at 16 Moule Avenue Brighton
“The local and national market will no doubt be keeping a close eye on this groundbreaking offering, but it will undoubtedly attract great interest from all over the world due to its importance and absolute beachfront location,” said Mr Savas in a statement.
The house has ornate mantelpieces, a marble bathroom and a French-inspired sitting room, along with a boat shed and a housekeeper’s cottage.
Social media users commented on Kohler’s online post by complaining with him about how little the top of the market cared about the economic concerns of much of the population.
Social media users took to Kohler’s online post (pictured), with some joining him and complaining about how little the top of the market cared about the economic concerns of much of the population
“The one percent in real estate isn’t worried about the things everyone is raising interest rates and the cost of living” – YOU DON’T SAY. Makes me so angry,” said one commenter.
“I really thought for $50 million it would be nicer/more impressive,” commented another person.
“About 60 times the annual wage in 1971. More than 700 times the annual wage today,” added another.
‘Absolutely insane that price?? but the house looks cute,” said another.