Expert insightsBuyingChinese developer buys $4.55 million The Residence, Sydney in top weekend unit sale
Chinese developer buys $4.55 million The Residence, Sydney in top weekend unit sale
Jonathan ChancellorMarch 24, 2013
The most expensive apartment sold in Sydney listed at the weekend was a three-bedroom apartment at The Residence in Darlinghurst, overlooking Hyde Park.
The unit 72/14-24 College Street was sold to a Chinese property developer for $4.55 million through CBRE agent Ben Stewart.
The 232 square metre 17th floor three-bedroom, three-bathroom apartment was developer stock.
“It was a good price. There has definitely been a significant improvement in the market this year,” he told The Australian Financial Review.
Estate agents can now march into April with further confidence that vendors and buyers are on the same price page.
The strongest region was the upper north shore at 83%, where results for 35 auction were reported to APM.
The inner west was also strong at 76%, with the east at 73%.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
