Atlassian founders Mike Cannon-Brookes and Scott Farquhar made history this year with their neighbouring Point Piper purchases.
Farquhar’s mansion, Fairwater was estimated to have sold for $100 million, while Cannon-Brooke’s mansion, Elayne was estimated to be closer to $70 million.
They’re stunning numbers, but there are some markets where transactions like this happen regularly.
Real estate group Knight Frank describes these markets as “ultra-prime” markets, or markets where transactions of at least $US25 million have occurred three times a year for the last three years.
This city is one the world’s leading ultra-prime markets, although concerns over Brexit have seen the number of sales slump to 48 over the last three years.The average price of these sales was $US42.5 million.
The city that never sleeps tops the Knight Frank City Wealth Index, with 39 transactions in the last three years falling into ultra-prime territory.
Beating out London, the average ultra-prime transaction over the last three years in Hong Kong was for $US54 million.
It also saw a staggering 47 transactions in the 12 months to August 2018.
City of stars, Los Angeles has seen its ultra-prime market grow significantly in recent years. The top spot has swapped between regions inside the Los Angeles city and Beverly Hills.
Sydney’s Eastern Suburbs are the stomping ground of several multi-millionaires and are the most popular spot for eye-watering property transactions.
Most properties are large and have waterfront views and private swimming pools.
Hit 2018 film, Crazy Rich Asians was set in Singapore, so the financial hub unsurprisingly makes the list. However it also sees the smallest number of transactions, partly due to regulatory measures following the GFC.
Considered a growing market, the high-transacting properties in the cool beach-side city are often penthouses.
The city of lights is also home to multi-million dollar mansions. They’re often houses with gardens in the prime 6th and 7th Arondissements.
Malibu appeals to those looking for a second home and has seen consistent growth in ultra-prime transactions. One of the more recent transactions sold for more than $US100 million, with an average price of $US59 million.
When you think of luxury you probably think of the Caribbean. Here, destinations like the Bahamas, Barbados and St Barts dominate when it comes to major transactions.
This is another second-home market, although its rate of transaction is close to many city markets, with an average five ultra-prime transactions annually over the last three years.
Cannes, St Tropez and Cap d’Antibes are all located within the Cote D’Azur, so it’s not surprising the French destination is a luxury hotspot.
Saint Tropez is the most popular spot, with many properties offering gated areas and privacy along the waterfront.
It’s $US50,000 per square metre in Monaco, although the size of the tiny principality means transacting large volumes of ultra-prime real estate is difficult.
The Alps (St Moritz, Gstaad and Courchevel)
Perfect for a Christmas spent snowboarding, the resort towns of St Moritz, Gstaad and Courchevel attract the world’s billionaires. Properties in St Moritz must be bought as a primary residence, while those in Gstaad often come with a lift, pool and staff accommodation.
Homes in Aspen are often located on larger plots of land – 200 acres or more for those heading further out of town. Traditionally known for its ski slopes, Aspen is also growing in popularity for its Institute of Ideas Festival and its Music and Food & Wine Festival.
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