Announcement posted by Writers Who 13 Oct 2021
Ray White Lower North Shore is reporting that demand for luxury rentals is increasing with a shortage of prestige housing stock available for sale and increasing numbers of returning expats needing accommodation.
As travel restrictions ease and vaccination programmes are rolled out, those with the budget are opting to rent rather than battle the hordes of buyers competing over limited luxury listings.
A growing number of high-net worth individuals are in the market for luxury rentals, and in many cases they are happy to pay several months' rent in advance to secure the best properties.
Ray White Lower North Shore Group’s investment specialist Michelle Lucas says that owners of beautiful investment properties or second residences can do well in this market.
“We have a number of tenants who are more than happy to pay +$4000 or more per week for rental properties that have great views and space for the family, while they decide where and what they want to buy.” Ms Lucas explains.
“High net worth expats are happy to experience a suburb as a tenant for six or twelve months before committing to an area as a buyer.”
There are properties available for rent in suburbs such as Mosman, Point Piper, North Bondi, Rose Bay and Barangaroo asking for between $5,000 and $10,000 per week.
A newly listed fully furnished two-level garden apartment on Kirribilli Avenue in Kirribilli is offering its first tenants Opera House outlooks and Harbour Bridge views, lift access and double basement parking.
“It’s more like a freestanding prestige home than an apartment,” Ms Lucas explains, “It was recently shortlisted in the Interior Design Awards of Australia for style and furnishings.”
Landscaped outdoor living spaces spill out from each level complete with a built-in barbeque, outdoor gas fireplace, spa and synthetic turfed level lawn. Inside you’ll find a home theatre, marble kitchen with Wolf ovens and Subzero refrigerators, a basement level cellar and tasting room.
“The bedroom suites are reminiscent of a five star hotel, each of the three king bedrooms open to a luxe bathroom sanctuary complete with steel framed architectural doors and marble accents. Two of the three ensuite bathrooms have spa-like rectangular timber bath tubs.”
For more information or to arrange an inspection of 1/106 Kirribilli Avenue, Kirribilli, please contact Michelle Lucas 0403 830 538.