Australia's priciest rentals: homes listed for up to $25,000 a week

Daily Telegraph

13 hours ago

They're the homes that rent for more per year than many houses cost to buy outright.
Long-term rental properties across Sydney's coastal enclaves and inner suburbs are being listed for extreme prices of over $10,000 a week as demand for lifestyle homes ramps up.
And there is even one long-term rental advertised in Bellevue Hill for the eye watering sum of $25,000 a week.
The lofty weekly prices make for staggering yearly rental costs, with one tenant in the CBD reported to have recently forked out about $520,000 annually to live in an executive apartment.
But that pales in comparison to the annual $1.3 million required to live in the Bellevue Hill property listed for $25,000 a week.
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It's currently the country's priciest rental and details in the listing reveal it is available both unfurnished and furnished. The bond to secure the home is $100,000.
Records show the landlords bought the home on Victoria Rd in 2002 for a reported $6.8 million – equivalent in today's money to about $13 million, although the current value is likely significantly higher.
With its sweeping harbour views over Point Piper and Mosman, the five-bedroom, six-bathroom abode boasts a stately office, tennis court, pool and multiple entertaining areas.
The $25,000 a week cost contrasts Bellevue Hill's median rental price of $3,400 for houses, according to PropTrack.
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Sydney's median weekly rent is $1,071 for houses and $702 for units, according to SQM Research.
Then there is the North Bondi six-bedroom, five-bathroom home listed with a rental price of $12,000 per week with a $48,000 bond.
In the same suburb, a luxury apartment on Ramsgate Ave is listed for the same weekly amount.
These rents are well above the already staggering median rent in North Bondi of $2,300 a week for houses and $1,000 for units.
In Barangaroo, a high level apartment within exclusive tower One Sydney Harbour is currently listed for $10,000 per week with a $40,000 bond.
The four-bedroom, three-bathroom apartment listing comes with exclusive access to 24/7 concierge service, private dining and wine room, pool, spa sauna and gym.
Another unit on the 25th floor of 161 Kent St within the CBD is also listed for $10,000 a week.
Vanguarde director Travis Reeve – whose firm manages an array of pricey rentals across the CBD, including the Kent St listing – said there are usually one or two callers per week on such listings.
Mr Reeve said the Kent St home may be listed for sale at $16.5 million as a previous tenant recently moved out.
'The previous tenant was paying $10,000 per week for 12 months and he moved out about six weeks ago,' he said.
'We were going to look at re-renting it – in the current market anywhere between $8,000 and $10,000 a week.
'We are now gearing up to put it on the market for $16.5 million.'
Mr Reeve said pricey rentals have become common, especially following the completion of the Crown building in Barangaroo.
'We've set some big property prices in terms of rentals there – a three-bedroom goes from anywhere between $7,500 and $10,000 per week in Crown,' he said.
'Four bedroom units – will be anywhere between 11 and a half to 13 grand a week.'
Mr Reeve said tenants who live in these pricey rentals are often between properties, renovating or owning dual properties.
'A lot of these people that rent are trying before they are buying,' he said. 'They want something super luxurious.'