Top features in Victoria's $10m luxury mansions
A basement wellness retreat, voice-activated tech and a garage big enough for a supercar collection, that's just the entry point for Victoria's $10m+ prestige club.
Buyers' agents and high-end selling agents say homes that crack eight figures are no longer just about postcode or square footage, they're about polish, privacy and absolute convenience.
Industry Insider Property director and prestige buyers agent Andrew Date recently inspected a $20m Toorak fortress that ticked every box: two pools (one for laps, one for lounging), a fully automated home system, and a wellness zone in the basement.
'There was a pilates studio, sauna, steam room, the works,' Mr Date said.
'These homes are smart, secure and stacked with lifestyle features.'
Kay & Burton director Darren Lewenberg said prestige buyers were increasingly turning away from renovation projects, no matter how grand, in favour of perfectly finished homes.
'They'll pay millions more just to avoid dealing with builders, permits and delays,' Mr Lewenberg said.
'Brand new or fully renovated, that's where the money is going.'
And they're ruthlessly detail-focused.
Mr Lewenberg said if the floor plan doesn't work, or the build quality isn't up to scratch, they'll walk.
'These buyers are globally aware, well-travelled and incredibly specific,' he said.
'They want quality that holds value.'
Land is still the foundation of a prestige purchase, especially in Toorak, Hawthorn or South Yarra.
Flat, well-oriented blocks close to schools and lifestyle precincts remain top of the wishlist.
But the finish matters too.
RT Edgar director Jeremy Fox said prestige homes that seamlessly blend heritage with high-end modern design were a major drawcard.
'Period homes with timeless architecture that have been brought into the modern era, they really resonate,' Mr Fox said.
On the Mornington Peninsula, it's all about scale, views and retreat-style privacy.
Buyers in Portsea, Sorrento and Red Hill want vineyard backdrops, sweeping water views and space to unwind — with all the luxuries of a city mansion.
Most of the biggest sales aren't public either.
Mr Lewenberg said many prestige deals above $10m now happen off-market, between trusted networks, with a recent $33m South Yarra mansion was never listed online.
'They're not just buying a home,' Mr Lewenberg said.
'They're buying time, certainty and status.
'And for that, buyers expect it all, bar, basement, butler's pantry and biometric entry, delivered upfront, no compromises.'
Melb's $10m+ Property Buyer Checklist
1. Wellness retreat features
– Sauna, steam room, pilates studio, and dedicated wellness zones in the basement.
2. Smart home tech and security
– Voice-activated systems, biometric entry, advanced surveillance, and full automation.
3. No reno required
– Fully renovated or brand-new builds only. Buyers are paying a premium to avoid permits, tradies, and delays.
4. Trophy garage space
– Room for supercar collections, often underground and climate-controlled.
5. Entertainer-grade extras
– Bar, butler's pantry, private cinema, lift, pool, and alfresco areas, all delivered upfront, no compromises.
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