A Sydney harbour-front mansion has been sold to a Chinese-born businessman for A$53 million (US$54.3 million), setting a new property record for the city, reports said Thursday. The eight-bedroom, seven-bathroom house "Altona" in prestigious Point Piper had been on the market for several years, having been bought in 2002 for A$28 million by a former publishing executive. The Australian Financial...
Sydney Property
Sydney is Australia's most populous city and its housing sector offers investors unique opportunities with the security that comes with investing in a large and rapidly expanding market. Property prices in Sydney have increased 25 per cent in the last four years, during which many other housing markets around the world have stagnated or even gone backwards. The reason that Sydney's housing prices have...