Bondi Big Bucks

The Bondi luxury living apartments at Bondi Beach in Sydney NSW pic by Andy Solo

I was forbidden entrance to a Bondi Beach property on Sunday.

“Do you have an appointment with an agent?”, inquired one of the ridiculously-gorgeous, perfectly-manicured, tight-black-dressed property hostesses.

Um. “No”.

“Are you just sticky beaking”? (Insert mild head tilt and charming smile).

Um. “Yes”.

I was at the grand opening of the Pacific Bondi - our new megalopolis. Unfortunately I can’t tell you much about it, as they wouldn’t let me in.

Now I’m not rich. But I could be soon. And though my preference is for glorious art deco gems, I’m not opposed to these new developments (am I sounding sufficiently blasé)?

And when I’m ready to bathe in nothing but Perrier water, I’ll be handing over my millions to the Toga Group on Hall St. They welcomed me in, schmoozed me and made me feel like the cosmopolitan buzz of their new development Boheme would be my perfect place to live and shop. And I was wearing well-worn thongs at the time.

So who is moving in to Pacific Bondi in 2015-2016?

In terms of penthouses, a European paid $9M, a Hong Kong expat paid $10.3M, a local buyer $10.5M and the $15M pad is expected to sell this week to a local empty-nester. More from the SMH article here.

With at least 30% of the units expected to be sold to investors, weekly rents are estimated at about $600-700 for studios, $850-1,200 for 1-bedders and $950-1,600 for a 2 br unit. More from The Property Observer here.

I’m confident Bondi Beach can maintain its village charm and character through these gentrified times but with real estate prices set to skew sky-high, hopefully we won’t have to top rich Aunt Beryl to afford to live here.

Yours in the big bucks…

x andy

Pacific Bondi Penthouse at Bondi Beach Sydney NSW

Pacific Bondi penthouse. Image source: Australian Financial Review

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