Real Es­tate

GIVEN THAT MEL­BOURNE KEEPS TOP­PING THE LIST OF THE WORLD’S MOST LIVE­ABLE CI­TIES, ITS LUX­URY REAL ES­TATE HAS A LOT TO OF­FER, WRITES Tam­sin Bradshaw

Hong Kong Tatler - - Contents -

Mel­bourne keeps top­ping the list of the world’s most live­able ci­ties

Res­i­dents of mel­bourne are not sur­prised that the Aus­tralian city, cap­i­tal of the state of Vic­to­ria, was re­cently de­clared the world’s most live­able city for the fourth con­sec­u­tive year by the Economist In­tel­li­gence Unit. “For years, res­i­dents of this city have per­fected the recipe for an idyl­lic ex­is­tence: per­fect tem­per­ate cli­mate, an eclec­tic food cul­ture and the best latte on earth,” says Na­dia Karkar, CEO of Kay & Bur­ton, a pre­mium prop­erty agency based in the city. “Where else can you savour runny eggs on toast while sit­ting on the pier with grace­ful yachts in the dis­tance, en­joy a brisk walk on the beach with clear blue skies above, and a strong flatwhite with a friendly cou­ple while watch­ing kids play in the park?”

The city is “ex­tremely cul­tur­ally di­verse, which makes it wel­com­ing and em­brac­ing,” says Ger­ald Betts, di­rec­tor of RT Edgar Al­bert Park. And, he adds, it’s “in­cred­i­bly cos­mopoli­tan, show­cas­ing some of the world’s best shop­ping, en­ter­tain­ment, bars, cafes and restau­rants, and is the sport­ing cap­i­tal of Aus­tralia.” In fact, Mel­bourne hosts some of the world’s big­gest sport­ing events, such as the Mel­bourne Cup Car­ni­val, per­haps the most an­tic­i­pated horse rac­ing event on the global eques­trian cal­en­dar, the For­mula

One Grand Prix, and some of the year’s most im­por­tant cricket matches.

Aside from the life­style, there are plenty of other fac­tors that make Mel­bourne at­trac­tive for buy­ers of res­i­den­tial prop­erty. “The amount of space, qual­ity of ameni­ties and mag­nif­i­cent views of the city are un­par­al­leled,” says Karkar. Knight Frank points out in its June 2014 mar­ket re­port that Mel­bourne has a “sound trans­port net­work”, and that the Aus­tralian econ­omy’s re­silience dur­ing the re­cent global down­turn made the city—and coun­ter­parts in New South Wales, South Aus­tralia and Western Aus­tralia—a “safe haven” for for­eign in­vestors.

Un­less you have tem­po­rary or per­ma­nent res­i­dency, you can only buy new prop­er­ties or off-the-plan de­vel­op­ments, says Karkar, but there are plenty of new de­vel­op­ments to con­sider. Knight Frank says 12,600 apart­ments will be com­pleted in the next three years. And, adds Big­gin & Scott di­rec­tor An­drew Crotty, “In Rich­mond alone, which is a vi­brant sub­urb with lots of cafes and restau­rants, we’ve got 5,000 new apart­ments slated to go on the mar­ket.”

Karkar also sug­gests look­ing to the pres­ti­gious St Kilda Road for the ul­ti­mate in apart­ment liv­ing. “Here [on St Kilda Road], the high-rise build­ings are the res­i­dence of choice for wealthy cou­ples down­siz­ing from the sub­urbs and ex­pats who de­sire close prox­im­ity to the city.”

fly­ing high The pent­house on the 84th floor of Eureka Tower pro­vides stun­ning views of the South­bank neigh­bour­hood on the Yarra River

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