Fine diamonds, delicious drops of whisky, intriguing art and handcrafted furniture are not only eminently pleasing, they are also covetable gems for savvy investors seeking remarkable returns. And where to house your precious commodities? One of Australia’s dreamiest prime properties: Crown Residences at One Barangaroo.
Within the past decade, these pieces all recorded dramatic increases in their investment performance, according to the inaugural Knight Frank Luxury Investment Index, Australian special edition report. The index was released in late 2019 at an intimate showcase very aptly named ‘Objects of Desire’ by Knight Frank at the Crown Residences showroom in Sydney – a taste of what’s to come when the multibillion-dollar development is completed in 2021.
Super-prime and prime property recorded hefty increases in sales over a 10-year period, making opulent Australian dwellings highly sought after by ultra-high-net-worth individuals, says Knight Frank Partner, Crown Residences at One Barangaroo’s Erin van Tuil. “There’s been a significant uplift even when the rest of the market is seeing a downturn,” she explains. “We’ve seen a huge increase in the wealthy population in Sydney. We’re expecting almost 60,000 high-networth individuals (millionaires) residing in Sydney over the next five years and more than 1,000 ultra-high-net-worth individuals (people with a disposable income of US$30 million or more).
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