Melbourne penthouse apartment, realestate.com.au
This week, Secret Agent takes a closer look at the price per square metre of Melbourne penthouse apartments.
Besides occupying the top floor of a medium to high rise building, for an apartment to be considered a penthouse, it also had to have a distinguished floor plan.
Out of 1,908 apartments sold around inner Melbourne since January 2016 to May 2017, there were only 21 penthouse apartments. All of these were new, post-90s builds except for 2 warehouse conversions. These penthouses were concentrated around the CBD, inner East and inner South suburbs.
Note that our results were skewed towards the sub-$3 million penthouse market, as information on apartments sold above this value is generally less accessible. Most of the apartments in our study are not whole-level penthouses.
|Average sale price
|Average overall PPSM**
|Average PPSM for 2 bed
|Average PPSM for 3 bed
|Average PPSM for 4 bed
|Median internal area for 2 bedrooms
|Median internal area for 3 bedrooms
|Median internal area for 4 bedrooms
|Median outdoor area
* Based on less than 5 sales, ** PPSM refers to price per internal square metre
Table 1 Average prices per square metre and median sizes in penthouses versus non-penthouses around inner Melbourne
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