Cottesloe Gem Set to Break Land Records
A prime residential property in Cottesloe, Perth’s luxurious coastal suburb, has been listed for over $20 million, boasting a price per square metre of $16,934, potentially breaking existing land records by more than $2000.
The 1181 square metre north-facing property enjoys protected ocean views, proximity to the ocean, and a coastal lifestyle with the sound of waves and scenic views. Driven by land scarcity and coastal appeal, the value lies in land potential for redevelopment, not the existing modest cottage.
With Perth’s median house price increasing 6.6% quarterly and 23.8% annually, Cottesloe’s luxury market is primed for continued growth and interest in this record-breaking listing.
Highlights
- A Cottesloe property listed for over $20 million is set to break land records with a price per square metre exceeding $16,934.
- The property spans 1181 square metres with a north-facing orientation, adjacent to parkland with protected ocean views.
- The listing price per square metre is over $2000 higher than the current record, driven by land scarcity and coastal appeal.
- The property’s value lies in its land potential for redevelopment, rather than the existing modest cottage.
- Cottesloe’s enduring appeal positions it as a lucrative investment area, with growing demand for coastal living among affluent buyers.
Setting a New Benchmark
The Cottesloe property, listed for over $20 million, is poised to set a new residential land benchmark in Western Australia. With a price of $16,934 per square metre, this listing exceeds the current record by over $2000 per square metre.
This significant increase is largely driven by land scarcity and the property’s coastal appeal. The property’s value lies in its land, rather than the existing modest cottage, emphasizing the potential for redevelopment.
The high asking price reflects the limited availability of large residential properties in Cottesloe, particularly those with north-facing orientation. As a result, this listing is expected to attract strong interest from affluent buyers seeking a unique opportunity in a highly sought-after location.
Unparalleled Location and Features
Situated on a corner of Pearse Street, near the Indian Ocean, this Cottesloe property boasts a unique combination of location and features that contribute to its exceptional value. Spanning 1181 square metres, the property offers a north-facing orientation, highly desirable in real estate, and is adjacent to parkland with protected ocean views.
This rarity provides the ultimate coastal lifestyle, with the sound of the waves and scenic views creating a peaceful atmosphere.
The property’s proximity to the ocean also presents opportunities for property development, taking advantage of its prime location to create a luxurious coastal retreat. Its unique combination of features and location makes it an attractive prospect for those seeking a luxurious coastal lifestyle. This exclusive property offers the perfect blend of calmness and sophistication.
Perth’s Luxury Market Context
Perth’s luxury market has witnessed significant growth, with Cottesloe emerging as a prime location in the city’s western suburbs. This trend is underpinned by a strong demand for luxury amenities and a desirable coastal lifestyle. Perth’s median house price has risen 6.6% quarterly and 23.8% annually, reaching $852,240.
Cottesloe’s prestige status is recognized in the market, with limited availability of large residential properties driving demand. As a result, the suburb has become a prime location for affluent buyers seeking luxury coastal living.
The current listing’s unique combination of land size, orientation, and proximity to the ocean is expected to capitalize on this trend, attracting buyers seeking a premium lifestyle.
Land Value and Investment Potential
Cottesloe’s prestige market has set the stage for a highly sought-after listing that embodies the suburb’s luxury coastal lifestyle, and a closer examination of the property’s land value and investment potential reveals a compelling opportunity for affluent buyers.
The listing’s price per square metre of $16,934 highlights the suburb’s strong land appreciation. For investors, this presents a strategic opportunity to capitalise on Cottesloe’s enduring appeal.
| Land Value Metrics | Cottesloe Listing |
|---|---|
| Price per square metre | $16,934 |
| Land size | 1181 square metres |
| Total land value | Over $20 million |
| Record increase | Over $2000 per square metre |
Trends in Perth’s Prestige Market
A surge in luxury listings has marked a notable shift in Perth’s prestige market, with Cottesloe emerging as a hub of high-end residential activity.
This trend aligns with the growing demand for coastal living, particularly among affluent buyers seeking a luxury lifestyle. In Cottesloe, the median house price has seen significant growth, with limited availability of large residential properties driving interest in unique listings.
As the suburb continues to establish itself as a prime location in Perth’s luxury market, industry experts note the exceptional nature of recent listings, such as the $20 million-plus property on Pearse Street.
With its north-facing orientation and ocean views, this property embodies the essence of coastal living and luxury lifestyle, further solidifying Cottesloe’s reputation as a premier destination for high-end buyers.
