Luxury market defying economic gravity
With the prestige property market breaking records from Perth to Sydney, those affected by the COVID-19 crisis could be excused for wondering if they are part of the same economy.
Luxury properties are holding value in prestige suburbs such as Manly in Sydney. Photo: Shutterstock (Image source: Shutterstock.com)
With prestige property markets breaking records from Perth to Sydney, those affected by the COVID-19 crisis could be excused for wondering if they are part of the same economy.
In posh Surry Hills in Sydney’s east, self-storage businessman Marco Camuglia sold his historic residence Italianate House for more than $11 million, breaking the suburb record by well over $3 million.
Once the base of the Royal Australasian College of Surgeons, the sal…
