Rich and fabulous: Australia's most expensive houses

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In a follow up to Is this Australia’s cheapest house, Your Investment Property has taken a look at some of the most expensive properties on the market to see what the big spenders get for their money.

Do you dream of adding a waterside mansion with its own private cinema to your portfolio? How about a home on 75 acres of tropical gardens right next to the Great Barrier Reef, or a block of units just a stone’s throw from the Sydney CBD? The catch? You'd need to pay as much as $19m for these prestige properties.

This four storey behemoth on Hope Island, Queensland, for example, is on the market with a price tag of $19m. Described as a “mega-mansion” in the real estate agent’s blurb, it comes with five double bedrooms (all ensuite), a self-contained penthouse, a ten-seat home theatre and an office suite with boardroom. Naturally, there are Swarovski crystal chandeliers throughout.

If you only have $10m in spare change, then you could pick up this five-bedroom home in one of Perth’s most salubrious suburbs, Dalkeith. Once again, the home theatre comes as standard, as does the pool and a host of prestige features, such as a “formal powder room”, “communications centre”, and “full wet bar”.

Or how about this slice of paradise in the Whitsundays, which is also on the market for a cool $10m? If the location sounds a bit remote to you, then don’t worry, the property does offer a helipad for a quick getaway. Naturally, there are also two spas – one indoor and one outdoor.

Meanwhile, $9.5m will get you a three-bedroom apartment off the plan in Noosa Heads, $9.25m-plus will secure you a palatial four-bedroom home in Port Douglas, $8.95m will buy you a four-bedroom “oceanside sub penthouse” in Surfers Paradise, and $8.9m will buy you a grand old four-bedroom Mediterranean style mansion – also in Surfers.

Perhaps a bit closer to traditional property investor stock, this block of 12 apartments, just a stone’s throw from the Sydney CBD in in Pyrmont, is advertised as bringing in a gross annual income of around $700,000. The good news is that, should the block sell for its asking price, this predicted income equates to a gross rental yield of 7.6%. The bad news is that the owners are asking for a whopping $9.2m.

Million-dollar mansions aside, visit our property investment forum to discuss more realistic investment strategies with the property investment community.

More stories:

2011’s top selling suburbs revealed

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$1m on a lower income – how to do it, for real

Can you afford to buy in this suburb? Find out how much you can borrow

Top Suburbs : freshwater , coolbellup , west wodonga , westmead , new farm

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