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

Romance and babies: why we may see another rate cut

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

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

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