Brighton Victoria’s $50 million beachfront mansion is for sale

A mansion with a whopping $50 million price tag that has been put up for sale has gained 240 times in value since it was last sold in 1971, according to a financial expert, proving that the top 1% are not concerned about rising costs of living.

On Wednesday, property market reporter Chris Kohler posted pictures of the “quite big” 4,500 sq m home on the waterfront in Brighton, Melbourne, on social media.

He said that the three-bedroom home’s “unique” price tag, which included a tennis court, pool, and housekeeper’s cottage, demonstrated how the wealthy segment of the market is unconcerned by the bad economic news about interest rates and inflation.

According to the 9 News reporter, “This will be the third time in Melbourne this year that a home has sold for $50 million or more.”

“So it seems that the top 1% of the market and the 1% in real estate are not concerned about the things that everyone else is.”

“The cost of living squeeze and increasing interest rates.”

The purchase follows the prior winter’s sales of two Toorak residences for, respectively, $80 million and $75 million.

Ed Craven, a stake.com creator, purchased the $80 million mansion in Toorak, shattering the previous record for the neighborhood’s home price.

The latest sale of the 16 Moule Avenue property in Brighton, which has had two owners over a century, occurred in 1971 for $205,000.

A wide backyard with a view of the sea was shown in property video, along with well-kept grounds, an antique light post, and a groomed garden.

Images of the inside of the “Teychel” house showed huge doors, a grandfather clock, and vibrant carpets in the hallway.

The possibility to refurbish and grow is being made available via the late Judith Terry’s inheritance.

The mansion is a “iconic once-in-a-generation chance to construct a lifestyle like no other,” according to Kay & Burton managing director Ross Savas, who is in charge of the sale.

The local and national markets will surely be paying careful attention to this historic offering, but given its importance and beachside location, Mr. Savas predicted that it would also draw significant interest from throughout the world.

The house contains a living room with French-inspired design, a marble en suite, a boat shed, and a cottage for the housekeeper.

In their comments on Kohler’s online post, members of social media agreed with him that the top of the market showed little interest in the financial woes of the majority of the populace.

You don’t say, “The one percent in real estate is not concerned about the things that everyone else is rising interest rates and cost of living.” It really aggravates me,” one reader said.

Another individual said, “I really truly expected at $50mil it would be nicer/more amazing.”

About 60 times the average yearly pay in 1971. Another added on, “almost 700 times the average annual pay today.”

That cost is really absurd, right? Nonetheless, the home is gorgeous,” said another.