One bedroom apartment with 'crazy' feature listed for $1,000pw causes divide
With a personal driver just one of the many inclusions, some argue the price makes sense. Would you pay $52,000 per year for this Melbourne apartment?
As rental prices surge during Australia's housing crisis, an oddly-shaped $1000 a week, single-bedroom beachfront apartment has people debating if the price is justified.
In Melbourne's St Kilda, the prestigious listing has a unique triangular floor plan and a $6000 bond is required to secure the property. The 66-square metre furnished apartment in the Saint Moritz Beachfront Residences includes amenities such as a personal driver, an in-house movie theatre, a gym, and a floatation tank — just to name a few.
Anyone willing to fork out $52,000 on rent each year for this one-bedder has to book a 30-45 minute private inspection to view the apartment and all the facilities.
For those with larger pockets seeking a bigger apartment in the same block, there is a lower-level three-bedroom, two-bathroom apartment also for lease for a casual $2,300 per week, plus a $10,000 bond.
The one-of-a-kind building was developed by the Gurner Group, a property development company led by the controversial Tim Gurner, one of Australia's richest men. Gurner recently broke his silence about the fallout that came after he made "out-of-touch" comments claiming 275,000 Aussies should lose their jobs to lower "arrogance" among entitled workers.
'Disgusting' price receives backlash
A confused poster shared online that although the apartment is close to the CBD and the beach, the floor plan gave them "anxiety". "It's right near St Kilda beach, but they couldn't figure out a better layout without a crazy diagonal kitchen, for $1000 per week???" they asked.
Many agreed it was an unusual layout, but it was the $52,000 per year price tag they also could not wrap their heads around. "I actually think that's a creative use of the available space. The fact that it's listed for $1000 per week for a 1BR is f**king disgusting," one person commented.
"I could get used to it but not the price, $52k a year? Really?" another shared.
Do you have a story about a rental property? Contact reporter Laura Koefoed at laura.koefoed@yahooinc.com
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Amenities make it 'worth it' to others
The median rental price for a one-bedroom unit in St Kilda is $390 per week, according to realestate.com, which makes this property more than double the average price. Kooyong, Abbotsford, Cranbourne, Fitzroy and St Kilda have had the most inquiries per rental listing on the website.
Despite this, the location and laundry list of inclusions meant others could understand why the price was so high. "It's fully furnished though, and in a complex with a pool, gym, cinema and valet service… so possibly worth it to some people I guess," said one person.
Median rent increased by $20 to $500 a week in metropolitan Melbourne, according to the Victoria’s department of families, fairness and housing June quarter 2023 Rental Report.
“The Melbourne Rent Index (MRI) increased by 4.1 per cent in the June quarter,” the report said. “In the twelve months to June 2023, the MRI increased by 15.7 per cent, the highest annual increase since this Rental Report series began in 2000.”
Aussies sick of high rental prices
This is not the first rental to cop backlash as prices continue to soar, with people across Australia calling out properties or real estate agents they believe are taking it too far.
In August, luxury apartments in Bondi that were meant to be part of the affordable housing scheme were slammed after being listed for as much as $1150 per week for a two-bedroom unit, and $775 for a one-bedroom after the required 20 per cent discount.
Just this month, a real estate agency in Perth was under fire from fed-up renters for an email a staff member sent out to clients, seemingly boasting about the business opportunities arising from the nation's crushing housing affordability crisis.
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