Sydney is now ranked the 11th most expensive city globally for luxury property
Sydney has ranked as the 11th most expensive city globally for luxury property, with US$1 million now buying just 45 square metres of high-end real estate, according to Knight Frank’s The Wealth Report 2025.
While that may seem small, it offers better value than global hotspots like Monaco (19 sqm), Hong Kong (22 sqm) and Singapore (32 sqm).
For those seeking more space, the Gold Coast remains Australia’s most affordable luxury property market, offering 119 square metres for the same price, followed by Brisbane and Perth.
Despite rising interest rates in recent years, prime residential prices in Australia have continued to climb, driven by cash buyers and limited supply. Knight Frank’s global head of research Liam Bailey said rate cuts could further strengthen the market.
“There is now improved sentiment and further rate cuts expected this year will restore momentum,” he said.
Notably, the report said property remains a top priority for younger wealthy individuals, with 18-to-35-year-olds ranking real estate as their most desired luxury asset.
About the author – Alex Veljancevski is a Sydney mortgage broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.
