Author: LISA ALLEN, JOHN STENSHOLT
Plastic surgeon and hotel owner Jerry Schwartz in the swimming pool of his 6725 million Sydney mansion. Photography: Nic Walker
Jerry Schwartz, a cosmetic surgeon and hotel owner with a fortune of A$4.68 million, believes that he has obtained a very high value for money from the luxury waterfront house he bought in Vaucluse in Sydney for A$6,725 million.
Dr. Schwartz bought the property with a 25-meter swimming pool a year ago-this is the largest private swimming pool in Sydney Harbour-but he said that this mansion and similar properties have resisted the wider impact. Real estate decline in the residential market.
He is one of the richest people published in the inaugural issue of "The List-Australia's Richest 250" (The List-Australia's Richest 250). This booklet will be published this Saturday in "The Weekend Australian". Published.
The real estate industry dominates The List, with 68 people on the list, including billionaires Harry Triguboff and Lang Walker. There are also many members on the list who have gained wealth in industries such as transportation and mining before getting involved in residential and commercial real estate investments.
Blackburne Group Managing Director Paul Blackburne and his wife Charmaine and their children Aria and Ethan. Image: Philip Gostelow
The List is the most comprehensive study of wealthy elites ever conducted in Australia, covering more people than any previous list—250 people. The List has 96 billionaires and 27 women on the list. The 250 members on the list have an average of A$12.7 billion in wealth.
The total wealth of these 250 people is nearly A$3200 billion.
Tobi Pearce and Kayla Itsines' sports app "Sweat" put them on the star-studded list of rich entrepreneurs. Image: Nic Walker
Many of them have purchased a large number of properties in the past year, ignoring the shadow of construction in the entire residential market.
Dr. Schwartz owns 14 hotels in New South Wales and Queensland, so he is known as the largest private owner of accommodation in Australia, and is ranked 213th on The List.
He hopes to increase the height of his tennis court in his Sydney property to make way for a home theater and six-car garage, and believes that the 500 million he spent on renovations will make the property more valuable.
"Although the general real estate market is considered gloomy, Sydney's prestigious residences have absolutely survived (during the recession) and maintained strong prices," he told The Australian. "This is because the inventory of the Port Marina and other prestigious residences is limited."
According to data from My Housing Market, Sydney’s eastern suburbs and lower north shore were the main areas for super luxury homes in the past year. A total of 50 houses and apartments were sold at a price of more than A$1000 million.
Despite the popularity of the Eastern District, the place that sold the most Million Mansion homes in 2018 was Sydney's North Shore, with 19 transactions, mainly Mosman. The most expensive is the magnificent 1-3 Burran Avenue mansion, which is priced at $2373.3 million.
In addition to NSW, the only state that recorded multiple transactions of more than 1000 million houses and apartments last year was Victoria. Seven of them were sold in Toorak and the highest price of a luxury home at 7 Chastleton Avenue was $9 million.
The inaugural issue of The List includes news stories and features of Australia's wealthiest individuals and families, exploring the experiences and lessons behind their business careers, and unveiling trends in personal wealth creation.
"The List-Australia's Richest 250" (The List-Australia's Richest 250): You can get it in "The Weekend Australian" this Saturday, don’t miss your 84 pages magazine.