New apartments can be a great investment or perfect for the first home buyer or those that are looking to downsize. A New apartment can range in value from under $300,000 in some areas around Australia to over $20 million. One of the most expensive properties sold in Sydney was a new apartment. It was located in Potts Point and sold in 2008 for $20 million. It was purchased off the plan. The new apartment was a two level penthouse with views of Sydney Harbour and the opera House as well as Woolloomooloo Bay and the Sydney CBD. It is larger than most houses with 530 sq meters of internal space and a 115sq meter balcony. There are nine new apartments included in the development. Other premium new apartments and units that have sold recently include an $18.2 million off the plan new apartment in Melbourne and a $16.8million record sale in the Bennelong block. More recently the most expensive new apartment has sold off the plan in The Elizabeth, located opposite Hyde Park in the Sydney CBD. It sold for $20.1million. This new apartment is a three level penthouse with views over Hyde Park and the CBD.
