Sydney houses emerge as latest real estate collectibles
Houses across Sydney are emerging as the latest 'must-have' real estate collectibles as Australians increasingly look out for distinctive houses with a unique style or a famous history.
"People just love finding something different to an ordinary cookie-cutter kind of house," said Langulin agent Louisa Jackson. "A lot of houses these days feel the same but we’re finding purchasers are looking beyond them; they’re looking for something unique, something individual, something they won’t see anywhere else."
According to Anthony Puntigam of Phillips Pantzer Donnelley, collectibility also relies on the architect who designed the property, suggesting that many Australian investors will rush to purchase a house built by their favourite.
However, he adds that some properties are popular due to their ornate ceilings or floors, individually designed features that offer a draw of their own or make an old home more liveable.
Sydney Sotheby’s Realty‘s Giorgio Koula notes that it's not just Australian buyers who are interested in the country's collectible property, with many of the company's potential clients based overseas. In particular, Mr Koula stated that he has had a large amount of overseas interested in the 2014 Australian House of the Year, which is currently for sale between $7 million and $7.7 million.
"They’re treating it as a collectible, as an investment, as something that will increase in value over time, like an antique car," he said. "They might only use it themselves if they come to Australia for two weeks or three months of the year, but they want to own it because it’s so beautiful, prestigious and valuable."