Chinese Buyer Pushes Melbourne Market Sky High

A businessman based in China has become the owner of the most expensive apartment sold in Australia.

At more than $33,000 per square metre the 750sq m penthouse in one of Australia’s tallest residential buildings the Fender Katsalidis-designed Australia 108 building in Southbank, Melbourne, is spread across the entire 100th floor of the building.

The 319-metre structure is being built by Singaporean conglomerate Aspial.

Australia 108 is Aspial’s first Melbourne project, the ambitious developer is said to also be planning a seven-tower 1250-apartment project in Cairns, Queensland as well as two further projects in Brisbane.

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