Kangaroo Point is cementing its status as a luxury property hotspot with the latest sales at River House development totalling close to $30 million for just four skyhomes.
Development managers Fortis confirmed the sale of four whole-floor luxury residences in River House, a project that is transforming the Kangaroo Point skyline. The sales reflect the suburb’s growing appeal to high-end buyers, with prices showing a marked upward trend. Two residences sold for $6.8m and $6.5m before site demolition, while two more recently commanded even higher prices of $7.9m and $8.2m.
River House, currently in early construction on the Kangaroo Point riverfront, will feature 14 whole-floor luxury apartments upon completion. The development is strategically located just 1 km from Brisbane City Council’s forthcoming $190m green bridge, which will provide a direct link between Kangaroo Point and the CBD, further boosting the suburb’s desirability.
Place Kangaroo Point agent Simon Caulfield highlighted the area’s transformation, stating, “Kangaroo Point’s luxury real estate market is undergoing a significant shift. Local buyers are now competing with interstate investors, willing to pay premium rates for luxury full-floor residences in this prime location.”
The suburb’s appeal lies in its proximity to the city centre, coupled with its quieter, more exclusive atmosphere. River House capitalises on this, offering residents unparalleled views of the Brisbane River and city skyline, along with the convenience of inner-city living.
“River House is designed to set a new standard for luxurious living in Kangaroo Point. The strong sales demonstrate the high demand for premium properties in this unique suburb,” Fortis associate director Dan Boman said.
The development features bespoke architecture by Plus Architecture and interiors by Mim Design, aiming to complement Kangaroo Point’s existing mix of heritage homes and modern apartments.
As Kangaroo Point continues to attract luxury developments like River House, it’s rapidly becoming one of Brisbane’s most prestigious suburbs. The area’s transformation is driven by both local and interstate buyers seeking high-end properties that offer both lifestyle benefits and strong investment potential.
Published 5-July-2024
