The eastern suburbs homeowners making millions each year in capital gain | Lucy_Macken
Pent-up buyer demand has resulted in a few out-of-line trophy sales in the eastern suburbs.Property listingsJulina Lim, matriarch of the Oceania Property development family, has sold her Vaucluse home for about $27 million, making her $2 million richer for every year that she owned it.
The sale is just the latest of a few high-end eastern suburbs homes that have made annual jumps in value of more than $2 million in recent years as strong buyer demand outstrips an acute shortage of ultra-prestige homes for sale. The five-bedroom house looks largely unimproved during Lim’s seven years of ownership, and is set on just 373 square metres with a six-car garage, home theatre, formal living rooms and a rooftop terrace.
The five-bedroom house is owned in a company name directed by Kingland Mining director Meihong Yang, a business associate of gold mining businessman John Li, and was purchased for $10.9 million two years ago, a loss for the owner at the time who had purchased it in 2019 for $11.8 million.
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