Since the latter half of 2020, the prestige property market has seen amazing growth. 

This segment is so exclusive that to qualify for the label, the property’s sale price needs to be over $10M in Sydney and Melbourne or $7M elsewhere, and this got us thinking, “Well, what is driving the incredible price growth we’ve been hearing about across this segment?”

Michelle Ciesielski of Frank Knight shares insights on why and how this growth in the prestige market is happening, what the ultra-wealthy think about when choosing property to invest in, the concept of “branded residences” and much, much more.

If you enjoy the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!

See you in the episode!

 

Episode Highlights:
Where else in the world are property markets booming? [02:35]
What is driving the growth in value in prestige market properties? [05:12] 
Buying residential property purely for investment not lifestyle benefits [09:42]
Where did the 11% increase of prestige market buyers come from? [13:58]
An insight on the mindset of the ultra-wealthy [16:25]
Will more incredibly wealthy people come to Australia post-pandemic? [19:12]
How do global investors think about currency & ‘buying cheap’? [22:45]
Tax awareness for expats & overseas investors with property in Australia [25:20]
2 important factors prestige market buyers need to focus on [27:06]
The continuous cycle of worsening inequality & build-up of the wealthy [32:33]
Considerations for building properties for prestige vs. standard markets [36:16]
Is there a push for major developers to repurpose commercial spaces? [39:50]
Can you entertain on the 81st floor? [43:24]
Do wealthy investors invest in scarce buildings to resell them later? [45:03]
The “branded residence” concept [47:07]
Are compounding properties common with the ultra-wealthy? [51:43]
Michelle’s property dumbo [55:49]
Buying in multiple areas & F.O.M.O. [58:09]

 

Links from the Show:
Links to recent Knight Frank reports:
The Wealth Report 2021
Australian Prime Residential Review Q3 2021
Australian Prime Waterfront Index 2021
Australian Residential Tennis Court Premium 2021
Knight Frank on LinkedIn
Knight Frank on Facebook

 

About Michelle

Michelle Ciesielski is a Partner at Knight Frank Australia and leads the residential research team, providing a platform for clients to make strategic and well-informed investment decisions.  Industry-leading residential insights are shared via publications and presentations specialising in development sites, foreign investment, apartment projects and established property, covering both the prestige and mainstream residential markets across Australia. Michelle frequently appears in local and international print, online and broadcast media commenting on current issues relating to the residential property market.
Connect with Michelle on LinkedIn
Follow Michelle on Twitter

 

Connect with Us:
Looking for a Sydney Buyers Agent? www.gooddeeds.com.au
Work with Veronica: https://linktr.ee/veronicamorgan
Looking for a Mortgage Broker? www.wealthful.com.au
Work with Chris: hello@wealthful.com.au 
Send in your questions to: questions@theelephantintheroom.com.au 

 

Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/202

If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

Since the latter half of 2020, the prestige property market has seen amazing growth.&nbsp;
This segment is so exclusive that to qualify for the label, the property&rsquo;s sale price needs to be over $10M in Sydney and Melbourne or $7M elsewhere, and this got us thinking, &ldquo;Well, what is driving the incredible price growth we&rsquo;ve been hearing about across this segment?&rdquo;
Michelle Ciesielski of Frank Knight shares insights on why and how this growth in the prestige market is happening, what the ultra-wealthy think about when choosing property to invest in, the concept of &ldquo;branded residences&rdquo; and much, much more.
If you enjoy the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a>!
See you in the episode!
&nbsp;
Episode Highlights:
<ol>
<li aria-level="1">Where else in the world are property markets booming? [02:35]</li>
<li aria-level="1">What is driving the growth in value in prestige market properties? [05:12]&nbsp;</li>
<li aria-level="1">Buying residential property purely for investment not lifestyle benefits [09:42]</li>
<li aria-level="1">Where did the 11% increase of prestige market buyers come from? [13:58]</li>
<li aria-level="1">An insight on the mindset of the ultra-wealthy [16:25]</li>
<li aria-level="1">Will more incredibly wealthy people come to Australia post-pandemic? [19:12]</li>
<li aria-level="1">How do global investors think about currency &amp; &lsquo;buying cheap&rsquo;? [22:45]</li>
<ul>
<li aria-level="2">Tax awareness for expats &amp; overseas investors with property in Australia [25:20]</li>
<li aria-level="2">2 important factors prestige market buyers need to focus on [27:06]</li>
</ul>
<li aria-level="1">The continuous cycle of worsening inequality &amp; build-up of the wealthy [32:33]</li>
<li aria-level="1">Considerations for building properties for prestige vs. standard markets [36:16]</li>
<li aria-level="1">Is there a push for major developers to repurpose commercial spaces? [39:50]</li>
<ul>
<li aria-level="2">Can you entertain on the 81st floor? [43:24]</li>
</ul>
<li aria-level="1">Do wealthy investors invest in scarce buildings to resell them later? [45:03]</li>
<li aria-level="1">The &ldquo;branded residence&rdquo; concept [47:07]</li>
<li aria-level="1">Are compounding properties common with the ultra-wealthy? [51:43]</li>
<li aria-level="1">Michelle&rsquo;s property dumbo [55:49]</li>
<li aria-level="1">Buying in multiple areas &amp; F.O.M.O. [58:09]</li>
</ol>
&nbsp;
Links from the Show:
<ul>
<li aria-level="1">Links to recent Knight Frank reports:</li>
<ul>
<li aria-level="2"><a href="https://www.knightfrank.com/wealthreport">The Wealth Report 2021</a></li>
<li aria-level="2"><a href="https://www.knightfrank.com.au/research/australian-prime-residential-review-q3-2021-8415.aspx">Australian Prime Residential Review Q3 2021</a></li>
<li aria-level="2"><a href="https://www.knightfrank.com.au/research/australian-prime-waterfront-index-2021-7660.aspx">Australian Prime Waterfront Index 2021</a></li>
<li aria-level="2"><a href="https://www.knightfrank.com.au/research/australian-residential-tennis-court-premium-2021-7813.aspx">Australian Residential Tennis Court Premium 2021</a></li>
</ul>
</ul>
<ul>
<li aria-level="1"><a href="https://www.linkedin.com/company/knight-frank-australia/">Knight Frank on LinkedIn</a></li>
<li aria-level="1"><a href="https://www.facebook.com/KnightFrankAustralia/">Knight Frank on Facebook</a></li>
</ul>
&nbsp;
About Michelle
Michelle Ciesielski is a Partner at Knight Frank Australia and leads the residential research team, providing a platform for clients to make strategic and well-informed investment decisions.&nbsp; Industry-leading residential insights are shared via publications and presentations specialising in development sites, foreign investment, apartment projects and established property, covering both the prestige and mainstream residential markets across Australia. Michelle frequently appears in local and international print, online and broadcast media commenting on current issues relating to the residential property market.
<ul>
<li aria-level="1">Connect with <a href="https://www.linkedin.com/in/michelleciesielski/">Michelle on LinkedIn</a></li>
<li aria-level="1">Follow <a href="https://twitter.com/MsMCiesielski">Michelle on Twitter</a></li>
</ul>
&nbsp;
Connect with Us:
<ul>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="https://linktr.ee/veronicamorgan">https://linktr.ee/veronicamorgan</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.wealthful.com.au/">www.wealthful.com.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@wealthful.com.au">hello@wealthful.com.au</a>&nbsp;</li>
<li aria-level="1">Send in your questions to: <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a>&nbsp;</li>
</ul>
&nbsp;
Find this episode on our website: <a href="https://www.theelephantintheroom.com.au/podcasts/202">https://www.theelephantintheroom.com.au/podcasts/202</a>
If you&rsquo;ve enjoyed this episode, don&rsquo;t forget to like, share, rate and subscribe for more!

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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