As we all know, money can’t buy happiness and some things can’t be bought. In Australia, a couple who own a house on a 20,000m² plot in Schofields in Sydney refused to sell their €30million property.
An offer at 30 million euros
Based on the outskirts of Sydney, Australia, the Zammits family are living proof that some things are worth more than their true worth. For years, the Australian family refused to give up their home forever, despite huge offers from developers, and fought back against the property invader.
This Australian home is not ready for sale no matter what is offered to its owners. Not much has changed on the two-hectare property since it was purchased sixteen years ago. There are at least five bedrooms, a three-person garage, truck storage for the husband, who runs a haulage business, and a vast expanse of lawn bisected by a 200-meter almost regal driveway.
The March 19 Daily Mail article notes that the property, built sixteen years ago in the style of ‘Windsor Castle’, was surrounded by fields and dotted with small red brick houses and cottages.
Today, the farmland has been replaced with hundreds of new homes clustered around the sprawling 20,000-square-foot lot. From this area comes a major development at The Ponds near Mount Quaker in western Sydney, Australia. The family’s neighbors then gradually sold their property to the property developer. But despite the million-dollar offer, the owners of the village of Zammit refused. Ten years ago, the house was worth $4.75 million, or about €3.25 million.
According to Australian media, their country is now worth more than 40 million Australian dollars or 27.3 million euros. Developers can build 40 new homes there for AUD$1 million (or €684,000) each. However, over the years, the owners have responded the same way to every attempt to contact the developers: “Tell them they’re dreaming.”
In fact, Australia is one of the countries where property prices have risen sharply in recent years.
Australia: an economic model
Australia is a country in the southern hemisphere that fascinates many French people. Going there for a few months to have an international experience is a dream for many. Australia’s remoteness attracts travelers looking for escape and a change of scenery. You don’t board a plane to Sydney as if you’re going to spend the weekend in London. Going to Kangaroo Country requires preparation.
The same applies to real estate. Australia is attractive for all of the reasons we just mentioned. But not only landscape and culture, the stability of the country, the quality of life and prosperity are considered positive factors. For those looking to invest in Asia Pacific, Australia is an exception. Low unemployment, controlled debt, no recession. From a purely economic perspective, Australia is a textbook case. Combined with a policy that benefits the owners and offers real protection in the event of a problem, Australia is an eldorado for real estate investments.
Thanks to several systems, the owner is protected from unscrupulous tenants. For example, there is a national tenant file and a surety bond file. Everyone has a “credit score” so payment events are less common. We tell you, an El Dorado, thousands of kilometers from France, yes.