Luxury apartment ‘rightsizing’ boom reshapes prestige property market
Wealthy Aussies are swapping large family homes for high-end apartments, with sales of prestige units tripling over the past decade.
2 min
Australia’s prestige apartment market is booming as wealthy homeowners increasingly choose to “rightsize” into luxury apartments rather than remain in large family houses.
New research from McGrath shows the number of prestige apartments sold in 2025 has tripled over the past decade as high-net-worth buyers prioritise lifestyle, security and convenience.
McGrath chief executive John McGrath said the shift reflects a growing preference among affluent Australians for luxury apartment living.
“Prestige apartments have been the strongest market segment in the last few years as high-net-worth individuals choose luxury, security and lifestyle in apartments over houses,” he said.
“Demand has increased dramatically as luxury apartments have gone to a whole new level in design, finishes and amenities.”
Queensland has led the surge in prestige apartment sales, accounting for 43 per cent of East Coast transactions in 2025. New South Wales followed with 41 per cent, while Victoria made up the remaining 16 per cent.
Southeast Queensland leads the trend
Southeast Queensland has become a particularly popular destination for luxury apartment buyers seeking waterfront lifestyles with convenient access to major cities.
Mr McGrath said the region’s beaches and rivers had provided the ideal setting for a new generation of high-end residential developments.
Prices for newly built prestige apartments have also significantly outperformed established units over the past five years. New apartments on the Gold Coast have surged 88 per cent, compared with 60 per cent in Brisbane, 34 per cent in Sydney and 32 per cent in Melbourne.
Apartments getting larger
Developers have responded by building larger apartments with more bedrooms and premium amenities to appeal to affluent downsizers.
McGrath’s national head of research, Michelle Ciesielski, said the emerging rightsizing trend had reshaped the type of apartments being built across Australia.
“After identifying the emerging rightsizing trend in Australia back in 2020, there has been more than double the delivery of apartments with three or more bedrooms, and the average apartment built was one-third larger,” she said.
Hotel-style amenities and premium parking
Buyers are also increasingly seeking features previously associated with luxury hotels, including pools, gyms and high-end shared facilities.
More than two-thirds of residential towers across the CBDs of Sydney, Melbourne and Brisbane now include both a pool and gym.
Parking has also become a major selling point in the prestige apartment market. Research shows Sydney apartments with more than four car spaces command a 62 per cent price premium compared with those with just one space.
Despite strong demand, developers continue to face rising construction costs, labour shortages and higher material prices when delivering new luxury projects.
Even so, McGrath said demand for prestige apartment living is expected to remain strong as wealthy Australians look for sophisticated homes that offer space, security and a lifestyle-driven alternative to traditional houses.
For Central Element, the start of work at Pearl represents another step in the company’s growing eastern suburbs pipeline.
All three vehicles will form part of a broader charitable initiative benefiting Big Brothers Big Sisters of America, the American Red Cross and Starlight Children’s Foundation
Unveiled around Geneva Watch Days, the Laureato Fifty Tourbillon combines a compact integrated-bracelet case with Girard-Perregaux’s new GP8410 calibre.
< 1 min
The return to more restrained case sizes has reached one of high watchmaking’s most theatrical complications.
Girard-Perregaux has unveiled the Laureato Fifty Tourbillon 39mm, extending the anniversary-focused Laureato Fifty family with a new movement and an open tourbillon display that avoids the oversized proportions often associated with complicated sports watches.
The 39mm case is central to the proposition. It preserves the Laureato’s integrated-bracelet architecture and recognisable octagonal bezel while making the complication feel wearable rather than monumental.
At the lower portion of the dial sits the tourbillon cage, turning the regulating organ into the watch’s visual centre. The new Calibre GP8410 has been developed to support that layout and represents the most technically ambitious movement yet used in the Laureato Fifty line.
Two principal treatments have been shown: a blue execution and a warmer version with an 18-carat rose-gold tone. In both, the appeal comes from contrast between the disciplined geometry of the Laureato and the constant motion of the tourbillon.
Girard-Perregaux has deep historical credibility in the complication, particularly through its Tourbillon with Three Gold Bridges. The Laureato Fifty Tourbillon translates that expertise into a modern sports-watch language rather than recreating a historical pocket-watch architecture.
For collectors, the decisive details will be production numbers, Australian allocation, movement finishing, power reserve, water resistance and price. Those should be confirmed from the full manufacture release before publication.
What is already clear is the strategic intent. Instead of making the Laureato more aggressive, Girard-Perregaux has added complexity while retaining a measured diameter. That makes the watch feel aligned with the current market—and potentially more enduring than a larger anniversary statement.
Fact box
– Model: Girard-Perregaux Laureato Fifty Tourbillon
– Case: 39mm
– Movement: New GP8410 tourbillon calibre
– Versions: Blue and rose-gold-toned executions
– Launch context: Geneva Watch Days 2026
On October 2, acclaimed chef Dan Arnold will host an exclusive evening, unveiling a Michelin-inspired menu in a rare masterclass of food, storytelling and flavour.
BMW has unveiled the Neue Klasse in Munich, marking its biggest investment to date and a new era of electrification, digitalisation and sustainable design.
