Prestige Property: 29 Eastbourne Road, Darling Point, NSW
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Prestige Property: 29 Eastbourne Road, Darling Point, NSW

Natural beauty in Sydney’s dress circle.

By Terry Christodoulou
Fri, Oct 15, 2021 4:11pmGrey Clock 2 min

Some homes capture the essence of their surroundings. This leafy home – covered in a crawling vine — does just that, with panoramic water views across the Double Bay to Point Piper and waterfront access,  it sees functional elegance and sophistication meet in a combination of free-flowing interior and outdoor spaces.

Anchored by its privileged position in a secluded cul-de-sac in Darling Point, the residence was designed by award-winning firm BKH with interiors customised by Nick Tobias and sees 6-bedrooms, 7-bathrooms, 4-car garage spanning four levels.

Down on the main floor, all living and dining areas – formal and informal – flow onto a wrap-around terrace with magnificent views via floor to ceiling sliding doors accompanied by tall ceiling heights.

It’s here one finds the heart of the home, the kitchen, and adjoining butler’s pantry and wine room. The main kitchen – one of three in the property — is fitted with Calacatta marble benchtops and Miele gas appliances with an integrated Liebherr fridge.

The living area opens to an inground heated pool with swim jets and an outdoor shower connected to an entertaining terrace.

Elsewhere a private office and study area – complete with panelled bookshelves adjoins the formal lounge with a gas fireplace.

The home’s spacious bedrooms exude comfort and style – each with built-ins, ensuites – while the master wing provides ‘his’ and ‘his’ walk-in robes and an exquisite ensuite with a standalone bathtub.

Throughout the home, the bathrooms are fitted with stone benchtops and custom cabinetry.

Down on the lower level sees an independent guest accommodation with an integrated kitchen and a rumpus/home cinema space with access to the courtyard.

Further, a fully self-contained apartment is on title with independent access overlooking the water and makes for an ideal teenage retreat, guest accommodation or caretaker’s residence containing its own kitchen.

Accessing all four levels is made easy by the internal lift and smart home technology with remote access while private stairs to the water’s edge of Darling Point offers the pinnacle of luxury.

The listing is shared between Bill Malouf (+61 411 428 354) of LJ Hooker Double Bay and Steven Chen (+61 412 959 959) of The Agency. Price guide; $30 million. /


Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

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Hong Kong Takes Drastic Action to Avert Property Slump

The city’s real-estate market has been hurt by high interest rates and mainland China’s economic slowdown

Fri, Mar 1, 2024 3 min

Hong Kong has taken a bold step to ease a real-estate slump, scrapping a series of property taxes in an effort to turn around a market that is often seen as a proxy for the city’s beleaguered economy.

The government has removed longstanding property taxes that were imposed on nonpermanent residents, those buying a second home, or people reselling a property within two years after buying, Financial Secretary Paul Chan said in his annual budget speech on Wednesday.

The move is an attempt to revive a property market that is still one of the most expensive in the world, but that has been badly shaken by social unrest, the fallout of the government’s strict approach to containing Covid-19 and the slowdown of China’s economy . Hong Kong’s high interest rates, which track U.S. rates due to its currency peg,  have increased the pressure .

The decision to ease the tax burden could encourage more buying from people in mainland China, who have been a driving force in Hong Kong’s property market for years. Chinese tycoons, squeezed by problems at home, have  in some cases become forced sellers  of Hong Kong real estate—dealing major damage to the luxury segment.

Hong Kong’s super luxury homes  have lost more than a quarter of their value  since the middle of 2022.

The additional taxes were introduced in a series of announcements starting in 2010, when the government was focused on cooling down soaring home prices that had made Hong Kong one of the world’s least affordable property markets. They are all in the form of stamp duty, a tax imposed on property sales.

“The relevant measures are no longer necessary amidst the current economic and market conditions,” Chan said.

The tax cuts will lead to more buying and support prices in the coming months, said Eddie Kwok, senior director of valuation and advisory services at CBRE Hong Kong, a property consultant. But in the longer term, the market will remain sensitive to the level of interest rates and developers may still need to lower their prices to attract demand thanks to a stockpile of new homes, he said.

Hong Kong’s authorities had already relaxed rules last year to help revive the market, allowing home buyers to pay less upfront when buying certain properties, and cutting by half the taxes for those buying a second property and for home purchases by foreigners. By the end of 2023, the price index for private homes reached a seven-year low, according to Hong Kong’s Rating and Valuation Department.

The city’s monetary authority relaxed mortgage rules further on Wednesday, allowing potential buyers to borrow more for homes valued at around $4 million.

The shares of Hong Kong’s property developers jumped after the announcement, defying a selloff in the wider market. New World Development , Sun Hung Kai Properties and Henderson Land Development were higher in afternoon trading, clawing back some of their losses from a slide in their stock prices this year.

The city’s budget deficit will widen to about $13 billion in the coming fiscal year, which starts on April 1. That is larger than expected, Chan said. Revenues from land sales and leases, an important source of government income, will fall to about $2.5 billion, about $8.4 billion lower than the original estimate and far lower than the previous year, according to Chan.

The sweeping property measures are part of broader plans by Hong Kong’s government to prop up the city amid competition from Singapore and elsewhere. Stringent pandemic controls and anxieties about Beijing’s political crackdown led to  an exodus of local residents and foreigners  from the Asian financial centre.

But tens of thousands of Chinese nationals have arrived in the past year, the result of Hong Kong  rolling out new visa rules aimed at luring talent in 2022.


Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

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