Three Of Sydney CBD's Most Luxurious Penthouses

The last few years has seen a considerable uptake in apartment living across Sydney, notably in the prime market as driven by a slew of new luxury developments.

It’s meant recent Australian sales records – cue Crown’s One Barangaroo and its waterside neighbour, One Sydney Harbour – as purchasers look to secure a standout property and also embrace the benefits of expansive inner-city living.

While the penthouses of the aforementioned towers are now gone, there remains some unique, cloud-catching CBD abodes available.

Here, three of the best to purchase now.

3303/203 Castlereagh Street, Sydney, NSW 2000

The Castle Penthouse, located in Castle Residences and designed by Candelepas & Associates architects, sees a 4-bedroom, 4- bathroom, 2-car parking residence delivered in the heart of Sydney’s CBD.

Here a rooftop terrace boasts breathtaking views over Hyde Park and the city skyline, with an extensive and undoubtedly luxurious finish by Studio Aria ensuring it is one of the finest properties in Australia.

The penthouse is reached via a private lift, through a double door entrance and sees opulent finishes including the use of stone benchtops, large porcelain tiles and bespoke joinery.

Expect an open-plan design, leading outwards to the buildings highly desirable winter gardens. It’s here you’ll find an opulent kitchen, complete with Gaggenau appliances.

The penthouse is also offers a master bedroom that spans the top floor, and opens out to a sky garden with decked spa.

Those fortunate to call Castle Residences home will also enjoy various hotel amenities – such as pool and gym access as well as desirable in-house dining sourced via restaurants such as Henry’s Bread and Wine, Dixon & Sons and Spice Trader. Meanwhile, housekeeping, concierge, valet parking and 24-hour security are all accessible via in-house app.

The property is expected to welcome residents from end of August 2021.

The listing is with McGrath Pyrmont’s Robert Alfeldi (+61 418 982 688); mcgrath.com.au

Level 43/163 Castlereagh Street Sydney NSW 2000

Much has already been written about the Boyd Residence. The grand, lavish, award-winning penthouse sits some 180-metres above street level offering. 2395sqm in the heart of the CBD.

Spread across three levels comes 4-bedroom, 5-bathrooms and 2 car parking. Inside sees unprecedented levels of privacy and opulence, with 24-hour security.

Accessed via private lift, it opens to a glass wall with built-in champagne storage. Elsewhere a sleek fireplace, multiple seating groupings and walls of glass take in the panorama of the city.

Each bedroom suite arrives with a marble bathroom, while the rest of the residence is framed by double-height ceiling and dramatic walls of glass.

Also, a resort-style private rooftop pool tops the living space, adding further luxury to the pad.

The listing is with Christie’s International’s Ken Jacobs (+61 407 190 152) and LJ Hooker Double Bay’s Bill Malouf (0411 428 354); theboydresidence.com.au

83.01/115 Bathurst Street, Sydney, NSW 2000

Known as the ‘King’ Penthouse, comes this luxurious pad inspired by the global cities of New York and London.

Here, at the very pinnacle of the Greenland Centre tower comes panoramic views of the CBD, Blue Mountains, Hyde Park and Sydney Harbour.

The 4-bedroom, 4-bathroom, 4-car parking penthouses offers sophisticated details, with glamorous stone island benchtops in the kitchen and concealed scullery, to towering balconies overlooking Sydney.

The master bedroom features an opulent dressing room that opens to reveal handsome timber-panelled interiors with wide drawers and open display shelving for all your finery, handbags, watches, belts and scarves

The master bathroom is cloaked in emerald green marble and features high-quality fixtures, a free-standing bath and heated towel rack bringing minimalist glamour while a soaring skylight adds luminous radiance.

Further amenities include a 30-metre outdoor pool, gym, spa, sun deck, and multi-function residents’ room.

Contact Ben Stewart (+61 412753740) of CBRE for more information; thegreenlandcentre.com.au

Australia’s luxury property market is being quietly reshaped by one of the most significant wealth expansions in the world.

According to Knight Frank’s latest Wealth Report, the country’s billionaire population is set to grow by 77 per cent over the next five years, rising from 48 to 85 individuals.

That surge sits within a broader wave of wealth creation. Ultra-high-net-worth individuals, those with more than US$30 million, are forecast to increase by nearly 60 per cent to over 26,000 Australians by 2031.

Globally, the pace is accelerating. The report reveals that 89 new ultra-wealthy individuals are created every day, a figure that underscores a structural shift in capital formation rather than a cyclical upswing.

For luxury property markets, this is not just a headline number. It is a demand driver.

Australia’s wealth story is increasingly underpinned by diversification across resources, finance, technology and services, creating a depth of private capital that is both mobile and strategic.

And mobility is key. The ultra-wealthy are no longer tied to a single market. Instead, they are operating across multiple global hubs, maintaining footholds in cities like London, New York and Singapore, while using Australia as a stable base.

In this environment, real estate becomes less about shelter and more about positioning. Trophy assets remain desirable, but capital is increasingly being deployed across the full risk spectrum, from long-term holds to value-add opportunities. For Australia, the implications are clear. As wealth expands, so too does the expectation of product, and the locations that can attract it.

The billionaire effect

While property remains central to wealth preservation, the latest data shows that capital is increasingly spreading across luxury asset classes, albeit with a more disciplined approach.

Knight Frank’s Luxury Investment Index recorded a modest 0.4 per cent decline in 2025, signalling a stabilisation phase after several years of correction.

But beneath that headline number is a more telling shift. Collectors are moving away from speculative buying and toward assets defined by rarity, provenance and cultural significance.

Impressionist art led the market, rising 13.6 per cent, buoyed by landmark sales including a US$236 million Klimt painting. Watches also performed strongly, up 5.1 per cent, driven by continued demand for brands like Patek Philippe and Rolex.

At the same time, more volatile categories have corrected. Whisky values fell 10.9 per cent, while parts of the fine wine market have softened following pandemic-era highs.

Perhaps the most notable trend is behavioural. Younger investors are entering the market through fractional ownership platforms, gaining exposure to high-value assets that were once out of reach.

For property, the parallels are clear. The same focus on scarcity, narrative and long-term value is increasingly shaping buying decisions at the top end of the residential market.

Global wealth

The growth in billionaires is not just increasing demand, it is changing where that demand is directed.

In Australia, Brisbane has emerged as one of a handful of global cities experiencing rapid change in its luxury positioning. The city’s transformation is being driven by infrastructure investment and the 2032 Olympics, with top-end apartment prices rising from around US$6 million to more than US$10 million in just 12 months.

Luxury price growth has remained steady, with Brisbane rising 2.1 per cent in 2025, while the Gold Coast recorded 2.8 per cent.

At the same time, buying power is tightening. US$1 million now buys 5 per cent less in Brisbane than it did five years ago, reflecting the upward pressure on prime markets.

The trend is not confined to capital cities. Regional lifestyle markets are also capturing attention. Geelong’s waterfront has been identified as one of the world’s hottest luxury residential markets, driven by a combination of coastal amenity, infrastructure and relative value.

In these markets, pricing is no longer the sole driver. Lifestyle, accessibility and long-term growth are increasingly shaping buyer decisions, particularly among globally mobile wealth.

Alternative luxury assets

Beyond residential property, high-net-worth individuals are continuing to diversify into alternative assets that combine lifestyle and investment potential.

One of the most compelling examples is vineyard investment. Knight Frank’s Global Vineyard Index highlights the Barossa Valley as one of the best-value wine regions globally, where US$1 million can secure more than 18 hectares of land.

Despite a 10 per cent decline in land values over the past year, the broader outlook remains positive, particularly as the global wine industry shifts toward premiumisation.

This “trading up” trend is seeing consumers favour higher-quality, provenance-driven wines over mass-market products, reinforcing the long-term appeal of established regions like the Barossa and Eden Valleys.

For investors, the appeal lies in the intersection of lifestyle and capital preservation. Vineyard assets offer not only production potential, but also a narrative — something increasingly valued in a market where experience and authenticity carry weight.

Three Of Sydney CBD’s Most Luxurious Penthouses

Sydney’s prestige market is looking up, here’s three of the best on the market right now.

Australia’s wealthy class is expanding fast, and Knight Frank says that a surge in billionaires is reshaping the nation’s luxury property market.