Barangaroo is a place where physically, socially and even in the super-secretive way its ultra-expensive apartments - one on the market for a reported $100 million - are being marketed is unlike anything we've seen before.
The growing number of ultra-rich Australians fuels demand for prime real estate like the Crown Residences at One Barangaroo in Sydney. It's understood the entry price for an apartment at the Crown Residences is $9.5 million.
There will be no garbage trucks on the streets of Australia's newest neighbourhood. No corner store or supermarket. And no traditional air-conditioning. Instead there will be a vast underground engine room pumping sea water through four skyscraping towers to keep residents cool, a cutting edge system of water recycling and solar rooftops that will help make it the country's first carbon neutral suburb.
Welcome to Barangaroo, a place that physically, socially and even in the super-secretive way it is being sold is unlike anything we've seen before. Emerging from a concrete wasteland between Sydney's CBD and Darling Harbour, by the time Barangaroo is complete in 2024 it will be home to 3500 residents.
Ingrid Fuary-WagnerExplainer editorIngrid Fuary-Wagner was The Australian Financial Review’s explainer editor.
Su-Lin TanReporterSu-Lin Tan reported on housing, commercial real estate and property finance. She also covered China and Asian business, trade and politics. Connect with Su-Lin on Twitter. Email Su-Lin at stan@afr.com.au
