PHOTO: 3603/1 Almeida Cres, South Yarra is one of four lavish apartment listings worth more than $5 million to have hit the market recently. Source: Supplied

Lavish penthouses have hit Melbourne’s market in recent weeks with price tags between $5-$10 million. And agents are reporting plenty of confidence at the city’s top end, despite COVID-19.

An almost $8 million South Yarra apartment has joined three other pricey penthouses on Melbourne’s market that have hit Melbourne’s market in recent weeks.

Cashed-up buyers on the hunt for a luxury sky mansion are spoiled for choice, with the four lavish listings ranging from $5.3 million to $9.995 million.


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And agents are reporting there’s still plenty of confidence in the city’s top end, despite general market uncertainty due to COVID-19.

The four-bedroom, three-bathroom apartment at 3603/1 Almeida Cres, South Yarra is the latest up-market apartment offering to hit the market.

The brand-new home occupies half a floor in the recently-completed six-star Capitol Grand, and has a $7.88 million price tag.

Views of the city skyline and Port Phillip Bay are highlights of the pad, as is the kitchen fitted with Gaggenau appliances including three ovens and two dishwashers.

The owners will also have access to the Azure Club facilities, which include an infinity-edge pool and spa, state-of-the-art gym, and dining room with catering facilities.

Kay & Burton South Yarra agent Michael Gibson said the market had remained resilient.