South Yarra Real Estate
South Yarra & Prahran Suburb Profile
These luxurious suburbs marry two of Melbourne’s most desirable suburbs.
South Yarra and Prahran areas present a hub of culture and relaxed lifestyle characterised by the plethora of restaurants, cafes, bars and shopping available to residents.
As affluent young couples gravitate to the liveliness of the inner suburbs, property developers are keen to create stylish apartments with an abundance of opportunity for investment. The Block recently filmed the renovation of four apartments in this highly desirable area.
Covering the span of the iconic Chapel Street, the dynamic atmosphere that the area offers means that it is a key interest point for developers. South Yarra’s extensive shopping and entertainment offering has the best trendsetters flocking to the area. Aside the shopping district, South Yarra boasts well-preserved terraces, chic riverside apartments, and manicured mansions from days past.
As one of the most sought after suburbs, South Yarra continually progresses forward with constant interest from developers. Developers are also jumping on-board medium-density ‘shop-top’ apartment projects to maintain the area’s relaxed appeal while it grows.
Because of its trendy and lively vibe, South Yarra’s has thriving investment property opportunities, with high demand pushing the median rental price to $650 per week. Houses regularly fetch over $1M in this sought after area, making it an enviable location.
One of the smaller suburbs in the South-Eastern area, Prahran lays claim to a diverse and vibrant community that appeals to buyers and existing homeowners. With proximity to both city and beaches, properties offer a convenient and flexible lifestyle to those who live there.
The suburb possesses a mixture of properties from Victoria’s rich history to ultra modern, Prahran presents itself as an enclave where kickback culture and glamour meet.
Prahran has seen rising demand and caught the attention of property buyers with its median property price having recently grown to the $1M benchmark