Some teenagers are clearly getting way too much pocket money if they can afford a couple of cool mill for a massive mansion!
An eighteen-year-old student is listed as the official buyer of a gorgeous French-style home with seven bedrooms and a lake in leafy Dural, in the Hills District of Sydney.
Shuxin Zhou, the daughter of Chinese businessman Jianming Zhou, handed over $4.95m for the 5-acre property, $3,274,500 above the Dural median house price, as reported by Realestate.com.au.
In addition to the sale price, the teen would have had to cough up an additional $681,283 in stamp duty taxes for the Dural home, including $396,000 of foreign buyers tax.
Not A Rookie Buyer
It has been revealed that Ms Zhou is not a rookie landowner as she sold a gynormous $11.5m mansion in Warrawee on the upper north shore in December last year.
The agent responsible for the sale of the Dural property is Lynette Malcolm from Chadwick Real Estate, who also worked with the teen on the sale of the Warrawee property.
Ms Malcolm spoke to 7 News last year saying that the teenager, who lives with her mother, was in Australia as a student attending a private school. Her visa permitted her to purchase Australian property.
“It works well for a lot of overseas students coming to study locally. Often they are the only one in the family who can legally purchase a property,” Ms Malcolm told 7 News Sydney.
The Chinese student will certainly have plenty of room for parties in her new Dural home which includes a butler’s kitchen with a cool room, a sauna, home office, gym and commercial-grade laundry.
The property previously sold for $4.9m in 2016, according to CoreLogic reports and was rented out for $2,250 a week.
Did She REALLY Buy It?
Reading about the extravagant purchase, Facebook fans were unimpressed. And weren’t at all duped by the teen buyer.
“What a load of BS she didn’t buy it her parents did under the loop hole,” said one.
“I think you mean mum or dad bought it and put it in her name,” said another.
“An 18 yr old girl didn’t buy it, she was just her dads pawn to buy property in Australia. This needs to be stopped NOW,” exclaimed one irate commenter.
Not A Bad Thing
Others thought the purchase was beneficial to our country:
“Er.. so Australia received an injection of millions of dollars over the over inflated price of property and people are upset because..?,” offered one person.
Always Look On The Bright Side…
Other comments gave us the giggles:
“What, no helipad?” joked one.
“What a bargain, turrets are highly sort after. Very important to have access to a high vantage point to ward off unwanted visitors. Should have been in the $6m price guide!” offered someone else.
What do you think of this home purchase? Do you know any teens who could afford a multi-million dollar mansion? Tell us in the comments below.