Nothing to show halfway through Villa del Mare, Point Piper's 90 day FIRB divestiture order

Nothing to show halfway through Villa del Mare, Point Piper's 90 day FIRB divestiture order
Jonathan ChancellorDecember 7, 2020

Tomorrow will mark the halfway point of the 90 day divestiture order Treasurer Joe Hockey announced to force the sale of the $39 million Point Piper trophy home, Villa del Mare.

Nothing publicly has occurred, so who knows what face saving options are being considered by the billionaire owner Xu Jiayin (許家印 also known as Hui Ka Yan).

He is estimated by Forbes to be worth about $7 billion, so he can afford the best minds to attend to the outcome. 

Nothing further from the Treasurer either on his crusade to make houses more affordable for first home buyers.

The Point Piper gossip suggests neither past selling agents Bill Malouf and Ken Jacobs have taken through any prospects since the March 3 Federal Treasury order.

The Sydney property agent Monika Tu didn't help when she volunteered she had three buyers only prepared to pay around $35 million for the Point Piper mansion.

She has a nearby trophy home listing that had been priced on the maintenance of the $39 million figure.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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