Only a select few walking among us can drop a quarter of one million dollars on rent for the year.
But for the most cashed-up tenants out there — bank accounts presumably spotted with zeroes and commas — money is hardly an issue.
For a cool $4000 per week, a small pool of people are renting sprawling mansions in the city’s most esteemed postcodes.
There are little more than a handful of ultra-luxurious rentals offered on the market at any one time, and they’re typically snapped up within a few weeks.
Multimillionaire corporate climbers, celebrities and wealthy divorcees are likely among those living in Melbourne’s big-ticket rentals. But mostly, they are deep-pocketed foreigners in town for work, according to Mr Boon.
“They come from overseas, their company is paying for it,” Mr Boon says. “It’s a corporate market we’re talking about.
“They’re not your average Joe.”
Mr Boon is finalising the lease of a grand, seven-bedroom Toorak residence. A property developer is set to rent the magnificent estate at 48-50 Hopetoun Road for $3350 per week.
What sealed the deal? “It’s very hard to find anywhere with a tennis court,” Mr Boon says.
But this opulent home is not the most expensive rental currently on the market in Melbourne.
That crown belongs to an elegant mansion on Walsh Street in South Yarra.
Boasting five bedrooms, three bathrooms, a marble kitchen and a pool, the newly-listed property is advertised for $4000 per week. Bond is an eye-watering $24,000.
With exorbitant sums of money on the table, it can be secretive business involving VIP movers and shakers from around the world.
“A lot of the transactions aren’t made public,” Mr McMullin says. “The property doesn’t even hit the internet.”
His clients are private, high-net-worth individuals who are typically in town for at least a year.
“Generally they’re longer term, not short term,” he says. “You might have a CEO from a major company relocated to Melbourne for a two or three-year contract.”
Melbourne certainly doesn’t take the title for the most expensive rentals in Australia. In Sydney, it’s not uncommon for beachside mansions to fetch in excess of $7000 per week.
But it’s overseas where the ultra-luxury rental market has truly soared to new heights.
In New York, a penthouse apartment can come with a $27,000-a-month price tag.
Not for your average Joe indeed.