What is Canberra's most expensive rental property?

Canberra’s high-end rent record has been absolutely smashed by a seven-bedroom Red Hill property crashing through the $4000-a-week threshold – and more.

While leasing agency Hayman Partners was unable to confirm the exact asking rent for the property, Allhomes understands it secured an asking price above the $4000 mark.

The previous rental record was set by an eight-bedroom Forrest residence, which came in at $3250 a week.

Emily Antill of Hayman Partners said the Red Hill property on Torres Street was secured by a client who wished to remain anonymous.

“The residence offers seven bedrooms, but you could say it is actually two self-contained homes connected by a common door,” she said.

“It is classic Canberra in architectural style with cedar-framed windows and doors. Inside, it is beautifully appointed in neutral tones with no expense spared.”

Highlights include an open fire in the living area, an entertainer’s dining room and an elegant kitchen with plenty of room for outside caterers to move around if required.

Antill said the configuration of the home with its two connected halves delivered a very flexible floor plan.

“It certainly offers the tenant the option to, perhaps, work in one and live in another, but there are other choices, too,” she said.

The outdoor entertaining area is extensive with plenty of space for garden parties along with, perhaps, the opportunity for some friendly competition on the tennis court. And there’s an in-ground pool as well.

Antill said there was a rigorous process in securing the lease as the residence needed to meet exacting standards.

“Diplomatic staff were involved in the selection process as the residence needed to meet stringent criteria, including security,” she said.

“But it became quite clear that Torres Street was the only possible choice – there’s nothing like it on the market.”

The high-end apartment market is equally buoyant with many asking rents in the $1100 to $1400-a-week bracket, according to sector agent Boris Teodorowych of Boris Property.

“Most of the properties in that bracket are three bedrooms, often with lake, city and mountain views,” he said.

“And most of these luxury apartments are located in the Inner South or the city.”

Teodorowych says clients for these high-end residences were usually drawn from the professional, management and diplomatic ranks.

“Clients include health and medical professionals, defence contractors, diplomatic staff and senior executives,” he said.

The apartment specialist said prospective tenants were looking for a luxurious accommodation that offered plenty of living space along with high fixtures and fittings.

“Views are well-regarded as well as a walkable neighbourhood close to restaurants, bars, cafes, gyms and other recreational options,” he said.

“That’s why the Inner South and the city are popular choices.”

Teodorowych said clients were drawn to developments like the Sapphire at Kingston Foreshore, Governor Place in Barton, and The Apartments and The Capitol in the city.

“These are recognised as premium accommodation options and tend not to stay on the market long,” he said.

The next pricing tier for apartments of between $900 and$1000 a week attracted a different audience, Teodorowych added.

“This is a popular price range on a shared basis between three or four young professionals or public servants,” he said.

“It provides them with a high standard of living at an affordable individual level.”

Teodorowych said the supply of apartments with three bedrooms or more was still an issue, with developers generally preferring to concentrate on rapid-selling one and two-bedroom dwellings.