A grand Wellington mansion owned by a former Russian politician could be changing hands very soon.
The seven-bedroom hillside lodge at 19 Monteith Grove, in Brooklyn, hit the market in September last year with an asking price of $5.5 million.
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The price dropped to $3.95 million before the end of the year and the house is now under offer, according to the listing on OneRoof.co.nz.
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Ben Hawan, from New Zealand Sotheby's International Realty, says there had been surge of interest in the property on the back of the price drop.
"We had interest from overseas buyers but most of enquiries were from Wellingtonians," he said.
The house is quite striking and cascades down a large 2278sq m section with panoramic views of the city.
It is owned former Russian politician and journalist Vadim Boyko, who made New Zealand his home in the mid-2000s.
The residence was used as a short-term luxury accommodation with prices starting from $1650 per night. Photo/ Supplied
Boyko spent millions turning the original two-storey residence into a five-level luxury lodge and spa retreat. The house is a mixture of styles from around the world, from Italian marble and South African hardwood floors to Persian rugs and British antique furniture.
The property has a glass cable car connecting all five levels and boasts a resort-like bar, a theatre, gym and billiards room, indoor heated pool and a spa with steam rooms.
Hawan told OneRoof that people either absolutely loved the design of the house or didn't.
One of the five levels of 19 Monteith Grove is dedicated to an indoor pool, spa and a steam room. Photo / Supplied
The interest in 19 Monteith Grove comes amid a surge in Wellington's housing market. The city’s median property value hit a new high of $990,000 last month - up 28 percent over the year.
The boom has been resulted in some sky-high prices, with the wealthy enclave of Oriental Bay becoming the city’s first $2 million suburb.
Wellington's highest settled sale price last year was $5.75 million for a six-bedroom property at 7 Clive Road, in Khandallah.
That record could be eclipsed by another luxury Wellington property that hit the market late last year.
The owners of 46 Hobson Street, in Thorndon, is seeking offers of over $6.5 million - down from $7.95 million when it was originally listed in October.
The house at 46 Hobson Street, in Thorndon, Wellington is a rarity in the capital’s housing market. Photo / Supplied
Tommy's Real Estate agent Phil Mears says the refurbished villa ticks every box for modern living.
The house sits on a large freehold 1911sq m site in the heart of the city.
“It’s pretty rare to have a large flat piece of land in the middle of the city. Wellington is geographically challenged with hills and there’s not a lot of flat land,” he said, adding that property is split over six titles which provides buyers the opportunity to develop and sell each title separately.
