The $10K Day

Here’s How to Have One Spectacular Day in Sydney

By Adam Erace
<h1>Australia</h1> In the land down under, home prices are rising quickly, prompting the International Monetary Fund on Wednesday to caution that the recent surge in property prices could cause values to "overshoot." In Sydney, the nation's most populous city, the average home price rose by 13% so far this year to a record $718,122. That's higher than London, where the average is $536,236 and close to New York, where the average is $806,000. The IMF stopped short of saying there's a housing bubble in hot housing markets, including Melbourne and Brisbane, but urged regulators to keep a closer eye on property investments to ensure banks maintain strict lending standards. In September, Australian central bank officials advised lenders against being too eager to offer mortgages to customers, saying record-low interest rates risked fueling a rise in speculative buying.

Australia

In the land down under, home prices are rising quickly, prompting the International Monetary Fund on Wednesday to caution that the recent surge in property prices could cause values to "overshoot." In Sydney, the nation's most populous city, the average home price rose by 13% so far this year to a record $718,122. That's higher than London, where the average is $536,236 and close to New York, where the average is $806,000. The IMF stopped short of saying there's a housing bubble in hot housing markets, including Melbourne and Brisbane, but urged regulators to keep a closer eye on property investments to ensure banks maintain strict lending standards. In September, Australian central bank officials advised lenders against being too eager to offer mortgages to customers, saying record-low interest rates risked fueling a rise in speculative buying.
Photo: Damien Te Whiu/Getty

We asked Benjamin Stephens, the concierge of QT Sydney hotel, to plan us a single, spectacular day in Sydney …

More: See Fortune’s interactive guide to Sydney here:
A Concierge’s Black Book — Sydney

1. Breakfast at the Boathouse

I recommend you start your day with a seaplane from Rose Bay to Palm Beach, on the Northern ­Beaches. Head to the Boathouse for a breakfast on the back of the wharf for the best views.

Cappuccinos at The BoathouseCourtesy of The Boathouse

2. Lunch on superyacht

After a flight back over the city, I would have the crew from my favorite superyacht, Oscar 2, meet you and take you around the harbor to see the best the city has to offer. After you anchor in a bay of your choice, the yacht’s executive chef, John Rankin, will prepare lunch on the top deck.

Oscar 2Courtesy of QT Sydney

3. Shopping at Paddington

Afterward do some shopping, from the Queen Victoria Building to the higher-end labels of Paddington, with a personal driver.

Shoppers fill the Queen Victoria Buildin Shoppers fill the Queen Victoria Building’s prestigious retail outlets in Sydney.Torsten Blackwood—AFP/Getty Images

4. 10-course dinner at Tetsuya’s

Retire to the State Suite at QT Sydney before dinner at Tetsuya’s—a 10-course experience that will show you the best in Japanese-French fusion cooking—followed by some top-shelf whiskey at Baxter Inn.

Baxter InnCourtesy of Baxter Inn

Visit fortune.com/blackbook for more travel guides and insider tips.

A version of this article appears in the May 1, 2016 issue of Fortune with the headline “The $10,000 Day.”