Ex-AFL chief Andrew Demetriou and media mogul Antony Catalano have revealed major price reductions for high-end Melbourne homes.
Some of Melbourne’s biggest business names have taken multimillion-dollar price cuts on their home sale hopes as Melbourne’s luxury property market kicks into gear for 2026.
Real estate media guru Antony Catalano made a splash with front page newspaper advertising wraps for his Saint Moritz penthouse last year, then listed for $33m-$36m.
It’s now asking $29.95m, less than the $30m he is understood to have paid for the home which was built by high-profile developer Tim Gurner in 2022.
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And former AFL boss Andrew Demetriou’s Toorak home is back on the market after failing to find a buyer with a $15m-$16.5m asking price.
Today the six-bedroom luxury address is being offered for $13.5m-$14.5m, with a handful of new images of the home giving further insights into what buyers will get.
A handful of other high-profile listings, including the Myer Family’s landmark Toorak family estate Cranlana as well as Solomon Lew’s daughter Jacqueline’s Toorak mansion, are also still on the market after launching last year — without change to their price expectations.
The Saint Moritz penthouse being sold by Antony Catalano in St Kilda has incredible views. Picture: Luxico.
Stefanie and Antony Catalano are selling the home after just a few years living in it.
Marshall White’s Marcus Chiminello has Mr Catalano’s home for sale, with the listing showcasing six bedrooms, seven bathrooms its own pool and private terrace spread over two impressive levels.
An entertainer’s retreat that opens to the homes main outdoor space comes with a curving full scale bar, and there are eight carparking spaces in the basement garage.
The former boss of Domain real estate group and an executive chairman at View Media Group, Mr Catalano is understood to be building a $55m mansion in Byron Bay.
His striking St Kilda home is built into the Saint Moritz development that replaced the Novotel hotel built on the grounds of the former Saint Moritz ice-skating rink.
The home is also available for rent at a whopping $8300 a night. Picture: Luxico.
The home is perfectly set up for entertaining. Picture: Arsineh Houspian.
At the time of the initial listing, Mr Chiminello said it was the “first time something like this has been sold as a finished product”.
It sprawls over 700sq m, and has access to the developments impressive array of amenities and resident facilities ranging from valet parking to a concierge.
Other famous faces to buy into the complex included the late Shane Warne, and football identity turned firebrand commentator Sam Newman.
Mr Chiminello is also handling the Demetriou’s property, which was quietly pulled from listing sites late last year before returning online today.
Andre Demetriou spent years as the head of the AFL. Picture: Aaron Francis.
The Demetriou family’s impressive Toorak home has plenty of space to entertain, inside and out.
The 1930s-built property was redesigned by David Hicks after Mr Demetriou and wife Symone Richards bought it in 2019.
It features a three-storey floorplan, including a basement garage and laundry, multiple living zones on the ground level and all six bedrooms, as well as three bathrooms, a retreat and a pair of terraces for the main bedroom, on the top floor.
Additional features include a butler’s pantry, swimming pool and proximity to some of Melbourne’s best regarded private schools.
A walk-in wardrobe attached to the main bedroom could be mistaken for a high-end department store.
Open-plan living spaces provide a mix of natural light and room to spread out.
The Demetrious and Mr Catalano are not the only well-known figures whose properties have lingered on the market.
The Myer family’s grand Toorak property named Cranlana is still awaiting a new owner more than 450 days after first being listed in October 2024.
The historic 1.14ha estate, located at 62-62A Clendon Rd, has a $96m-$105 price tag.
And the daughter of billionaire businessman Solomon Lew, Jacqueline Lew, is cooling her heels since putting her European-style Toorak mansion up for sale with a $20m-$22m range in October 2025.
Records show the six-bedroom house remains on the market 98 days later.
Across in South Yarra, an Art Nouveau terrace which belongs to the former co-owner of The Espy hotel, Vince Sofo, is also still for sale.
It has been on the market for 120 days, since May 2025.
Initial reports suggested the house had a $33m asking price but that has since been cut to $29.95m.
Morrell and Koren buyer’s advocate Matthew Cleverdon says many properties at Melbourne’s top end sell off market.
Morrell and Koren buyer’s advocate to Melbourne’s top end, Matthew Cleverdon, said some owners of multimillion-dollar homes saw value in reshaping their pricing strategies to meet buyers’ expectations when listing for a second time.
He added that Melbourne represented good value for many well-off interstate-based buyers with Victoria’s capital offering larger and more impressive houses at affordable prices compared to other cities such as Sydney and Adelaide.
Mr Cleverdon said many prestigious properties were sold off market with one agent selling about 25 abodes across Greater Melbourne which were not publicly listed in 2025.
“Little do some buyers know that in some areas, about 50 per cent of properties are listed off market,” he said.
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