They Rejected the Contractor's $50 Million Offer: The Value is Now Known

The Australian Zammit family, who rejected offers of up to 50 million dollars from contractors to buy their house and 5-acre plot, say they will continue to resist.

Publication: 26.11.2023 - 11:23
They Rejected the Contractor's $50 Million Offer: The Value is Now Known
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What's the true worth of a family home? For the Zammit family near Sydney, it seems to be beyond any monetary value. Surrounded by a newly developed suburb, their property stands out. They've steadfastly declined a staggering $50 million from developers eager to acquire their land.

Diane Zammit, reflecting on the area's transformation from farmland to uniform housing, remains nostalgic. "It's just not the same," she remarks, emphasizing the uniqueness of their home amid the sea of identical properties.

Originally valued between $858,000 and $945,000 in 2015, the Zammit's home briefly appeared on the market, as per RP Data and Mail Online. Despite its short listing period, they've not relisted since developers expressed interest.

The astronomical offer, more than 50 times the house's initial value, reflects the potential to construct up to 50 new homes, each possibly selling for around $1 million.

Local residents praise the Zammits' decision, valuing the open space and safety their property provides in the neighborhood. "We're very grateful! I hope they stay," says one neighbor.

Real estate agent Taylor Bredin from Ray White Quakers Hill admires their resilience, acknowledging that most sold out long ago. "They're definitely stronger than I am," he comments."

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