The most expensive land in Australia might be graves. In this article, Urbis Senior Consultant Kate Ryan, explains why to Domain News.
Inch-for-inch, Australian burial plots are among the most valuable real estate in the country.
And with one-third of all dearly departed Australians opting for burial over cremation, current projections have several Australian cities running out of space in 20-30 years.
And with a 2sqm grave in Melbourne General Cemetery already costing $14,585 – a “platinum” grave costing three times that not including funeral costs – and a resting place in Sydney’s Rookwood, the largest cemetery in the southern hemisphere, running from $8000-$40,000, prices could rise as space runs out.
Two problems are leading to the shortfall, according to UNSW and Urbis researcher Kate Ryan.
First, while graves in Adelaide and Perth are rented for 25, 50 or 99 years, those in Melbourne, Sydney and Brisbane are permanent – the crowded east-coast cities may soon need to follow the lead from the west.