Rose Bay, Sydney, Australia

Rose Bay is a premium area of a premium city: Sydney, Australia. This eastern suburb hugs a bay of the same name and offers easy access--including ferry service--to the central business district, just a few kilometers away.

It is a well-established community with a relaxed lifestyle. Relaxation isn’t difficult when views are transfixing. Beachfront trophy homes look out onto Sydney Harbour, the iconic Sydney Harbour Bridge and the city skyline.

Still, there’s much here to engage residents. Rose Bay features two golf courses, the public 9-hole Woollahra Golf Club and the private 27-hole course at the Royal Sydney Golf Club. Waterside dining, a trio of parks and a beach all contribute to a way of life that embraces the outdoors. A popular eight-kilometer coastal Harbour Walk cuts through beaches, reserves and parks between Rose Bay and Watson Bay. And when residents aren’t overlooking the water, they’re out on it in yachts, kayaks and paddleboards.

Sometimes they’re above the water, too. Seaplanes are a common sight along the Rose Bay coast. They’re part of the neighborhood’s history. Rose Bay was once the site of Sydney’s first international airport, a water airport for “flying boats” that could take off and land on water. After World War II, the advent of jet travel triggered the demise of flying boats as a dominant means of transportation. However scenic seaplanes still fly from Rose Bay.

Demand is traditionally high for real estate in Rose Bay. Buyers can choose among Art Deco homes, modern mansions, whole-floor apartments and penthouses. Sydney’s eastern suburbs, Rose Bay included, are among the city’s most exclusive property markets. Buying and selling at auction, rather than in private transactions, is common.