$30m Waiheke property second on Forbes list

When it comes to prestige property prices, the sky's the limit.

Although the Castor Bay and Sentinel properties don't make Forbes' 2006 list of Australia and Oceania's top 10 most expensive properties, they're not too far off.

At number one on the list with a $31 million price tag is Magic Island on Bora Bora, a luxury property which includes two small tropical islands and two solar-powered villas.

Second on the list and the only New Zealand property to make the grade is Waiheke Island's Cowes Bay Estate, a sprawling 36ha property with an eight-bedroom mansion and caretaker's residence. The exclusive $30 million waterfront estate has still not been sold despite a major global marketing campaign over the past two months.

The other properties in Forbes top 10 list of high-priced real estate are:

Number 3: $20.6 million, Mermaid Beach mansion, Gold Coast, Australia.
Number 4: $18.3 million, riverfront mansion, Dalkeith, Australia.
Number 5 (tie): $17.3 million, modern mansion, Runaway Bay, Australia.
Number 5 (tie): $17.3 million, Seacombe Melbourne, Australia.
Number 7 (tie): $16.2 million, Middle Harbour mansion, Sydney, Australia.
Number 7 (tie): $16.2 million, The Admiralty, Gold Coast, Australia.
Number 9: $16 million, Eden Rock, Tahiti.
Number 10: $15.9 million, Baltimore, Sovereign Islands, Australia.