Three-bedroom apartment in Auckland has a $2.3m price tag

A three-bedroom apartment listed for sale in Auckland's Mt Eden is being marketed for $2.3 million.

The apartment with a big price tag is still in the planning stages, and would be built in a Mt Eden apartment block called the Eden View residences.

The agent managing the apartment, which is listed on Trade Me, confirmed to the Herald building would start next year for completion in 2020.

The listing describes the apartment as the "perfect combination of a luxury apartment lifestyle in a sought-after village location".

"Especially designed for young professionals busy surviving in this very demanding world, the older empty nesters looking to do the things they always dreamed of or as an investment for now or later, Eden View is just the right home to buy," it reads.

The floor area is just over 130sq m plus a 110sq m balcony.

The block on Dominion Rd and would be constructed in a "solid British architectural style".

Real Estate Institute chief executive Bindi Norwell said the hefty price tag wasn't breaking any records, but would become the second-highest price paid for an apartment in Mt Eden if it sold for more than $2 million.

"In the past 12 months, seven apartments in Auckland City have sold for in excess of $2 million. The most expensive apartment was in Parnell for $4,125,000 in March 2017," Norwell said.

"Other suburbs to achieve record apartment sales were Grey Lynn, Freemans Bay, Remuera, Epsom and St Heliers."

Norwell said apartments were becoming more popular as people began to realise the benefits of living in a compact environment.

"With the changes to the Unitary Plan and also the recent KiwiBuild announcement more apartments are going to be built, which will create more affordable options for first-time buyers."

Barfoot & Thompson agent Annie Xu was managing the apartment, as well as others in the block.

Xu said apartments within the block ranged in price from around $600,000 to $2.4 million.

About 20 apartments from just over 100 had sold so far, she said, since they were officially listed for sale at the end of March.

Xu said there had been more interest in the bigger-sized apartments, however she expected all of them to sell.

"The owner-occupier is going to buy the bigger apartment and the investor will buy the smaller size," she said.

"For this block, per square metre it's actually quite cheap compared to other apartment blocks.

"In this complex the price starts at $12,000 per square metre in comparison to the usual price of around $15,000 per square metre.

* An earlier version of this article said $2.3 million was the sale price for a one-bedroom apartment. That listing was incorrect and the price applies to a three-bedroom apartment.