The Zammit family from Australia showed there’s no place like home and turned down $50 million from developers to sell up.
The family has lived in their five-bedroom home for years, and they’ve no interest in moving out.
In fact, when a developer came knocking a few years back hoping to buy the land to build a new residential development, the Zamitts gave a firm ‘no’.
Since then, the Zammit family have been offered millions of dollars for their property but have declined them all.
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The Zammit family turned down $50 million from developers
We’ve seen some hefty price tags when it comes to properties, such as this Bentley penthouse that costs a whopping $37 million, or this unique $18 million ‘invisible’ house in California.
Meanwhile, over in a suburb of Sydney, Australia, the Zammit family has been offered a staggering AUD$50 million – around $32.5 million US dollars – for their five-bedroom house, but they’ve made it clear they’re staying put.
A few years back, developers approached the family hoping to buy the five-acre plot to build a new housing development called The Ponds.
However, the Zammits declined the offer.
Follow-up offers are reported to have run into the millions, but the Zammit family has held firm and refused to move.
Despite refusing to sell, The Ponds development went ahead anyway, and now the Zammits’ family home is surrounded by smaller properties and stands out from the rest thanks to its sprawling green lawns.
Speaking to the Daily Mail, Diane Zammit said the area was unrecognizable from when she first moved in.
“It used to be farmland dotted with little red brick homes and cottages,” she said.
“Every home was unique, and there was so much space – but not any more. It’s just not the same.”
The Zammits’ neighbors support their decision to stay put, with one saying ‘they can do what they want’ and another saying she would ‘do the same thing’ if she lived in the house.
Fair enough.
There’s an interesting twist to the story
While the Zammit family happily turned down $50 million for their home, it turns out there was a time they wanted to sell.
Back in 2023, news.com.au unearthed documents that showed the house was actually placed on the market back in 2015 and 2016.
At the time, the property had a price range of between $858,000 and $945,000 – a whole lot less than the reported $50 million the family was offered just a few years later.
It’s unclear why, but after being on the market for a while, it was removed and the family has remained there ever since.
We’re sure the developer in question is absolutely kicking themselves over missing out.
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