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This Family Turned Down a 50$ Million Property Offer

By Orgesta Tolaj


3 December 2023

50$ million property offer

© 7News

Would you turn down a 50$ million property offer? Well, that is what this one family did in Australia! However, while it might sound ridiculous to turn such an offer down at first, there are reasons why they chose what they chose. And it is up to you whether you agree with their choice or not. But, first of all, let us find out why they refused the offer to begin with.

Who Is the Family Turning Down the 50$ Million Property Offer

In the Ponds area of the Sydney suburb of Quakers Hill, Australia, the Zammits find themselves in a unique situation. They are the lone holdouts amidst a new-build development. Despite their home being situated in the midst of this evolving landscape, the family has adamantly refused to part ways with the property they have called home for the past 17 years.

family turned down 50$ million property offer
© 7News

Surrounded by a sea of two-story brick homes that have emerged as part of the ongoing development, the Zammits’ five-bedroom manor stands as a testament to their determination to preserve their dwelling. Others in the neighborhood have chosen to sell their properties to developers. However, the Zammits remain resolute. They are standing firm in their commitment to maintain their residence amid the changing urban environment.

What Experts Had to Say

Despite the substantial estimated value of their land, which is said to be in the tens of millions of dollars, the Zammits remain steadfast in their decision to retain their property in the face of ongoing development. Property agent Taylor Bredin commended their resilience, acknowledging that most others in the area had sold their properties years ago. Bredin further highlighted the lucrative potential of the 1.99-hectare land. He suggested that it could accommodate around 50 houses, each potentially fetching a million dollars. This values the Zammits’ land at around A$50 million (£26.25 million).

Why Are the Owners Refusing the 50$ Million Property Offer?

The Zammits appear resolute in their stance against yielding to developers in the foreseeable future. They have said that their home will not succumb to demolition. Diane Zammit, speaking to the Daily Mail Australia, expressed a sense of nostalgia and disappointment at the transformed state of the area. Recollecting the past, she described the region as once being characterized by expansive farmland adorned with quaint red brick homes and cottages, each unique in its own right. However, with the ongoing development, she lamented the loss of this distinctive character and the spaciousness that defined the area.

family turned down 50$ million property offer
© 7News

Despite the drastic changes that have altered the landscape around them, Diane Zammit encapsulated the family’s defiance with a simple yet emphatic message to developers: “Tell ’em they’re dreaming!

The Local Residents Agree With Them

Local residents are expressing praise for the Zammits. They are commending their resilience in refusing to sell their property amidst the ongoing development. A neighbor highlighted the positive impact of the Zammits’ decision. They noted that it has contributed to the safety of the cul-de-sac, providing a sense of spaciousness that is particularly appreciated for the well-being of their children. The neighbor expressed gratitude for the Zammits’ choice to retain their home, expressing a hope that they continue to do so.

The 50$ Million Property Offer Rejection Goes Viral

It comes as no surprise that this story recently went viral as well. Here is a video showing the remarkable transformation that has occurred around the Zammits’ property since the adjacent land blocks were sold in 2012.

Would you have sold the house, or kept it like the Zammits have?

You might also want to read: People in Toronto Are Renting Out ‘Half Their Bed’

Orgesta Tolaj

Your favorite introvert who is buzzing around the Hive like a busy bee!