Apartment For 21.8 Million USD, Tokyo, Japan

The earliest apartment buildings were in the major cities of Sydney and Melbourne as the response to fast rising land values. Melbourne Mansions on Collins Street, Melbourne (now demolished), built in 1906 for mostly wealthy residents is believed by many to be the earliest. Today the oldest surviving self-contained apartment buildings are in the St Kilda area including the Fawkner Mansions (1910), Majestic Mansions (1912 as a boarding house) and the Canterbury (1914 - the oldest surviving buildings contained flats). Kingsclere, built in 1912 is believed to be the earliest apartment building in Sydney and still survives.
During the interwar years, apartment building continued in inner Melbourne (particularly in areas such as St Kilda and South Yarra), Sydney (particularly in areas such as Potts Point, Darlinghust and Kings Cross) and in Brisbane (in areas such as New Farm, Fortitude Valley and Spring Hill).
Post World War II, with the Australian Dream apartment buildings went out of vogue and flats were seen as accommodation only for the poor. Walk-up "flats" (without a lift) of two to three storeys however were common in the middle suburbs of cities for lower income groups.
The main exceptions were Sydney and the Gold Coast, Queensland where apartment development continued for more than half a century. In Sydney a limited geography and highly sought after waterfront views (Sydney Harbour and beaches such as Bondi) made apartment living socially acceptable. While on the Gold Coast views of the ocean, proximity to the beach and a large tourist population made apartments a popular choice. Since the 1960s, these cities maintained much higher population densities than the rest of Australia through the acceptance of apartment buildings.