It’s not just house prices that are on the move. A three-bedroom penthouse has just been crowned Adelaide’s most expensive executive rental, having been successfully leased to an international tenant for $2400 a week.

Commanding an elevated position atop the 30th floor of the famed Kodo complex, the home’s weekly rent is almost double the average national mortgage repayment of $4085, based on a $600,000 loan.

The home features a versatile, open-plan layout, views across the city, the Hills and seashore and is accessed by a private lift via the ground lobby.

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The home commands an elevated position atop the thirtieth floor of the famed Kodo Complex.

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It offers stunning and irreplaceable views of Adelaide’s rolling Hills, dynamic cityscape and aquamarine foreshore.

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Three good-sized bedrooms make the home ideal for family living.

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It also features an intercom, home automation for blinds, entertainment systems, lighting, ceiling fans and air-conditioning/heating, a built-in entertainment unit with a hidden cocktail bar and exclusive access to communal lawned entertaining areas.

Spanning across 366sqm, the home also offers 38 per cent more living space than the average family home and last sold in April this year for $2.7m, according to property data.

Leasing agent Grant Giordano of Giordano and Partners said the tenancy marked a new era for Adelaide’s luxe rental market with the penthouse attracting a “surprising” amount of interest from prospective interstate and overseas tenants.

MORE NEWS: Adelaide’s most expensive rentals revealed

Open-plan living spaces feature throughout.

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The home is intelligently designed and luxuriously appointed.

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Access to the penthouse is via a private lift.

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PropTrack listings data shows the home was initially advertised with a weekly rent of $2100 and a bond of $12,600 but eventually tenanted for $2400.

“International moves are quite complex … (when you have to consider) banking, visas, schooling and lifestyle considerations,” Mr Giordano said.

“So there is a gap in the market for high quality, luxurious executive rentals that allow people time to sort things out as they move to a new city, country, state.

“There’s also a need for people to find housing who aren’t willing to compromise on quality until they can, for whatever reason, purchase (a home).

“So we’re looking to fill that void that hitherto, the market hasn’t offered.”

Mr Giordano said SA’s luxe rental market was largely driven by executives working in defence, accounting, medical education, mining and engineering.

“The majority of (leases) are done behind the scenes. Our average executive rental price is just under $1500 per week on our carefully curated portfolio and we’re at 100 per cent leased across approximately 50 properties,” he said.