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I think you're paying for the courtyard, that's pretty rare for an apartment. I looked at renting one of these a few years ago, from memory it was around 350pw, but it would be more like 450 now. Compare this with a 2x2 in the city for 40k less...

I love living in the city, but I'm East Perth rather than CBD. You may find the same size/age/style apartment in somewhere like Mt Lawley or Highgate would be more expensive given the amenities in those areas compared to the Esplanade. The good thing about those ones on the espy is they are...