The Buying Price per Square Metre, the Rent per Month (sq. m.),...

• The Buying Price per Square Metre, the Rent per Month (sq. m.), and the Gross Rental Yield are based on our yields research (see DATA FAQs). Figures are typically based on the average for a 120 square metre apartment (in most locations – see mouse overs). The apartments are typically in a prime inner city area, except in the Caribbean or Pacific.

"Australia: Square metre prices, premier city centre, US$. Average per square metre (sq. m.) prices in US$/€ of 120-sq. m. apartments located in the centre of the most important city of each country, either the: Administrative capital; and/or Financial capital; and/or The centre of the rental market"

Where does it say luxury?
Surry hills, paddington, darlinghurst etc, very nice 2 bed apartments are around $1m. = $8,333 per sqm.
Hardly $34,000 per sqm.