I would be inclined to go with an unobtrusive light since it's the living room and anything too dramatic or a hanging pendant may interfere with your peripheral vision (or otherwise be an annoyance) when you're watching TV, etc. Also, being so near the sliding door, the wind may cause a hanging pendant to swing quite a bit which will cause the lighting to be constantly shifting and changing which I would personally find annoying. I'd go with something simple and subtle, but look at getting a tall standing lamp for the corner near the sofa (or possibly at the other end of the floating TV cabinet). In terms of warming up the apartment, I think you need something on the bare walls. A smaller picture above the floating TV cabinet will help to take the focus off your TV. A larger art work behind the sofa will also help to add some colour and personality, especially if it picks up some hues from your sofa. If you don't like the little Buddha statue, I would look at adding one or two other items that you do like (perhaps picking up colours from the wall art) and making a little vignette. A couple of colourful cushions and a storage solution for the wires, games console, etc on the floor would also help to bring everything together. Something as simple as a woven basket under the floating TV cabinet might help to keep the games console, etc in place unless it is in use.

I actually really like the festoon lights! Fairy lights remind me too much of Christmas to have as an all year round feature.

I share you concerns with the look of the light. I lived in Cairns for a while and many restaurants etc had high ceilings with lights and fans with a more traditional look. Maybe you could do some internet stalking of hotel websites etc. I'd start with Palm Cove. Good luck.

If you are in New Zealand, I have often found great lights (and a big range) at Lighting Plus. When I was putting my house on the market I put three of these: http://www.lightingplus.co.nz/lighting/pendants/contemporary/jaga-bcopal-1light-pendant.html over my kitchen benchtop, and they looked just gorgeous. So gorgeous in fact, that I have already bought three new ones in advance for when I upgrade the kitchen lighting in my new house. They also have these : http://www.lightingplus.co.nz/lighting/pendants/contemporary/hudson25-whitegold-1lt-pendant.html or these: http://www.lightingplus.co.nz/lighting/pendants/contemporary/trumpet35-pendant-blackgold.html  if you like the look of the internal gold under the shade. There are also others similar. I have also found some great lights at : http://www.edenlighting.co.nz/collections/pendant-lights . All of these are very affordable. However if you want to go really high end, and you like NZ timber lights, you can't go past : https://www.davidtrubridge.com/collection/lighting/  Just my 2c. Enjoy.