Is it strange to be comforted by the fact that even home sellers with properties approaching or over $100 million are experiencing some degree of difficulty in this tough financial market? Three of the properties which appeared on last year’s Forbes Magazine list of the world’s most expensive homes have been de-listed and one sold with a $25 million price reduction (this happened to be Donald Trump’s residence in Palm Beach, Florida). Although, you must contain your grin as the property still sold for $100 million and earned him close to a $60 million profit in four years.
The Forbes list comes from property listings, high-end brokerages and discussions with real estate brokers and agents. It includes only publicly listed properties currently on the market. Privately listed luxury estates and mansions, found mostly in Europe, may have made the list but they are sold with undisclosed prices.
Here is a selection of homes which made the list this past year:
The 45,000 square foot estate called Fleur de Lys in Beverly Hills, California is modeled after Louis XIV’s Palace at Versailles and is listed for $125 million.
Leona Helmsley’s 40 acre, 21,897 square foot estate in Greenwich, Connecticut is also listed at $125 million.
England’s most expensive property, a 58 acre country estate in Windlesham, Surrey, is listed at $110 million. It includes a bowling alley, indoor squash court and 50-foot theatre. At this time last year, the home was listed at $138 million.
This Lake Tahoe, Nevada home situated on 210 acres was built by Joel Horowitz, a co-founder of Tommy Hilfiger, and is listed at $100 million. It has 20,000 square feet and includes an indoor swimming pool and movie theatre.
The Eurasia estate located in Moscow, Russia is listed at $100 million. It includes an 11,700 square foot main house, two 4,000 square foot guest houses and a 91,000 square foot recreation complex.
Do you think this market will really suffer in the long run, or will there always be those who can step up and purchase luxury (or image) at any cost?