One thing that this global recession and accompanying housing crash has shown us is that the ultimate in prime property will hold its value, and in fact grow during such times.
We recently profiled the most expensive homes in the world, and compared it to a similar list we compiled in 2008. Not only did this show that the world’s most expensive homes were more expensive on the whole, but because several properties featured in the 2008 list were in the 2010 list with a higher price tag, it also showed that prime property prices had risen.
We will now feature the most expensive homes in the US, as some of these homes appeared on the global list for 2010, we will see what their value has done over the past few months.
The Manor – Holmby Hills, California – $150 million.
The Manor is a 56,500 square foot English-style mansion set on 4.6 acres and owned by Aarron Spelling’s widow. The property features a library, gym, bowling alley, wine cellar, gift-wrapping room and media room. The grounds feature pools, gardens, a waterfall, and parking for over 100 cars.
The Manor was the 8th most expensive home in the world in April.
Fleur de Lys – Beverly Hills, California – $125 million.
At 35,000 square feet, Fleur de Lys pales beside the Manor in terms of size. In terms of splendour however, few can match the 12 bedroom 15 bathroom mansion modelled on the Palace of Versailles. In terms of features, Fleur de Lys boasts a 50-seat screening room, as well as Italian marble and gold-embossed leather walls.
Fleur de Lys was the most expensive home in 2008 according to our list compiled in November.
Tranquility Estate – Lake Tahoe, Nevada – $100 million.
Owned by Joel Horowitz, co-founder of the Tommy Hilfiger brand, Tranquility Estate is the ultimate in luxury, set in 210 acres of Lake Tahoe wilderness. The main-home is 20,000 square feet and includes a cigar lounge, art studio and gym, and a staircase that replicates the one on the Titanic. The grounds feature a golf course and boathouse.
Tranquility Estate has been on the market for four years, and was the fourth most expensive in 2008.
Kaiser Estate – Honolulu, Hawaii – $80 million.
Among other things Kaiser Estate is rich in history, having once been home to industrialist Henry J. Kaiser. The property spans 5.5 acres, split into 3 oceanfront parcels with tropical landscaped gardens forming the grounds. The main-home is 15,000 square feet with beautiful views. The ground also feature a 12,000 square foot boathouse and a marina.
Humming Bird Nest Ranch – Simi Valley, California – $75 million.
Humming Bird Nest Ranch is a gorgeous 123 acre estate featuring a 17,000 square foot Spanish-revival-style main home, ten townhouses, parking for 200 cars, a helicopter pad and a full equestrian facility.
Former Julius Forstmann House – New York, New York – $75 million.
This really is one of the most uniquely special properties on the list; a five storey, 21,000 square foot limestone townhouse in New York’s Upper East Side, with a trendy address near Fifth Avenue. The landmarked building, which was built in 1922 for Forstmann, a German merchant, has retained many of its original features, including the marble staircase and hand-carved mouldings.
Porcupine Creek – Rancho Mirage, California – $75 million.
The owner of Porcupine Creek is selling due to bankruptcy, making this one of the few distressed sales you will ever see in this price range. The property features a 25,000 square foot main home, pool, spa, grotto, gym and a 19-hole golf course that won acclaim from Golf Digest magazine. It went on the market in early 2010.
Other luxury properties on the top ten most expensive list:
1016 Madison Avenue – New York, New York – $72 million.
Three Ponds Farm – Bridgehampton, New York – $68 million.
Robert Taylor Ranch – Brentwood, California – $65 million.
The Canadian Real Estate Association has downgraded its growth forecast. This is no shock in the current climate, but what is shocking is that the CREA is now predicting that Canadian property prices will be falling again in 2011.
