Forbes World's Most Expensive Homes 2007
02.22.07, 12:01 AM ET
Along
Others range from landed estates throughout continental Europe to nature preserves in
These are some of the world's most expensive properties, and the prices are as unique as the homes. Saudi Prince Bandar bin Sultan's Aspen ski lodge lists for $135 million, while 6,000 miles away, a 64-room Istanbul waterfront mansion asks $100 million.
In Pictures: Top 10 Most Expensive Homes In The World
Video: A Tour Of The World's Most Expensive Home
"You're definitely talking about the highest end of the market here," says Joshua Saslove of Joshua & Co., an Aspen, Colo.-based affiliate of Christie's Great Estates. "The net worth of the buyers and the sellers is such that they can do whatever they want."
Feeling a little less flush? A modest $18 million will get you
Buyers' Bios
Whether they're plunking down $20 million or close to $200 million, in
They are wealthy globetrotters looking for a second, third or fourth home, and don't mind gassing up the jet if it means owning a beautiful property. Americans, Arabs and Europeans have long bought getaways across the globe, but increasingly the rising wealth in China, India and Russia is raising the world's luxury watermark.
And while no one besides Indian steel tycoon Lakshmi Mittal has ever shelled out more than $100 million for a home (he did so in 2005, when he snapped up a Kensington townhouse for $127 million ), there are plenty available.
Dream Homes
Though it hasn't yet been built, Tim Blixseth is asking $155 million for his planned Montana lodge. He says that several members of the Forbes 400 have already expressed interest in what will be a 53,000-square-foot stone-and-wood mansion in the billionaire's members-only Yellowstone Club.
But until Blixseth finishes construction in 2008, this year's top property sits across the Atlantic in
Dishing The Data
For the third consecutive year, Forbes.com compiled lists of the world's most valuable properties on the market in every continent, excluding
Still, discovering every top-tier property is impossible. Many owners sell their homes only to preselected buyers, and hide their asking and sales prices. This can help owners conceal the value of a home for tax purposes, and keeps fellow aristocrats from regarding them as gauche for announcing a $100 million property to the world.
In
But realtors say there are many more available on the sly.
"We have chateaux priced at more than 50 million Euros ($65 million)," says Thierry Journiac of Terra Cognita who said owners of the country's priciest properties very rarely make public listings. "But, in general, the most expensive estates in
Next Page: Pricey Properties Ready To Sell
"[Properties] might be sold within a week or stay on the market much longer," says Journiac. "This is because their owners do not really need money and so do not want to discuss the price much."
Donald Trump, for example, bought his Palm Beach mansion three years ago for just over $40 million and, after extensive refurbishing, placed it back on the market at $125 million, a price from which "the Donald" says he will not budge.
For real estate agents, selling homes valued at over $10 million dollars is a very specialized trade and most brokers in the game hold only a handful of such listings at a time. An occasional sale of a top-flight property brings a larger financial boom than regular sales of median-priced properties.
"Considering the sales volume, the high-end market can be slower," says Patricia Judice de Araujo Esteves, at Judice & Araujo, the Brazilian affiliate of Christie's Great Estates. "But it is more profitable, not only for us, but also for the owners."
Ripe Market
If 2007's listing prices are any indication, the highest-end market has room to grow. When we started the list in 2005, Trump's
When the Three Ponds estate in Bridgehampton first listed at $75 million three years ago, it towered over the rest of the market.
"For $75 million you actually get something for your money, which is rare in the
In Pictures: Top 10 Most Expensive Homes In The World
Video: A Tour Of The World's Most Expensive Home