What the world’s most expensive house is worth
The homes of the rich and famous are some of the most valuable in the world.
A house in Hong Kong, the Queen Elizabeth II’s London residence, is worth around $30m (£21m).
The homes and homes of famous Australians such as Prince Phillip and the Duchess of Cambridge are valued at more than $1.3bn each.
The houses of celebrities such as Leonardo DiCaprio and Michael Jackson are valued more than twice as much.
Yet some of them are among the most expensive homes in the US, according to a new survey.
The US Real Estate Association (REIA), which released its annual list of the world ‘most expensive homes’ on Monday, found that the median price of a home in the country is more than four times higher than the average.
It is estimated that over $1,000,000 is spent on a home per year in the United States, according a REIA study last year.’
I love these houses’ ‘I like these houses more than I love any other house in the city’ – John Clements, realtor The average home is worth $1m, the report said, and many of the properties on the list are in urban areas, where they are more likely to be sold to the highest bidder.
The median price for a single-family home in New York City, which the REIA says is the most popular place to buy a home, is $842,000.
A house in Los Angeles, which is also considered one of the hottest places in the West, is estimated to be worth $843,000 per square foot, or $4.6m per square metre.
In Los Angeles there are many luxury homes, which are valued around $1bn per square meter.
In the US the average price per square mile of the average house is around $6,000 (£3,000).
There are also some high-end properties, such as the $5.6 million home in San Francisco, which was once considered a luxury property and has since been converted into a homeless shelter.
The REIA found that homes worth $200m or more are sold in the majority of the US market, but there are also luxury properties worth up to $5bn.’
My dream is for all these houses to be the envy of the entire world’ – Jonathan Tull, luxury home builder, designer and designer of the luxury homes of celebrities Source: Al Jazeera News title The world’s richest people have their favourite luxury homes on this year’s list – but not all are wealthy people