Friday, May 04, 2007

Lakshmi Mittal’s House – The most expensive residential real estate deal ever done.

Earlier we reported about Updown Court, the world’s most expensive house and Donald Trump’s Florida Mansion, the most expensive house in the USA. Although these two mansions have the titles of being the most expensive houses, they still have to be sold. No body has ever paid that much ($139 million and $125 million respectively) for a residential building. Then who was the person that forked over the most amount of money in a residential real estate transaction?

The answer is Lakshmi Mittal, the Indian steel tycoon and the world’s fifth richest billionaire. His London residence at 18-19 Kensington Palace Gardens was bought from Formula One Boss Bernie Ecclestone in 2004 for a staggering $114.89 million (£62.7 million). And for while the house held the Guinness World Record for the world’s most expensive house. The Mittal/ Ecclestone deal still hold the record as the biggest of its kind.

Another interesting fact: Prince Talal Bin Waleed's palace racked up a construction bill of over $200 million when it was build in the late 80’s. But the palace belongs to his country and not to him per se, so his residence cannot be counted as a “private residential house”.


blogsurfer said...

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stylo said...

I think the guys are more richer.

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