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| Record 500m euros for Riviera pad | Record 500m euros for Riviera pad |
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| If you are looking for a holiday home on the French Riviera, the stock of available properties just got smaller. | |
| With grounds so grand that it takes a reputed 50 gardeners to tend them, the Villa Leopolda in Villefranche-sur-Mer has been snapped up by a mystery Russian billionaire. | With grounds so grand that it takes a reputed 50 gardeners to tend them, the Villa Leopolda in Villefranche-sur-Mer has been snapped up by a mystery Russian billionaire. |
| Built by King Leopold II of Belgium in 1902, the sumptuous villa has been graced by world leaders and superstars. | Built by King Leopold II of Belgium in 1902, the sumptuous villa has been graced by world leaders and superstars. |
| The previous owner, the late banking billionaire Edmond Safra is said to have entertained Ronald Reagan and Frank Sinatra there. | The previous owner, the late banking billionaire Edmond Safra is said to have entertained Ronald Reagan and Frank Sinatra there. |
| With the credit crisis causing turmoil in the world's financial community, and property values falling generally, you would expect the price to have tempered a little. The increase in the mega high net worth individuals globally is on a march Jonathan Hewlett, Savills estate agents | With the credit crisis causing turmoil in the world's financial community, and property values falling generally, you would expect the price to have tempered a little. The increase in the mega high net worth individuals globally is on a march Jonathan Hewlett, Savills estate agents |
| But no, the mysterious buyer is expected to hand over a whopping 500 million euros ($736m:£397m) for this luxury home on the Côte d'Azur. | But no, the mysterious buyer is expected to hand over a whopping 500 million euros ($736m:£397m) for this luxury home on the Côte d'Azur. |
| Hotspots | Hotspots |
| It is all down to a shortage of supply and rising demand from rich business people, according to luxury estate agent Jonathan Hewlett, who has recently sold a London pad for more than £100m. | It is all down to a shortage of supply and rising demand from rich business people, according to luxury estate agent Jonathan Hewlett, who has recently sold a London pad for more than £100m. |
| "The increase in the mega high net worth individuals globally is on a march," the Savills director told BBC News. | "The increase in the mega high net worth individuals globally is on a march," the Savills director told BBC News. |
| "And they are very specific about where they want to live." | "And they are very specific about where they want to live." |
| Central London and the French Riviera are the current hotpots for Russian buyers, according to Mr Hewlett. | Central London and the French Riviera are the current hotpots for Russian buyers, according to Mr Hewlett. |
| With the recent surge in commodity prices, there are still people in the market looking to purchase a very exclusive address, he added. | With the recent surge in commodity prices, there are still people in the market looking to purchase a very exclusive address, he added. |
| The Villa Leopolda price-tag smashed the previous record of £117m ($217m), which Britain's richest man Lakshmi Mittal reportedly paid this year for a home on London's so-called Billionaires Boulevard close to Kensington Palace. | The Villa Leopolda price-tag smashed the previous record of £117m ($217m), which Britain's richest man Lakshmi Mittal reportedly paid this year for a home on London's so-called Billionaires Boulevard close to Kensington Palace. |
| But even the latest record may not last long. Asia's richest man, industrialist Mukesh Ambani is expected to move into the 27-story property he has built to house his family and offices in Mumbai next year. | But even the latest record may not last long. Asia's richest man, industrialist Mukesh Ambani is expected to move into the 27-story property he has built to house his family and offices in Mumbai next year. |
| With a value reported to be up to $2bn, the design was said to have be inspired by the Hanging Gardens of Babylon. | With a value reported to be up to $2bn, the design was said to have be inspired by the Hanging Gardens of Babylon. |