Elle Macpherson&squo;s home hit by slump | The Courier-Mail: "A PROPERTY slump has forced supermodel and businesswoman Elle Macpherson to cut $4 million from the asking price for her London home.
British reports say she has been trying to sell her Notting Hill mansion for more than a year as she considers a move back to Australia.
The seven-storey, six-bedroom home was originally put on the market for 9.5 million ($19.3 million) in the middle of last year."
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Perhaps we can take up a collection for her to make up that last $4 million.
Hey it's not quite that bad in U.S. dollars!
ReplyDelete9.5 million GBP -> 19.3 million AUS (then)
7.5 million GBP -> 15.2 million AUS (now)
2 million GPB -> 4 million AUS -> 3.3 million USD drop in asking price.
She paid $12.5 million AUS -> 6.2 million GBP in 2006. She is seeking a gain of $2.1 million USD on property owned for only 3 years in the middle of global economic turmoil. Even after the drop, that would work out to a 21% profit on resale after 3 years ownership?