[imagesource: realtor.com]

They say that real estate is still one of the best hedges against rising inflation.

They also say that location is key to valuable real estate.

Looking at the Most Expensive Homes list compiled annually by Robb Report, despite the global house-price slump, the demand for luxury properties has not waned, nor has the wealthy’s fondness for over-the-top purchases.

Most of these sprawling properties with oodles of space and sumptuousness, it seems, are concentrated in one country: America.

If location is key, I’d beg to differ. Camps Bay, you here? Even though the Rand doesn’t exactly help.

The publication notes that last year, the priciest property in the world was a $532 million villa in Rome, while this year, it’s a $250 million penthouse near Central Park in New York.

House prices have fallen in nine of the richest economies, according to The Economist, which is probably really exciting all those ultrahigh-net-worth buyers out there.

Meanwhile, Saffas can’t even find a decent rental at a fair price in and around the Mother City CBD.

Back to that list, starting with the crowning glory, The Penthouse at Central Park Tower, New York, going for an easy-breezy $250 million:

Amazingly, the most expensive home in the world is perched atop the world’s tallest residential building on New York City’s Billionaires’ Row:

The hefty asking price includes seven bedrooms, eight bathrooms, multiple kitchens and a sprawling 1,433-square-foot outdoor terrace that hovers 1,400 feet above Manhattan. Of course, there are also not one but two grand ballrooms.

You’ll also be able to enjoy the luxury of huge walls of glass, soaring eight-metre-high ceilings, and a sculptural spiral staircase that connects each of the levels.

On the list of 25 properties, two are in France, one is in Israel, and one is in England. The rest are dispersed among Florida and California, with Colorado and Nevada also featuring.

The second most expensive home for sale is in Rutland Gate, London, and it’s going for $238 million:

The 62,000-square-foot mansion has 45 rooms spread across its seven stories, in addition to an indoor swimming pool and an underground parking garage.

Despite having fallen into disrepair at the hands of its previous residents, everything about the Knightsbridge property is palatial from its elaborate detailing, gold leaf accents and ornate moldings.

Third place is given to this Pacific Coast Highway property in California, worth a cool $225 million:

Massive oceanfront mansions are something of the norm in Malibu. However, this palatial beachside property is composed of five parcels of land and nine structures spread across its five acres. Priced at $225 million, the 25,000-square-foot Robert A. M.–designed residence is reminiscent of a European estate and was formerly owned by ex-Disney CEO Michael Eisner.

This impressive compound boasts its own gym, several guest homes, a movie theatre connected to the pool via an underground tunnel, and an elevator-accessible beach.

Tarpon Island in the Billionaires’ Row sector of Palm Beach, Florida is in fourth at $218 million:

Developer Todd Michael Glaser snapped it up for $85 million…[and] is now selling the man-made isle for $218 million with the promise of renovating and expanding the circa-1930s home for the prospective buyer. If you’d rather have it as is, then he’s willing to part with it for just $125 million.

The planned renovation would add 18,000 square feet of living space, a six-car garage and two pools. Stuck-in-the-past home aside, it’s a 2.2-acre parcel altogether—a sizable piece of land for Palm Beach—with a lighted tennis court.

Last but not least, Mylestone at Meadow Lane, Southampton, New York, is going for $175 million:

The modern Tudor-style mansion, which spans a little over 15,000 square feet, has 11 bedrooms, 12 full baths and four half baths, as well as a separate caretaker’s cottage.

You can expect custom millwork and water views throughout, along with all the modern amenities.

Step outside and you’ll find a pool, a hot tub, a five-car garage and a deepwater bayside dock for boating.

Casual.

You can see the rest of those luxe homes on the list here. Tread carefully, you know you can’t have them.

[source:robbreport]