Let’s indulge this Friday and look at how the stinkin’ rich do things.

Apparently mega mansions are out and giga mansions are in – that’s according to Nile Niami, a 49-year-old American film producer and property developer who is currently building America’s most expensive home.

His is called The One, over in Bel Air, Los Angeles (where else), and with 100 000 square feet of space it’s twice the size of the White House.

[Don’t tell Donald, or else he will start renovating soon.]

The Telegraph took a look at some of Niami’s creations, done in conjunction with Hilton & Hyland, Christie’s International Real Estate’s affiliate agent in Beverly Hills, and we’ll join in:

Another of Niami’s giga-bling creations in LA, called Opus [below], is available for $100m, also through Hilton & Hyland. That one comes with a gold Lamborghini, two original Damien Hirsts and an Andy Warhol portrait of Muhammed Ali thrown in for good measure.

These new-build behemoths are the epitome of ultra-luxury spec homes – turnkey mansions that are built on spec, without a buyer in mind, and designed and furnished down to the priceless art and car collection. It’s a trend among the world’s ultra high net worth individuals (UHNWIs) that Christie’s International Real Estate (CIRE) identify in their new Luxury Defined report.

“These spec homes first cropped up before the global crisis, mainly in the ‘finance corridor’, in places such as Greenwich, Connecticut. Then the crisis hit and they faded from view,” says Dan Conn, CIRE’s CEO. Now they are back – bigger, pricier and more packed with toys and collectibles than ever before

Next property to ogle – The Billionaire, we kid you not:

…a 38,000 sq ft Bel Air mansion on sale for $250m through Christie’s, with every conceivable form of leisure and luxury, including a 40-seat Dolby Atmos cinema, a four-lane bowling alley, a car gallery with cars worth $30m, and 100 curated installations – and a “candy wall” lined with giant sweet dispensers.

Turns out what is defined as luxury these days has undergone a slight overhaul:

Just two years ago, Christie’s earmarked $100m as the definition of ultra luxury. Today, there are 33 such nine-figure homes publicly listed for sale around the world (and countless more under the table). Instead, giga-mansions have reached a new frontier: the world’s first $1bn home – the 19th-century Villa Leopolda on the Cap Ferrat in the South of France, which is also unofficially, but widely known to be, for sale.

Unlike its new-build peers, Villa Leopolda has intrinsic value as a historic mansion with an illustrious past (it was once owned by Belgium’s King Leopold II) and a world-class location. With brand new giga mansions, there is no limit to what their creators will include to add value.

I’m going to stop here, because the envy is rising, but you can read more about how the mega wealthy are blowing their money HERE.

[source:telegraph]