A sprawling estate in the south of France has become the most expensive property in the world.
Known as Les Cedres, the home is located near Nice in Saint-Jean-Cap-Ferrat, and has been offered for one billion euros ($1.1 billion).
The 10-bedroom property, built in 1830, comes with a huge swimming pool and one of the most impressive gardens in the world, containing 15,000 plants and nearly 20 greenhouses with rare tropical flora. The house features stables for up to 30 horses as well as a ballroom.
A quality investment, whether a piece of real estate or investing in a great company may not make you rich overnight, but will likely perform well over time. And while most of us can’t invest in billion dollar estates, there are other ways to participate including secondary properties, Real Estate Income Trusts (REITs) and Real Estate Limited Partnerships (RELPs). Diversification is a key component in a well-managed portfolio.
Check out this cool graphic from the economist on how Global real estate prices have gone up:
http://www.economist.com/blogs/dailychart/2011/11/global-house-prices
