Thursday, March 20, 2014

Singapore Home's Record Price: USD $242M

The pricey bungalow.

A 85,000-square-foot property in downtown Singapore has hit the market for a record price of $242 million, Bloomberg reports.

It includes a two-story home, a tennis court, and a pool, the marketing agent says—though sellers are betting developers may want to divide up the property, which is in a prime shopping location near Singapore's Botanic Gardens.

Why it's remarkable: The price trounces anything for sale stateside.

The most expensive property for sale in the US—a Dallas home owned by ex-Texas Rangers owner Tom Hicks—is listed at $135 million.

The Singapore listing "is beyond economics. It’s mind boggling and probably one of the highest in the world," says an analyst. "It’s no small change even for the ultra high net worth. It could be an Indian tycoon or a Russian oligarch that might bid for it."