Investing in a luxury property doesn’t necessarily mean that you have to live in your new digs. Take this, 16,000-square-foot European contemporary mansion for example. While the home is currently on the market, entertainment A-listers, Beyonce and Jay-Z recently rented it over the summer, paying a cool $200,000 for their month-long stay. The couple is notorious for leasing real estate, as opposed to buying, and have stayed in similar homes in the Hamptons, and Kailua, Hawaii for short periods of time. The demand for rentals in the luxury real estate market is increasing, making it a unique and lucrative investment opportunity.
The 7 bedroom, 8.5 bathroom rental is located in Bel-Air, just outside of LA. The home features a spectacular master suite which includes 2 offices, 1.5 bathrooms, 3 closets, and a private terrace. Additional features of the sleek and simple, white and glass home include a wine cellar, professional-grade theatre, full fitness facilities, backyard pool and deck area, synthetic grass tennis court, and top-of-the-line security and audio/visual systems. The estate, which was built by European luxury real estate developer, Estate 4, has been featured on the hit television series, “Million Dollar Listing,” with both of its listing agents being cast members on the show. According to a recent Forbes article, the posh pad was originally placed on the market in April at a list price of $48 million, dropping to $45 million not long ago.
Other notable celebrities who are also renters include Queen Latifah, who reportedly pays $10,000/month in Atlanta, Meg Ryan, paying $25,000/month for her NYC Soho rental, and Mark Zuckerberg, who rents in College Terrace, California. In 2010, it was reported that Brad Pitt and Angelina Jolie paid an astonishing $60 million to lease a 48-acre waterfront estate on the North Shore of Long Island while Angelina was working on the set of her film, “Salt.”