Rihanna reportedly negotiated a significant discount on a luxurious eight-bedroom home in Beverly Hills after convincing real estate agents to drop their initial price. The hillside house features 10,000 square feet of floor space, 10 bathrooms, a recording studio, pool, gym, spa, library and a home cinema, and was initially listed at $9.95 million.
However, as house prices have dropped in recent months due to the current global economic downturn, the 21-year-old beauty was able to grab a bargain, and she finally bought the property for $6.9 million -- a saving of 30 percent.
Rihanna showing LA pride at a Lakers game. But the discounted purchase has left local residents, including Hollywood stars Jennifer Aniston, Courteney Cox, Milla Jovovich and Tom Cruise, worried the value of their properties could drastically drop. A Beverly Hills real estate agent said:
“This sale is a symbol of the drop. Everybody was looking at this property to see what would happen.”Film producer Aaron Spelling’s widow Candy Spelling has been struggling to sell her enormous 56,500 square foot home in the area. She first listed it in March for $150 million and it still hasn't sold.
Rihanna first started house-hunting in the Hollywood Hills in February. She spent several days looking at homes in the exclusive district and at one point looked at singer Christina Aguilera’s former mansion.
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