Value of Buckingham Palace Plummets by $100 Million
It seems even the Queen of England is feeling the credit crunch. The value of her official London residence, Buckingham Palace, has fallen by about $100 million over the past 12 months, the London Telegraph reports. The 52-bedroom mansion, which dates to 1703 and sits on 40 prime acres, is now valued at $1.7 billion, down from $1.8 billion in August of last year. The dollar figure was assessed by UK property values database Zoopla, which has also calculated that the Queen's weekend retreat, Windsor Castle, has dropped about $15 million in value over the same period to $320 million. "The figures highlight that even the Royal Family aren't immune to the recent property market slump and that larger properties have been effected too," Zoopla CEO Alex Chesterman tells the paper, noting that further decreases could well be in the offing.
Reader Comments (Page 1 of 1)
Andrew Sep 2nd 2008 5:41PM
it's ONLY worth $1.7b? that's awful.
Duarte Sep 2nd 2008 6:52PM
You just know some Russian Gazillionaire is going to but an offer on it.
kenny17995 Sep 3rd 2008 12:08AM
$1.7 billion? thats incredible!
visit my website at: http://www.homesoftherich.net
just me Sep 3rd 2008 2:11PM
Of course, the Queen does not own these properties, the "Crown" does, or better yet, the people do.