Has the collapse of the Russian economy finally hit the super-rich?

21:00 | 06.01.2015
Has the collapse of the Russian economy finally hit the super-rich?

Has the collapse of the Russian economy finally hit the super-rich?

It looks like a glittering golden palace fit for a Russian tsar, and its appearance on the Moscow property market is perhaps a sign of the crisis facing the super-rich amid the rouble's collapse.

With nine sumptuous bedrooms, Baroque-style living areas and two swimming pools - as well as being decorated with gold throughout - this home looks almost too lavish for royalty.

Chandeliers hang from the ceilings and every room is fitted with exclusive custom-made ornate furniture, with the mansion sitting amid towering pine trees in its own 97 acres.

But all this luxury comes at a price, with only billionaire oligarchs - many of whom have suffered mega losses due to the rouble fall - likely to be able to afford the hefty $109 million (£70 million) price tag.

Located in Russia's 'Beverly Hills', it is described by estate agents as being 'in the style of the country estates of the European aristocracy'.

The identity of the seller is not disclosed. 

In its sales material Sotheby's International Realty states: 'The interiors are reminiscent of Baroque palaces.

'The rooms have a lot of gold, natural stone and precious wood. In some rooms the floors are made of natural marble and the billiard room and library are solid oak and mahogany.'

The 'golden palace' is located in the prestigious Rublyovka suburb in Moscow, where A-listers reside and property prices are some of the highest in the world.

The three-storey main residence, which has similarities to a modern French chateau, has 2,300 square metres of living space. 

Inside, the bedrooms are particularly notable, with each one dripping in gold and decorated in a different style. Some feature four-poster beds, while others boast expensive works of art on the walls, but all resemble presidential suites in luxury hotels.

One of the main living areas contains a grand piano, while the spa and massage zone has hints of Arabia about its decor. 

Swimmers taking advantage of the larger indoor swimming pool will notice the Sistine Chapel-esque painting on the ceiling.
The mansion comes completely fully-furnished, with some of the pieces made by European cabinet makers.

Rublyovka, in pleasant woodland on one side of the Moscow River, became a Russian equivalent of Beverly Hills in the 1990s following the collapse of the Soviet Union.

The western suburb quickly became home to billionaire oligarchs, showbusiness stars, government officials and industry tycoons.

As well as expensive properties, the area also boasts exclusive boutique shops and sports clubs frequented by the rich and famous.

As an indication of the exclusivity of the neighbourhood, the golden palace is not even the most expensive on the market, with others commanding higher prices.

Ilya Menzhutov, director of the elite real estate company Metrium Grupp, said: 'It is by far not the most expensive house in Rublyovka.

'As of today, there is at least two houses that outrun the mansion in price. One of them is $130million (£85million) and the other is $150 million (£98million).

'Moreover, the most expensive estate is not in the famous Rublyovka but off the Skolkovskoye highway, where the buyer will have to pay $200 million (£130million).'

(dailymail.co.uk)

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