Miami mansion with mega million dollar price tag

The cost of residential properties in the Miami real estate sector took a massive tumble in the years following the global cash crisis but one property in particular has been listed with a record breaking price tag. The are several signs that in general USA real estate property prices are beginning to stabilize and several regions show early stages of recovery. Indeed international property investors have taken full advantage of the property slump with high volumes of sales of Miami residences completed by foreign purchasers. A new listing, a fabulously grandiose mansion that was home to the late and celebrated fashion designer Gianni Versace has been listed for sale at the record breaking figure of $125 million – one of the highest listing prices throughout the USA real estate sectors and the most expensive price for a residential property in Miami-Dade. The South Beach property – named Casa Casuarina - was built in 1930 and boasts many flamboyant features is currently operating as a luxury hotel.