Homes of World Leaders...
What They Cost
A new report has found that Queen Elizabeth II, Emmanuel Macron and Moon Jae-in would be unable to afford their state residences if they were to be put on the market.
Property experts at Emoov estimate that Buckingham Palace is the most expensive home of a world leader, valued at £4.9bn based on a £65,000 estimate for real estate per square metre in the West End of London.
However, the Queen would find herself priced out of her official residence if it were to be put on the market.
Only six of the leaders we researched could afford the home they live in as head of state. Donald Trump could buy The White House four times over, based on his net worth of £1.6bn.
To discover how much these 20 iconic buildings would be valued at, the researchers at Emoov found the estimated square meterage of each property from official sources and Love Property.
Then, applying the average price per square metre from Numbeo, the estimated cost for each building was calculated. A 30% cultural was applied to this figure to account for the historical and cultural importance of these ministerial mansions.
The average monthly salary in each city was sourced via Numbeo’s cost of living index.
Each leader’s estimated net worth was accessed via Forbes and celebritynetworth.com.
Buckingham Palace, London
Buckingham Palace tops the list as the priciest property at £4.9bn, followed by Istana Nurul Iman which is the official residence of Hassanal Bolkiah, Sultan of Brunei which we estimate would be worth £3.01bn on the market today.
The overall floor plan of Buckingham Palace is around 77,000m2, making the cost per metre square £64,831. This is 5000% more than the average price per square metre in Central London, which is £11,523.
The Blue House, South Korea
The Blue House, home to Moon Jae-In, the President of South Korea measures 5,310m2, and has the highest land value at £276,635 per square metre, followed by Number 10 Downing Street, with a land value of £175,274m2 for just 353m2 of property.
You’d need £809m in the bank to be able to buy a home worthy of a world leader with the price per metre square averaging £52k across the board.
The most affordable residence is occupied by Angela Merkel, who would pay just £3,631 per month, owing to Germany’s low interest rate of 1.82%.
For £1.02bn, Donald Trump could buy both Trump Tower and the White House with his £1.6bn, whereas Queen Elizabeth II would still be around £4bn short if she wanted the keys to Buckingham Palace.
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