Even Britney feels the pinch
Britney Spears, the US pop singer, is having difficulty selling her $7.9m (€5.3m) Beverly Hills mansion due to a lacklustre property market in the US, a sign that the mortgage crisis is trickling up to the top of the real estate industry.
The 23-year old singer is trying to sell her six bedroom property through high-end estate agent Sotheby's in the US. If she manages to sell at the asking price, she stands to make a $700,000 profit.
Spears paid $7.2m for the mansion when she moved in less than two years ago, according to local press.
But the likelihood of selling is looking increasingly slim. Yesterday the singer posed for photos in many of the rooms for the sales catalogue in a bid to attract buyers.
Spears, whose new album "Circus" will be out later this year, is looking for a new house at the moment and reportedly wants more privacy. She is keen to get rid of the mansion because it reminds her of her drug problems and mental breakdown.
Sotheby's website describes the property as an "exquisite gated Italian Renaissance-inspired villa.
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