These Celebrity Mega-Mansions Are Now Worthless

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Mel Gibson’s Home – Malibu, California

On the Market Since: 2010
Total Area: 6,500 square feet
Initial Value: $14.5 million*

There are persistent rumors that Prince Harry is interested in purchasing the French rural Malibu residence owned by Mel Gibson. The estate features five bedrooms and five bathrooms, and it has been on the market for over a decade without attracting any buyers. In 2010, he placed it for sale for 14.5 million dollars. After less than a year had passed, it was sold for $12.8 million.

In 2008, the property was acquired by David Duchovny and Tea Leoni, two performers who have been seen in various television shows, including The X-Files on Fox. The price dropped by one million dollars in eight months, bringing it down to eleven point eight million dollars by November 2011. One year later, Gibson placed it back on the market with the same asking price of $14.5 million. The high property taxes likely are to blame for the lack of a sale.

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