A new report by the property valuation experts at Emoov reveals the eye-watering price tags attached to the homes of world leaders.
For the valuation, Emoov’s experts took a range of factors into account, including price per m2 in the city, age of property plus a cultural premium of 30% to estimate the market price for each property.
20 World Leaders’ Homes Ranked from Most to Least Expensive
- Queen Elizabeth II – Buckingham Palace: £4.9bn
- Hassanal Bolkiah (Sultan of Brunei) – Istana Nurul Iman: £3.01bn
- Moon Jae-in – The Blue House: £1.46bn
- Emmanuel Macron – Elysée Palace: £1.41bn
- Vladimir Putin – Grand Kremlin Palace: £1.3bn
- Sergio Mattarella – Quirinal Palace: £1.2bn
- Shinzo Abe – Kantei: £7.34m
- Donald Trump – Trump Tower: £630m
- Recep Tayyip Erdogan – The White Palace: £628m
- Ram Nath Kovind – Rashtrapati Bhavan: £471m
- Donald Trump – The White House: £396m
- Miloš Zeman – Prague Castle: £358m
- Pedro Sánchez – Palacio de la Moncloa: £150m
- Boris Johnson – 10 Downing Street: £61m
- Scott Morrison – The Lodge: £47m
- Justin Trudeau – Rideau Cottage: £40m
- Jair Bolsonaro – Palácio da Alvorada: £20m
- King Salman – Justice Palace: £14m
- Joko Widodo – Merdeka Palace: £6m
- Angela Merkel – Chancellery: £912k
The Ministerial Mansions study also includes stats on:
- Each leader’s price per m2, compared to the city average
- Estimated monthly mortgage payments for each residence
- Sale proceeds as a percentage of each countries GDP
- Which leader could be a cash buyer (and which ones would need a hefty mortgage)
- How long it would take the average person to afford a ministerial mansion
The full press release is pasted below for more detailed insight and includes a link to the data.
MINISTERIAL MANSIONS
New Report Reveals the Eye Watering Price Tags Attached to the Homes of 20 World Leaders
- Buckingham Palace value estimated at £4.9bn – with a square metre costing £64,8311
- If sold, Buckingham Palace could make up 0.2% of the UK’s GDP6
- Germany’s Prime Minister, Angela Merkel has the lowest home valuation – £912,600 – with a square metre costing just £4,5631
- Donald Trump could buy The White House four times over, based on the estimated £396m valuation2
- On average, world leaders could expect to pay 10 times over the average price per square metre1
- Brits would need at least £8m in the bank to be in the market for one of these properties, on average
- Five of the 20 leaders in the study could afford to purchase their residence, including Donald Trump2
- Saudi Arabia’s Justice Palace boasts the best value for money at £1,263 per m2; 89% cheaper than the average m2 in London; £11,523
Find the full Ministerial Mansions Report on the Emoov website: https://www.emoov.co.uk/ministerial-mansions/
The eye-watering cost of 20 world leader homes has been revealed in a new report by the property valuation experts at online estate agents Emoov.
The Ministerial Mansions Report analyses the homes of 20 world leaders to discover how much their list price would be, based on today’s property market.
Table 1: Worl
d Leaders’ Official Homes Ranked From Most to Least Expensive
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, 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. And to keep up with the mortgage4, you’d need £4.08m per month.
For Buckingham Palace, the monthly mortgage payment was estimated to be £22,530,176, which is 8,072 times the average monthly salary in London – £2,790.765.
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%3.
The report discovered that just five of the 20 leaders in the study could buy their official residence based on their estimated net worth2.
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.
When compared to a country’s Gross Domestic Product6 it is the Istana Nurul Iman in Brunei that is the highest. If it were sold, the process would account for almost a third (29.3%) of the entire countries GDP, followed by Buckingham Palace, which could make up 0.2% of the UK’s GDP.
Find the full Ministerial Mansions Report on the Emoov website: www.emoov.co.uk/ministerial-mansions/