PHOTOS: Cher's Hawaii Home Sells For $8.7 Million
Recession? What Recession?
With the housing market still supposedly in a slump as the world economy struggles to recover following a global recession that’s been felt by all, Cher has managed to buck the trend, selling her luxurious Hawaiian home for a whopping $8.7 million at auction.
The three-quarter-acre property, that overlooks the Pacific Ocean in Kailua, Kona, was one of five Big Island residences auctioned off on Monday for a total of $19.4 million.
Cher’s Balinese style residence was sold by luxury Real Estate auction company, Concierge Auctions, who had estimated the value at between $8million and $12 million.
Located in the beautiful and exclusive Hualalai Resort, the 8,800-square-foot home features a gated center courtyard leading to the main residence.
Designed by Cher herself, the property boasts six bedrooms, a master wing, great room, top of the range kitchen, dining room, outdoor living area and an infinity pool with spa overlooking the resort’s golf course.
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The house was purchased by an unnamed, and obviously wealthy, buyer in Arizona.