News Summary
Musician Drake has lowered the asking price of his luxurious estate in Beverly Hills by $9 million, now listed at $79 million. Initially purchased for $75 million in 2022, the Tuscan-style mansion has been on the market for 248 days and is part of a cooling luxury real estate market. Despite its lavish features and prime location, the property faces challenges finding buyers as the market fluctuates. Analysts speculate this move reflects Drake’s retreat from the Los Angeles real estate scene, as he continues to maintain other high-value properties.
Beverly Hills – Musician Drake has significantly reduced the asking price of his luxurious estate in Beverly Hills by $9 million, now listing the property for $79 million. This decision is seen as part of a broader trend of cooling in the luxury real estate market, which has been experiencing fluctuations in demand.
The Tuscan-style mansion, which Drake purchased in 2022 for $75 million, was relisted on June 24, 2025, after being initially offered for sale in 2023 with an original asking price of $88 million. The property is situated on nearly 20 acres in one of Los Angeles’ most coveted neighborhoods, making it not only a stunning residence but also a prime piece of real estate.
Drake’s estate boasts an impressive array of features, including 10 bedrooms, 13.5 bathrooms, and approximately 25,000 square feet of living space. Additional highlights include nine fireplaces and a garage that can accommodate up to 15 vehicles. In an attempt to maximize its value, the mansion was briefly marketed as a luxury rental at $250,000 per month.
Despite the reduction in the asking price, no official explanation has been provided regarding the recent price cut or the relisting of the property. Analysts suggest that this move might indicate Drake’s broader retreat from the Los Angeles real estate market. In recent years, he has sold his “YOLO Estate” in Hidden Hills for a total of $26 million over three separate transactions. Furthermore, he retains ownership of other high-end properties, including a $15 million ranch near Houston and a custom-built residence in Toronto known as “The Embassy.”
The estate is being marketed by Kurt Rappaport of Westside Estate Agency and Marc Bretter of Maywood Property Group. However, neither agent has publicly commented on the reasons behind the price change or the envisioned future plans for the property. The real estate market dynamics in Beverly Hills may contribute to uncertainty regarding high-value properties such as this one.
Interestingly, the land on which Drake’s mansion is built holds significant potential for redevelopment, given its prime location in Beverly Hills. The estate was previously owned by British singer Robbie Williams, who sold it for over $32 million.
Current estimates from real estate platform Redfin suggest that the property’s market value may be approximately $69 million, indicating that Drake could incur a financial loss if the estate is sold at this level. Homes in Beverly Hills typically remain on the market for about 64 days, while Drake’s mansion has been listed for 248 days, underscoring the challenges selling such a high-ticket property in today’s climate.
Looking ahead, experts speculate that California’s housing market may see a general rise in prices in 2025, predicted to be around 4 to 6 percent. However, the ongoing cooling trend in the luxury segment presents a complex landscape for buyers and sellers alike.
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Additional Resources
- The Pride LA
- Realtor.com
- Mansion Global
- Newsweek
- EURWeb
- Wikipedia: Beverly Hills
- Google Search: Drake Beverly Hills estate
- Google Scholar: Drake Beverly Hills real estate
- Encyclopedia Britannica: Real Estate Market
- Google News: Drake Beverly Hills estate
