We’re in the middle of a pandemic, but some celebrities are still buying luxurious homes. One example that likely comes to mind is Kylie Jenner’s $36.5 million Los Angeles mansion and Chrissy Teigen and John Legend’s $5.1 million West Hollywood home.
Why are celebrities still making high-priced home purchases right now? Showbiz Cheat Sheet spoke to Troy Palmquist, founder and broker at The Address, a luxury real estate brokerage. Here’s what he had to say.
Showbiz Cheat Sheet: Why are more celebrities buying luxury homes right now during the pandemic?
Troy Palmquist: For many, there’s the desire to take advantage of lower prices in some markets and unusually motivated sellers. In purely practical terms, larger lots, more outdoor recreation space, pools, tennis courts, and putting greens, in a time when there are no camps or country clubs and international travel has been canceled, means being able to stay home and stay outside more comfortably. This is especially true for those who have been living in highly desirable, yet crowded, in-town neighborhoods with smaller footprints.
CS: What is one of the most extravagant celebrity home purchases you’ve heard about recently? Why did it make an impression on you?