Billionaire Properties No One Would Live In!

10. 16 Empty Mansions Out of 66

Many people don’t know this, but billionaires often abandon mansions and elegant homes for years at a time. However, leaving a property empty for years, especially the large mansions and estates of this type, is really advantageous to the billionaires in a variety of ways. Tax benefits are given to a property that has sat vacant for several years if it is left unoccupied by its owner. The government of the United Kingdom offers a tax cut to homeowners who renovate their properties after they have been empty or abandoned for more than two years. The new construction costs will be exempt from VAT if the building is later demolished and rebuilt.

9. Property Values Increase 11%

The Bishop’s Avenue is so full of noise and traffic that it’s always crowded, making it an awful place to stay. Although these homes are very meticulously maintained, many of the large and magnificent mansions on this street do not usually reside in them. Real estate agents have stated that once new and luxurious apartments are developed on this street, it would bring in an entirely different class of wealthier buyers. The northwest of London’s Wilton Way is also expected to become one of the world’s richest streets in the next two decades.