Neverland Ranch, the former home of legendary pop superstar Michael
Jackson, is back on the market for US$31 million. This is a far cry
from the US$100 million asking price just four years ago in 2015. That
amount was reduced to US$67 million in 2017 after briefly being taken
off the market before it was reintroduced into the market at the current
The 12,598 square-foot, six-bedroom, nine-bathroom
ranch, located near Los Olivos, California, has been renamed Sycamore
Valley Ranch, and features a main house along with three guest houses, a
lake with a waterfall, a movie theatre, tennis courts, several barns
and animal shelter facilities.
The singer, who died in June 2009
two months before his 51st birthday, reportedly paid US$19.5 million for
the property in the 1980s and lived there for more than 15 years. A
real estate investment firm later bought it in 2008 for US$22.5 million
after Jackson defaulted on a loan.
According to one of the
listing agents, the property's price cut is partly due to years of
drought in the region that affected the real estate market. The agent
added that the compound has been well-maintained and "with the drought
ending and the Santa Ynez Valley in full bloom", it was the best time to
Jackson had faced multiple allegations of child sexual
abuse, but was acquitted in 2005. He is still the US' seventh-highest
certified music artist, with 84 million album certifications.