Drake’s Former Robbie Williams Estate Fails to Attract Buyers in Beverly Hills

Drake is still searching for a buyer for his massive Beverly Hills-area mansion nearly three years after first putting the property on the market, highlighting the growing slowdown in California's luxury real estate market.

The rapper purchased the 20-acre Tuscan-style estate from Robbie Williams in 2022 for around $75 million during the height of Southern California's luxury housing boom. At the time, wealthy buyers were paying record prices for large estates as low interest rates fueled demand. Today, the market looks very different.

According to MoneyWise, Drake first listed the mansion for $88 million in 2023 before repeatedly lowering the price. The estate is currently listed for about $79 million, but it has still failed to attract a buyer.

Located at 9904 Kip Drive just outside Beverly Hills, the property includes 10 bedrooms, 22 bathrooms, guest houses, tennis courts, a wine cellar, orchards, a movie theater, and resort-style pools. The estate also features wide views of the city, canyons, and ocean.

Despite its size and celebrity history, real estate experts say several market changes may be hurting the sale.

High Mortgage Rates Stall Sale of Drake's Property

Mortgage rates have climbed sharply since Drake bought the home. According to Freddie Mac, the average 30-year fixed mortgage rate now sits above 6%, roughly double what buyers were paying during the pandemic-era housing rush, AOL reported.

California's growing costs for luxury homeowners have also become a concern. Mansion taxes on multimillion-dollar sales, rising insurance prices, and worries about wildfires have made many wealthy buyers more cautious than before.

Luxury shoppers are also taking more time before making huge purchases. During the pandemic, expensive homes often sparked bidding wars because inventory was limited. Now, buyers are paying closer attention to location, long-term value, and maintenance costs.

Some realtors believe Drake's mansion may simply be priced too high for its exact location. One Beverly Hills agent previously suggested that buyers spending nearly $80 million expect top-tier views and even more exclusive surroundings.

The home's slow sale reflects a larger trend across Los Angeles and other wealthy California neighborhoods like Bel Air and Malibu. Ultra-luxury properties that once sold quickly are now sitting on the market for months or even years.

Drake reportedly financed the property with a $52.5 million mortgage from Bank of America, adding pressure to unload the estate as carrying costs continue to rise.

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