Rihanna negotiates $3 million discount on new home

By taking advantage of the recent downturn in property prices due to the economic climate, the 21-year-old finally bought the property for $6.9 million – a saving of 30 per cent.

Hollywood star neighbours including Jennifer Aniston, Courtney Cox and Tom Cruise have been left worried that the value of their homes could have dropped too.

A Beverly Hills real estate agent said: ‘This sale is a symbol of the drop. Everybody was looking at this property to see what would happen.’

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