Kylie Jenner and Travis Scott take $24m megamansion off market

After a two-year struggle to sell their Beverly Hills megamansion, Kylie Jenner and Travis Scott have taken the listing down. 

It’s been a long saga for the former couple, who purchased the seven-bedroom Beverly Hills property in 2018 for $US13.4 million ($AU20.7 million). 

They first listed the property for sale in 2022 with a hefty asking price of $21.9 million. 

After months without a bite, Jenner and Scott discounted the price to just under $US20 million, then discounted it again to $US17.9 million a year later. 

The house was most recently listed for $US15,995,000 ($AU24.7 million). It’s now been taken off the market altogether. 

Over the course of two years, there has been a frenzy of online speculation about why the house has failed to sell. 

Los Angeles real estate broker Arvin Haddad suggested the couple paid too much for the property in the first place. 

“Kylie tends to overpay for everything she buys, but she didn’t get a good deal on the house,” Haddad told Realtor.com. 

In March this year, a viral TikTok video claimed that Jenner was living “way beyond her means”, leading to social media speculation that the makeup mogul was “broke”. 

But a recent change to Los Angeles real estate law is the more likely culprit for Jenner and Scott’s sale saga. 

In April 2023, Los Angeles implemented a 4 per cent “mansion tax” on all property sales over $5 million, and 5.5 per cent over $10 million. 

All revenue is used to fund affordable housing initiatives in the city. So far, the tax has raised over $439 million in funding according to the Los Angeles Housing Department. 

Since the tax went into effect, luxury home sales in Los Angeles declined by 66 per cent. A new sentiment of caution is hitting the prestige sector hard. 

Despite struggling to sell her Beverly Hills home, Kylie Jenner still has more than $US80 million worth of California property to her name. 

Her primary residence is a sprawling $36.5 million estate in Holmby Hills.