Money

George Clooney Selling His Italian Villa On Lake Como?

By Ilyce Glink

Updated on: February 25, 2010 / 10:43 AM EST / MoneyWatch

This post was updated February 25, 2010
The paparazzi strike again? Apparently not.

The TimesOnline reported two wealthy buyers were purportedly bidding on George Clooney's beloved Italian villa on Lake Como, located in the charming village of Laglio.

Clooney, who reportedly paid $10 million for the villa in 2002, and his girlfriend, Italian television anchor Elisabetta Canalis, were reportedly being overrun with paparazzi seeking to shoot ever more revealing photos that will fetch a high price online and in print.

According to TimesOnline, the breaking point came when paparazzi climbed over the walls of Clooney's Villa Oleandra and took pictures of an underage girl who was changing in one of the guest rooms.

Those bidding on Clooney's Villa include David and Victoria Beckham, for whom paparazzi is already a daily (and apparently much-enjoyed) hazard, and the Russian vodka and banking tycoon Tariko Roustam.

The TimesOnline didn't know how much the Beckhams, who have spent time with Clooney at the estate, bid but the Roustam's bid is reported to be â‚¬30 million (approximately $40.6 million at $1.35/â‚¬1).

Clooney will find another Italian villa somewhere more private, but for Laglio residents (Clooney was made an honorary citizen of Lagio), the loss is palpable.

The property includes tennis courts, a botanic garden, and an annex. It sits on Lake Como. Follow the links to see photos of Clooney's Villa.

Update: People Magazine online reported this morning (February 25, 2010) that George Clooney is not selling his Italian Villa Oleandra. In a statement yesterday afternoon, Clooney said:

"To complete the news cycle: I am not buying an island and am not selling my house in Italy. The story was made up, then picked up and now denied. End of another riveting day of false news."

Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and the upcoming Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com.

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