The most expensive properties in the world cheaper because of credit crunch

The world's most expensive properties are cheaper than last year because of the credit crunch, according to the newly published annual list.

It still takes at least eight figures to earn a spot on the list, but some sellers have withdrawn their prestigious property from the market as they can't realise the price they are seeking, according to the annual top ten most expensive properties list published by Forbes.

The joint top spot is taken by the Holmby Hills Estate between swanky Beverly Hills and Bel Air, California. The $125 million Versailles style property has 12 bedrooms and 15 bathrooms. But its asking price is a sign of the times. The last time as $125 million home topped the Forbes list was in 2005.

Also top of the list, which only features publicly listed sales not private deals, is a Dunnellen Hall, a Jacobean style manor in Greenwich, Connecticut, which has vaulted ceilings and marble floors.

In third place at $110 million is Updown Court, Surrey, England, the most expensive house for sale in the UK. It features an indoor squash court and a heated driveway.

Joel Horowitz, joint founder of Tommy Hilfiger, is selling his Nevada property for $100 million. The Lake Tahoe property, which includes a wine cellar with 3,500 bottles, comes in at joint number four along with a mansion in Moscow which has Russian and Turkish baths.

In sixth place is the Hillandale estate in Stamford, Connecticut, which is modelled on an English country estate and is prices at $95. At $88 million is an 11 bed mansion on the French Riviera with manicured lawns and a spectacular infinity pool and the bootjack Ranch in Pagosa Springs, Colorado, which includes guest cabins and lodges.

Just three million less will buy a Wallace Neff designed mansion in Bel Air, California, which has a giant central atrium and for $80m you can get a modern beachside mansion in Southampton, New York.

Perhaps more telling are the properties that have been withdrawn from the market. Last month, investor Marty Zweig pulled the plug on his $70 million Pierre Hotel penthouse in New York City after four years on the market. Financier Leonard Ross, who had asked $165 million for the Hearst Mansion Beverly Hills, California de-listed it in September.