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Billion Dollar House #3

Buckingham Palace, London

Who says you can't enjoy country living in the city? This perfect London getaway includes 42 acres of gardens, a pool, a 19th-century lake and a fountain--and requires the support of about 1,000 staff members. The palace also includes the largest room in London--a 122-foot-long, 60-foot-wide and 45-foot-high ballroom, and a vast collection of ceramics, watercolors, jewelry, silver and paintings going back more than 500 years.

George III bought Buckingham as a "town house" in 1761 for Queen Charlotte. Officially, it's the Queen's residence, but she's got seven or eight others to fall back on. The current scuttlebutt from London is that some members of Parliament are urging the government to sell a smaller royal residence, Kensington Palace, which had been Princess Diana's home in her last years. So far no decision has been made, but Buck House would doubtlessly sell for more.