Malema's house sold for R3.5m

2013-12-01 10:35
Julius Malema (Lucky Nxumalo, Beeld)

Julius Malema (Lucky Nxumalo, Beeld)

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Johannesburg - Julius Malema's half built Sandton home fetched R3.5m on auction last week, after it went under the hammer for the second time, according to the Sunday Independent.

The proceeds from the auction will go towards paying off Malema’s R16.5m tax bill, the Sunday Independent reported.

In May, businessman Norman Tloubatla outbid several fellow bidders at the auction and successfully put in a R5.9m bid for the property, which Malema purchased for R3.6m three years earlier. The property has an estimated value of R7.1m.

However, Tloubatla was forced to cancel the deal in September when he failed to come up with the money.

Auctioneer Pieter Geldenhuys refused to disclose the identity of the latest buyer, who he said had asked to remain anonymous.

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