King Charles owns the world's most expensive 'house' - and it's valued at £3.7bn

is known for owning , which has been dubbed the world's most expensive house.

Buckingham Palace, which is over 200 years old, was formerly owned by the late Queen Elizabeth II until her death in 2022.

Although the historic property is not for sale, it has been coined as the most expensive on the market. It was originally built in 1703, but has undergone numerous renovations and expansions over time.

The billion-pound property has served as the official home of British monarchs since 1837 and still continues, to this day, to act as a place for the Royal Family to host dignitaries and other heads of state.

It boasts a remarkable 775 rooms, consisting of 19 Staterooms, 52 bedrooms, and 78 bathrooms.

The 75-year-old monarch, who ascended the throne in September 2022, also owns an array of other expensive properties such as Windsor Castle, St James' Palace and Kensington Palace.

Speaking of the Palace, royal biographer Hugo Vickers has previously explained why the King doesn't stay at Buckingham Palace - explaining that it is "not really a home at all".

As reported by the , he writes: "It is a mixture of state rooms for formal occasions, offices for staff working there, with members of the Royal Family having rooms on different floors, accessible from a series of corridors - rather like a hotel." He then described Buckingham Palace as being like a "large Edwardian hotel" describing it as "cold and impersonal".

The King is known to travel to Buckingham Palace from Clarence House for meetings and one of the reason for this is that it is currently years into a , with their Majesties likely set to move in after the work is finished in 2027.