Britney Spears 'to lose millions' on mansion

Britney Spears is the latest star to suffer in the property market slump - she's set to lose millions of dollars in the sale of her California home.

The singer put the six-bedroom mansion on the market for $7.9 million (£5.3 million) back in September, 2008 but the property failed to attract any buyers.

And now Spears has dropped the price - she relisted the home on Monday (15Mar10) for $5.5 million (£3.7 million) - a loss of $2.4 million (£1,6 million), according to TMZ.com.

The home, which features three garages, a library, a spa and a media room, is where the Toxic hitmaker suffered a series of meltdowns in 2007 and 2008, most notably being removed from the house and transferred to a psychiatric hospital ward after refusing to hand her sons back to her ex-husband Kevin Federline.

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