David and Victoria Beckham can't sell their mansion in Madrid dropped the asking price to £3m

David and Victoria Beckham can't sell their mansion in Madrid. The Beckhams have been trying to sell their luxury villa for 17 months but have yet to find a buyer.
The Beckhams' five bedroom villa in Madrid was put on the market last year when they left Spain for the US, according to the Daily Star.Posh and Becks were asking £5m for their property, dubbed 'Casa Beckham', but there have been no offers. As a result they have dropped the asking price to £3m."The house is incredible, but the market is in such a terrible state right now and the Beckhams have had no offers....They're going to have to take a lot less than the original price to have a realistic chance of selling the house," a source told the paper.The Madrid mansion is set in two acres and has an outdoor heated swimming pool, tennis courts, a small football pitch and a play area. The property is located in the suburb of La Moraleja.
The Beckhams paid £4.5m for the villa in May 2005 and spent £500,000 refurbishing it. The home was put up for sale when David signed a £125m contract with football team LA Galaxy."It's a lovely place with lots of charm, beautifully and tastefully decorated," the source continued."But even the super rich have been hit hard by the credit crunch."