27-year-old Chinese tycoon spends N10.3bn on Villa Igiea [PHOTO]

A 27-year-old real estate tycoon from China has bought the second most expensive property in Sydney.

The Daily Telegraph reports that China's 92nd richest person, “Jim” Shangjin Lin, bought the Villa Igiea mansion for $52 million (N10.3bn).

Built in the 1920s, the property is a popular choice among celebrities for short term stay.

Famous people, who have stayed in this mansion, include Angelina Jolie and Brad Pitt in 2013, Katy Perry, Beyonce and JayZ.

READ: See Jay Z and Beyonce's N89.6billion home

One of the cool things about this property is the lovely view of the Sydney Harbour.

According to Clayton Andrews, senior vice president of Christie’s International Real Estate, this view is one of the best in the region.

“Standing on that site is truly an amazing experience. This is a spectacular historic mansion and the most significant residential listing ever to come on the Australian market. The harbor-front setting, and the knowledge that the scope is there to create something even more outstanding in the future, is really very exciting.”

Nigeriarealestatehub reports the five bedroom mansion will be the permanent home for Jim, his wife and baby.

See more of the property above.