is struggling to shift his palatial mansion, located in the upmarket suburb of Vaucluse.
The former Australian cricket captain
He listed it for sale in November last year, with an estimated price guide of around $20 million.
However real estate agent Bill Malouf of Highland Double Bay says the home is now more likely to fetch around $18 million.
'There has been an adjustment,' Malouf told realestate.com.au.
Malouf blamed world events for the decline in the real estate market, admitting, 'The market is tough.'
Michael Clarke (pictured is struggling to shift his palatial mansion, located in the upmarket Sydney suburb of Vaucluse
The former Australian cricket captain splashed about $13 million on the sprawling five-bedroom mansion (pictured) in 2021
'It's ridiculous what's happening in the world, (with) fuel prices going through the roof,' he said.
The five-bedroom, five-bathroom property is
The 44-year-old cricket legend has renovated the 'European-inspired' property since he purchased it in 2021.
Real estate experts initially predicted the sprawling 778-square-metre home could fetch well over $20 million, according to Domain.
The luxury resort-style home spans three levels, with oversized living spaces, an airy open-plan design, a pool, and a private formal dining room.
The property is accessed via a grand entranceway.
The first-floor kitchen and dining spaces flow onto an entertainment deck, while the second storey boasts a verandah and lounge area.
Meanwhile, the main bedroom spans an entire corner of the second floor, complete with a walk-in dressing room, en-suite, and private balcony.
He listed it for sale in November last year, with an estimated price guide of around $20 million
However real estate agent Bill Malouf of Highland Double Bay says the home is now more likely to fetch around $18 million
'There has been an adjustment,' Malouf told realestate.com.au
Set behind a wide street frontage and manicured gardens, the double-brick, three-level concrete home boasts six bathrooms, multiple living areas, and parking for two cars.
The property last sold in 2007 for $7 million and was initially guided at around $25 million last year, before Clarke secured it via a private treaty deal.
He previously offloaded his former matrimonial residence with ex-wife Kyly for $12 million.
Clarke's new neighbours include radio host Kyle Sandilands and wife Tegan, as well as former Westpac boss David Morgan and his wife, former federal minister Ros Kelly.
