The Leopoldine Wing of the Hofburg Imperial Palace has been home to the President of Austria since 1946. Commissioned by Emperor Leopold l but burned down soon after it was completed in 1667, it was not restored until 1683. Only the façade remains from Leopold l’s era.

Today, visitors can wander through the stunning chambers on the first floor, or ‘bel étage’, and gain insights into his everyday work life.

It is virtually impossible to calculate the value of the palace complex. However, based on figures provided by realtors Engel & Völkers for land per sqm in Vienna’s first district, the Hofburg could easily be worth around £3.1 billion ($4bn) for the land alone, without even considering its enormous historic and cultural significance.

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