Cher, 79, Cuts $10 Million From Malibu Home’s Price After Engagement Drama With AE Edwards, 39

Cher has listed her stunning Malibu home back on the market again for a cool $75 million, nearly $10 million less than it was listed for last year. The “Believe” singer first purchased the 1.7-acre property for $2.95 million in 1989, before spending five years customizing it to her personal taste.

The Academy Award-winner’s 13,200 square-foot mansion, which features seven bedrooms, a swimming pool, tennis courts and Turkish baths, previously went on the market for about $85 million after appearing in an Architectural Digest last September. The mansion also has an outdoor gym, cinema and even a temperature-controlled room dedicated to storing the star’s wigs. “Every room has two different views of the ocean,” Cher said, referring to the mansion’s breathtaking views over California’s Pacific coast. “This house wraps its arms around you.”

Inspired by Cher’s years of travels, the home design references Renaissance villas of Europe, Venetian palazzos and the Alhambra Palace in Spain. “This house has been one of the greatest passions of my life,” the 76-year-old megastar told AD. “I have enjoyed every moment of its creation and evolution, but now it’s time to pass this magic on to others.”

While the property has been on and off the market over the past decade, Cher’s recent attempt to sell her Malibu home comes after sparking engagement rumors with boyfriend Alexander “AE” Edwards, 39. Taking to Twitter, Cher shared a photo of AE holding a massive pear-shaped diamond ring with the caption “THERE R NO WORDS, ALEXANDER, A.E.”

50 BEST CELEBRITY BIKINIS SLIDESHOW!

Cher quickly tried to debunk the engagement rumors she had sparked, saying that she only posted the photo because “his nails are so cool.” She has since been seen wearing the ring on a number of occasions, including the Versace fall/winter show in West Hollywood, where the pair made their red-carpet debut.

But new reports suggest that the any wedding may be delayed due to Cher’s family’s concerns about the couple’s 40-year age difference.