Four residences from across Asia dominate the latest list of the world's most iconic homes, demonstrating the hemisphere's growing wealth and power in the 21st century.

Residences are made iconic by the cultural and historical significance of the property itself or of its occupants. 

"We believe this is the first comprehensive report on the world's iconic homes to include properties whose cultural value appeals almost exclusively to millennials," said Kashif Ansari. Ansari is Group Co-Founder and CEO of Juwai IQI, which produced the new Iconic Homes report.

"Today's culture gives iconic status to properties like the Blackpink dorm in Seoul, the high-rise single-family home known as Antilia in Mumbai, and the residence of the first prime minister of Malaysia in Penang.

According to Juwai IQI's estimates, the Imperial Palace in Tokyo is the most valuable of the iconic homes in the report –in or outside of Asia– at nearly $28 billion. 

Antilia is the second most valuable Asian iconic home, at $1 billion. 

Image: Antilia. Source: Juraj Kamenicky / Shutterstock.com

The residence of the first Prime Minister of Malaysia is the fifth most valuable iconic home and has an estimated worth of $14.9 million. 

The Blackpink dorm is the least valuable of the iconic homes located in Asia, with an estimated worth of $2 million.

Ansari said, "Blackpink is a Guinness World Record setter for the most-viewed music video within the first 24 hours of release.

"Another Asian residence that is only a decade old yet has achieved iconic status is Antilia. The 27-story, 37,000 square metres Mumbai home of billionaire Mukesh Ambani boasts nine elevators, three helipads, and even its air traffic control.

"These new properties join longer-established iconic residences such as the White House, Buckingham Palace, and the Imperial Palace in Japan. Royal families dominate the list of the world's most iconic homes because their palaces feature enormous amounts of internal and external space and are located at the centres of major cities with high land values.

Image: Buckingham Palace. Source: maziarz / Shutterstock.com.

"The least expensive home on the list of iconic residences belongs to a man whose personal wealth exceeds $96 billion — more than all but five other individuals on earth. Warren Buffett still lives in the relatively modest home he purchased some 30 years ago. Even though his house is only worth $1.2 million and is no different from the homes of many of his middle-class neighbours, the billionaire calls it his third-best investment ever.

"There are three generally accepted methods of analysing a property. You can consider its replacement cost, the income it can produce, or the price of comparable properties. We have used the best available information to generate appropriate price estimates for each of the iconic homes in our report.

To estimate the value of the residences in its Iconic Homes report, Juwai IQI used publicly available data and its own best estimates.

To arrive at a more precise valuation would require in-person inspections of the properties, carrying out condition surveys, and estimating the appropriate economic weight of each property's historical or sentimental value, said Chartered Valuation Surveyor Irhamy Ahmad of Irhamy International Valuers.

Image: White House. Source: turtix / Shutterstock.com