The 'Livin' La Vida Loca' singer bought the 10,000 sq ft Florida property for $10 million in 2005 and although he tried to sell it for $19.8 million in 2008 and $12.5 million in 2010, Ricky was forced to accept an offer of just $600,000 above his own purchase price to offload the house.

According to the realtor's description, the home is a "Mediterranean masterpiece with breathtaking open bay views from every room. This private estate is the epitome of luxury living featuring the finest in detailed finishes including solid mahogany doors, ceiling treatments, fireplaces, travertine marble throughout, and crown moldings. Spacious gourmet kitchen, formal dining room, full bar. Jacuzzi and pool."

Ricky - who has three-year-old twins Matteo and Valentino - was forced to make a quick sale because he has relocated to New York to play Che Guevara in 'Evita' on Broadway but insists Miami will always be his home.

His spokesman John Reilly told The Miami Herald newspaper: "Ricky Martin has such strong ties to Miami that he will always consider it his home alongside Puerto Rico.

"As much as Ricky loves [South Florida] ... Ricky is currently performing eight shows a week at the Marquis Theatre in Times Square, and it would have proved to be a somewhat difficult daily commute."