London, Sep 1 - Hollywood actor Nicolas Cage's famous Bel Air property in Los Angeles has been purchased by fashion designer Christian Audigier.

Cage's mansion has been in the market for sale since 2007. The actor slashed the asking price by half early this year in a bid to offload the property, reported contactmusic.com.

It is not known exactly what Audigier paid for the house.

'I believe it was a one-to-one deal. Christian knows Nicolas and they did the deal between themselves,' said a source.

Cage has also slashed the price of his 12 bedroom estate in Rhode Island which hit the market last year for $16 million. He is now asking $12 million for that home.

The movie star is also reportedly selling a two-unit condominium at the Olympic Tower in New York, two homes in New Orleans, Louisiana and a house in Las Vegas.

Reports suggest he recently sold property in Malibu, California and a castle in Germany. He still owns an estate in England, a second home in Malibu and a spread in the Bahamas.