London, Dec 29 : Aussie pop princess Kylie Minogue has had to slash the selling price of her Australian holiday home yet again, and this time to half its asking price.

With the ongoing credit crunch, the island retreat near Melbourne has not generated much interest, reports the Mirror.

Minogue, 40, had bought the island in 2005, months before she was diagnosed with breast cancer.

The four-bedroom home was her haven during her battle with the illness.

The singer had put the island named Beauciel, which is French for Beautiful Sky, in the market in February.

It had been valued between 800,000 and 924,000 pounds.

However, even after spending 466,000 pounds on its renovation, Minogue has been forced to drop the asking price to 439,000 pounds.

The estate is on the French Island Western Port Bay that has 100 inhabitants but no gas, electricity or running water. (ANI)