Inside Kim and Kanye's $20m Miami apartment

Kanye West and Kim Kardashian West. Photo / Instagram

Kanye West and Kim Kardashian West are reportedly set to pay $14 million US ($20.8m NZD) for an apartment in Miami's so-called billionaire beach bunker.

The 41-year-old rap star and Kim, 38 - who have kids North, five, Saint, three, and 11 month-old Chicago - have decided to part with the eye-watering sum to acquire an apartment in one of the city's most eye-catching locations.

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On vacay he just likes to sleep but I got him out for 5 mins for a pic

A post shared by Kim Kardashian West (@kimkardashian) on Aug 22, 2018 at 9:09am PDT

A source told the New York Post newspaper's Page Six column: "Kim and Kanye have been spotted viewing the property in the last month, and they are now in contract to buy it for $14 million. The sale is expected to close in January."

Faena House, which is an 18-story luxury beachfront tower, is designed by the world-famous architect Norman Foster, who also masterminded the design of the Gherkin in London.

Kanye and Kim's new property reportedly features four bedrooms and five 1/2-bathrooms, while their building is home to a private gym, a spa, a swimming pool and a concierge.

Meanwhile, Kris Jenner - Kim's mother - reportedly spent as much as $500,000 on her Christmas Eve party.

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🤗

A post shared by Kim Kardashian West (@kimkardashian) on Nov 13, 2018 at 2:22pm PST

The showbiz matriarch staged her annual December 24 bash at the Hidden Hills home of Kim and Kanye - and she spared no expense in making sure the family's 200 guests had a great time, with an insider saying the event is crucial to the family's "image."

A source explained: "The party needs to be eye-popping because it sets the tone for their empire - it creates a fantasy world and makes people want to tune in, so $500,000 is nothing for them.

"The grand spectacle of the party also helps sell Kylie [Jenner's] make-up, Kim's perfumes, and Khloe [Kardashian's} jeans. It's all about image."