WASHINGTON - US PRESIDENT George W. Bush and First Lady Laura Bush have bought a home in one of the wealthiest areas in Dallas, Texas, where they will live after the White House, her spokesman said on Thursday.

'The president and Mrs Bush have purchased a home in the Preston Hollow neighborhood in Dallas, Texas, where they will live after the president leaves office in January 2009,' Ms Sally McDonough said in a statement.

That doesn't mean the end of Mr Bush's 'Prairie Chapel' ranch in tiny Crawford, Texas, where Ms McDonough said the Bushes will 'continue to spend time' after heading to the estate for many of their vacations during eight years in office.

The Dallas Morning News reported that the Bushes' long-time friend and accountant, Mr Robert McCleskey, had bought a four-bedroom, 4.5-bath home that local authorities valued at 2,078,660 dollars (S$3.2 million).

The home, which sits on 1.13 acres (0.46 hectares), has 8,501 square feet (790 square metres) of living space, including 896 square feet (83 square metres) of servant quarters, a wet bar, and a fireplace, said the daily.

An unknown buyer snapped up a smaller adjoining home that had been listed for 1.6 million dollars, the Dallas Morning News said, noting that it could be used for the Secret Service protectors Bush will have even in retirement.

The newspaper also attached a photograph of the possible Bush residence after he leaves office on January 20, but the home was mostly obscured by trees.

'The president and Mrs Bush do not have occupancy of the home, and therefore, no additional details will be provided,' the spokesman said.

The Bushes had previously lived in Dallas from December 1988 through January 1995, before moving to the Texas governor's mansion in Austin, Texas. -- AFP