The actor purchased the 5,767 square-foot Mediterranean home in Calabasas, California - where a host of stars including Paris Hilton, Justin Bieber and Britney Spears also reside, reported TMZ.
Hasselhoff's new abode comes complete with five bedrooms and six bathrooms and is situated in a small gated community decorated with several palm trees.
The 60-year-old star, who has been spotted watching the Los Angeles Lakers basketball team with his girlfriend Hayley Roberts on several occasions, would also be able to get some practice in at shooting hoops on the home's own basketball court.