Kardashian family matriarch Kris Jenner. Picture: Instagram

The Kardashian Trust has reportedly bought a $12 million ( about R174.1 million) mansion in the Coachella area.

The trust representing the world-famous reality TV family has decided to splash out on the seven-bedroom, 11,000-square-foot property in La Quinta's Madison Club.

The luxury abode is situated close to the site of the Coachella Valley Music and Arts Festival, which is where Kylie Jenner first met her now-boyfriend Travis Scott.

A source told the New York Post newspaper's Page Six column: "It lies just across the street from where the annual Coachella festival is."

The insider jokingly added: "There goes the neighbourhood."

It remains unclear which member of the Kardashian family was the driving force behind the purchase, although records show that the buyer has links to Kris Jenner, according to the Desert Sun newspaper.

Representatives for Kim Kardashian West and Kanye West have denied that they were behind the purchase.

Other well-known people who live close to the Coachella site include Nike chairman Phil Knight and golf champion Phil Mickelson.

Meanwhile, Kim has reportedly insisted she's not moving to Chicago, despite her husband telling a crowd last week that he was returning to his home city and "never leaving again".

A source said: "Kim's whole life is in LA - her family, her offices, her trainer, her stylists and her staff. About 25 people would have to move with her!"

The reality TV beauty - who has kids North, five, Saint, two, and eight-month-old Chicago - is determined to raise her children close to the rest of her family.

The insider added: "She loves her kids growing up so close to their cousins and she loves seeing her mum and her sisters every day. She's never lived anywhere but LA, and she's upset that Kanye is saying things like this publicly when they haven't even talked about moving. She's told him it's not happening."