Justin Timberlake smiles during a news conference at TPC Summerlin in Las Vegas, Nevada, October 15, 2008.[Agencies]

Justin Timberlake and Jessica Biel are reportedly set to move in together after he purchased a $5.5 million apartment.

The 27-year-old singer is said to have bought the lavish residence in New York's exclusive TriBeCa district, which comes complete with high ceilings, wall-to-ceiling windows and an open plan bedroom, and is keen to set up home with his 26-year-old girlfriend.

A source said: "Justin has finally closed on the deal. He is thrilled to be living in such a trendy area of New York and thinks it will make the perfect first property for him and Jessica. They will be moving in over the next week."

Earlier this year, it was claimed Justin was planning to propose to Jessica after he reportedly splashed out on an expensive vintage ring during their romantic holiday in Rome, Italy.

Jessica picked out the ring, along with a diamond bracelet also from the 70s, at a tiny, unmarked shop in a cobbled street near Via Condotti, Rome's most exclusive shopping street.

Shop owner Nicola Boncompagni said: "I could tell they had very refined taste because they asked about the history of all the jewellery. They seemed shy but in love."

(China Daily/Agencies November 18, 2008)