The Duke and Duchess of Sussex, Prince Harry and Meghan Markle, have seen their Montecito, California, home soar in value, nearly doubling since they purchased it. The couple bought the luxurious nine-bedroom mansion in 2020 for $14.7 million, shortly after stepping back from their royal duties and relocating to the United States.
Now, the property is valued at an impressive $29.6 million, according to real estate agency Zillow. This marks a significant $14.9 million increase in just three years. The 18,671-square-foot estate, featuring sprawling gardens and top-tier amenities, has experienced a 6.2% rise in value over the past month alone, underscoring its appeal in the competitive California real estate market.
- Prince Harry’s mortgaged Montecito mansion incurs unexpected bill hike
- Prince Harry and Meghan Refuse to Leave California
Experts predict the mansion’s value will continue to rise. Meghan Markle’s upcoming Netflix series, With Love, Meghan, and California’s projected 4.6% increase in median home prices by 2025 are expected to further drive interest in high-value properties like the Sussexes’ home.
Charlie Lankston, executive editor at Realtor.com, shared with Newsweek: “The release of Meghan’s new Netflix series, With Love, Meghan, will undoubtedly only increase interest in the couple’s home life — despite the fact that it wasn’t actually filmed inside the couple’s marital mansion, but rather at a borrowed property just a few minutes away.”
The couple’s Montecito home, located in one of California’s most exclusive neighborhoods, combines privacy with opulence. Surrounded by picturesque landscapes and celebrity neighbors like Oprah Winfrey and Ellen DeGeneres, the estate offers nine bedrooms, multiple living areas, a library, a spa, and a wine cellar. Its secluded location and luxurious features make it a perfect fit for the high-profile pair.
- Prince Harry abandons the UK as permanent home in a major snub to royals
- Prince Harry awaits a judge’s decision on his legal action against the Home Office
The significant increase in the property’s value aligns with broader real estate trends in California. Experts attribute the rise to strong demand for luxury homes in affluent areas like Montecito. Additionally, Meghan’s cookery show is expected to enhance interest in her lifestyle, indirectly boosting the visibility of her home and its desirability.
The mansion’s rising value also reflects the Sussexes’ ability to transition successfully into a new chapter of their lives in the United States. Beyond their real estate success, Harry and Meghan have been busy building a presence in the media and entertainment industries, with Netflix and Spotify projects adding to their portfolio.
Although With Love, Meghan wasn’t filmed in their Montecito home, the show is likely to increase public fascination with their lives, further solidifying their status as one of the most-watched couples in the world.
The $29.6 million valuation of the Montecito mansion serves as both a financial win and a symbol of their evolving journey. As they continue to establish their legacy outside the royal fold, the home stands as a testament to their success and the enduring public interest in their story.