Harry and Meghan's California mansion may be sold as couple weighs return to Britain
Prince Harry and Meghan Markle may sell their Montecito mansion as they consider a permanent return to the United Kingdom. The property, which costs over $600,000 annually to maintain, has seen a significant increase in market value since its purchase.
Why it matters
The potential sale highlights the high costs of maintaining luxury real estate and reflects the couple's shifting personal and professional priorities.
Prince Harry and Meghan Markle could be forced to sell their sprawling Montecito mansion after relocating to Britain this month, with the California estate costing the couple more than $600,000 a year in mortgage payments and property taxes alone, The New York Post reported.The Sussexes have said they plan to retain the 7.38-acre estate after moving to the UK with Prince Archie and Princess Lilibet. But sources in the Santa Barbara luxury property market told The Post that there have been “rumblings” the property could be put up for sale, with brokers already showing interest.The mansion was bought through the couple’s company, Rockbridge LLC, for $14.65 million in June 2020. A $9.52 million adjustable-rate mortgage taken out shortly afterwards costs an estimated $40,000 to $43,000 a month, or more than $480,000 a year.Property taxes add another $149,668 annually.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in