Prince Harry, Meghan Markle to Leave Montecito for the UK
Luxury real estate insiders say annual ownership costs top $650,000, adding pressure as the Sussexes weigh whether to keep the Montecito home.
- The Duke and Duchess of Sussex are moving back to the United Kingdom this month, ending their six-year stay in California. Their relocation has focused renewed attention on the future of their Montecito estate.
- Financing the property with a $9.52 million mortgage, the Sussexes purchased the estate for $14.65 million in 2020 through Rockbridge LLC. The adjustable-rate loan began at 2.49 percent but may reach 7.49 percent when it resets in July 2030.
- Fixed annual ownership costs likely exceed $650,000, according to The New York Post estimates, while 2025 property tax assessments reached $149,668. Collectively, the Sussexes have paid approximately $721,000 in property taxes since purchasing the residence.
- Luxury real estate insiders suggest a sale may prove difficult to avoid despite the couple's public insistence they intend to keep the property. "I cannot imagine ever wanting to let go," a source told The New York Post.
- Real estate expert Streatfeild estimates the Montecito property could list for $75 million, potentially selling between $55 million and $65 million. This reflects a market where three sales topped $50 million this year, suggesting significant appreciation since 2020.
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Six years after breaking ties with the royal family, Meghan Markle and Prince Harry are back in the UK. Located in California since then, the Duke and Duchess of Sussex lived in a nearly $15 million mansion, which they do not intend to sell despite the costly tax charges.
Prince Harry, Meghan Markle to Leave Montecito for the UK
Prince Harry and Meghan Markle will leave Montecito for the foreseeable future and return to the United Kingdom this fall, per the Associated Press. They purchased a $16 million, 14,500-square-foot, nine-bedroom home in Montecito in 2020. They plan to retain ownership of their Montecito home, per the AP. Photos of the home have appeared periodically in Instagram posts made to Meghan’s account, @meghan. Their son, 7-year-old Archie Harrison Mount…
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