The Duke and Duchess of Sussex, Prince Harry and Meghan Markle, have seen the value of their home in Montecito, California, skyrocket, almost doubling since they bought it. The couple bought the luxurious nine-bedroom mansion in 2020 for $14.7 million, shortly after leaving royal duties and moving to the United States.
Now, the property is valued at an impressive $29.6 million, according to real estate agency Zillow. This represents a significant increase of $14.9 million in just three years. The 18,671-square-foot property, which features extensive gardens and top-notch amenities, has seen a 6.2% increase in value over the past month alone, underscoring its appeal in California’s competitive real estate market.
Experts predict the mansion’s value will continue to rise. Meghan Markle’s upcoming Netflix series, With Love, Meghan and the projected 4.6% increase in median home prices in California by 2025 are expected to further drive interest in high-value properties like the home of The Sussexes.
Charlie Lankston, executive editor of Realtor.com, shared with news week: “The release of Meghan’s new Netflix series, With Love, Meghan, will no doubt only increase interest in the couple’s home life, even though it was not actually filmed inside the couple’s marital mansion, but on a loaned 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 landscaping and famous neighbors like Oprah Winfrey and Ellen DeGeneres, the estate offers nine bedrooms, several living rooms, a library, a spa, and a wine cellar. Its secluded location and luxurious features make it the perfect choice for the high-profile couple.
The significant increase in property values aligns with broader real estate trends in California. Experts attribute the increase to strong demand for luxury homes in affluent areas like Montecito. Additionally, Meghan’s cooking show is expected to increase interest in her lifestyle, indirectly increasing her home’s visibility and appeal.
The mansion’s rising value also reflects the Sussexes’ ability to successfully transition to 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 was not filmed at their Montecito home, the show is likely to increase the public’s fascination with their lives, further solidifying their status as one of the most-watched couples in the world.
The Montecito mansion’s $29.6 million valuation serves as a financial victory and a symbol of its evolution. As they continue to establish their legacy outside the royal fold, the house is a testament to their success and the enduring public interest in their history.