Prince Harry and Meghan Markle did everything they could to secure their dream home in Montecito, where they now reside with their two beautiful children, Prince Archie and Princess Lilibet. But the future of their beloved residence could cause the couple heartache and here's why…
Real estate company Redfin has revealed that "Montecito home prices were down 14.1 per cent compared to last year," as reported in October 2024.
The median price a Montecito home sold for this year was $5.5 million, but the Sussexes abode is said to have set them back a staggering $14 million. The Redfin report also says that on average, homes in the area "sell after 43 days on the market compared to 55 days last year".
So, if the Sussexes were to part ways with their property now, they could be set for a significant shortfall. However, it seems the family are settled there with no plans to relocate just yet, so there's every chance that house prices could improve by the time a house sale is on the cards.
Their house is officially named the Chateau of Riven Rock and both Harry and Meghan have spoken out about how much they love it. "We did everything we could to get this house," Meghan told The Cut. "Because you walk in and go… Joy. And exhale. And calm. It's healing. You feel free."
What is Prince Harry and Meghan Markle's home like?
The couple live in a sprawling $14.5 million mansion and the immense property features seven bedrooms, a home office, a gym, a wine cellar and the most impressive garden complete with a swimming pool and a playhouse for their kids.
© NetflixThe Sussexes have a wholesome life in the US and speaking in 2022, Meghan revealed what her morning routine looks like with two children. We've also seen her gardening and tending to the family's chickens.
Are Prince Harry and Meghan Markle buying a house in Portugal?
Earlier this year, rumours swirled about the Sussexes potentially purchasing a Portuguese property and the Daily Mail's Richard Eden wrote that they were considering one that would act as a European base for holidaying.
This location would make sense for the couple as Harry's cousin Princess Eugenie relocated with her husband Jack Brooksbank and two sons, August and Ernest, in 2022 for Jack's work commitments. Harry and Eugenie have a close relationship and have maintained it despite his distance from his own father King Charles and brother Prince William.
Eugenie and Meghan grew close during her and Harry's courtship and the Princess even featured in the Sussexes Netflix show, Harry & Meghan, playing with their son Archie on the beach during a stateside visit. How sweet!
