Prince Harry and Meghan Markle are currently on a trip to Australia, where they have been delighting royal fans on their visits to Melbourne Royal Children's Hospital, Whitten Oval and the MasterChef Australia set. Their two children, Prince Archie and Princess Lilibet, haven't joined them on their travels and are believed to be back home at their Montecito estate. While they've been away, news has broken about the real estate situation in their hometown - and it's not positive.
A report by real estate expert Mark Ashton Hunt in the Montecito Journal details the current climate in the local area, explaining that the number of homes for sale has decreased, as well as the overall final sale prices. Studying the first quarter of the year, only five properties broke the $10 million threshold, and it has been noted that many sellers have been forced to drop prices to push sales over the line.
© NetflixWhile it is not believed that Harry and Meghan are interested in selling up anytime soon, having stretched themselves to afford the property in the first place, we're sure the Sussexes keep a keen eye on the local real estate landscape.
Speaking to The Cut, Meghan explained that they had doubts about the commitment as they had only recently become financially independent after stepping back from royal duties.
"We didn’t have jobs, so we just were not going to come and see this house. It wasn't possible. It’s like when I was younger and you're window shopping — it’s like, I don't want to go and look at all the things that I can't afford. That doesn’t feel good," the mother-of-two said.
© NetflixBut after they took the plunge and viewed it, they didn’t look back. "We did everything we could to get this house," Meghan added. "Because you walk in and go… Joy. And exhale. And calm. It's healing. You feel free."
What is Harry and Meghan's mansion like?
© NetflixOfficially known as the Chateau of Riven Rock, their sprawling estate spans over seven acres and has Hollywood-worthy amenities like an outdoor pool, spa room, wine cellar and a master bedroom balcony.
Their idyllic garden featured heavily in their Netflix show, Harry & Meghan. Viewers were treated to wholesome family moments like Prince Archie playing football with his grandmother Doria on a beautifully manicured lawn and Harry and Archie picking oranges from their fruit trees.
According to TMZ, the Duke and Duchess spent $14.65 million on the property, however, a more recent Zillow estimate states that their mansion has now doubled in value and is worth a staggering $29 million.
Keeping the house private
© COURTESY OF NETFLIXPreviously, Meghan had clarified her decision not to film her own Netflix series, With Love, Meghan at her private house. In an interview with People, the Duchess said: "I wanted to protect that safe haven. We're a close-knit family, and I love those moments - putting Lili down for a nap, having lunch together, having sacred time together at the end of the day. Our kitchen is where mama just cooks for the family, and with a crew of 80-plus people, that’s a lot of people to have in your house!"
