The royal family's housing arrangements have been a subject of interest after it was revealed that Andrew Mountbatten-Windsor paid peppercorn rent for his former home, Royal Lodge, and earned an income from other properties on the estate.
A new report by the National Audit Office has now shed light on Princess Beatrice, Princess Eugenie, Duchess Sophie and more royal accommodation. Among the findings was a deep-dive into the financial details of the Prince and Princess of Wales' new home, Forest Lodge, where they live with their three kids, Prince George, Princess Charlotte and Prince Louis, after moving from nearby Adelaide Cottage in October 2025.
According to the public spending watchdog, the Crown Estate sank a total of £396,993 into the Windsor home in 2025 to make it suitable for the royals. This means the renovation costs alone exceeded the average property value in England, which is £268,000, by more than £100,000.
Specifically, the repair costs were broken down into: the main Georgian property, which cost £213,353 for heating, plumbing and structural repairs; two stable cottages used for live-in staff, which cost £48,575 and £90,626; and a barn, which came to £44,439.
A third stable cottage is also included in William and Kate's lease, but it did not require works to be carried out as the previous tenant did not leave until January 2026.
© Getty ImagesThis marked the second set of changes carried out at the home in the past three decades. Constructed in the 1770s, the Grade-II listed building underwent a glow-up that is believed to have cost around £1.5 million ($2 million) in 2001.
Unearthed photos of the empty property showed the original stonework, elaborate plaster cornices, marble fireplaces and Venetian windows, but William and Kate will have put their stamp on the interiors at their own expense.
© PA Images via Getty ImagesLease arrangements
As part of their "short-term 20-year lease", which began on 5 July 2025, William and Kate pay £307,200 a year for Forest Lodge, and they will reportedly face a rent review every five years in line with the Consumer Price Index.
Should the Waleses choose to move in the future, they could pass the lease on to their three children.
© Getty ImagesA previous statement from the Crown Estate clarified that they were paying market rent for the eight-bedroom Forest Lodge.
"The lease for the Property was concluded on a 20-year Common Law Tenancy at an open market rent subject to standard Landlord & Tenant repairing obligations. The rent was assessed by Savills and Hamptons acting on behalf of the Crown Estate. Knight Frank acted for TRHs The Prince and Princess of Wales," the statement read.
After their move was announced, Danielle Stacey, Best Quality Designer Handbag 's Online Royal Correspondent, explained: "The Prince and Princess of Wales clearly love living in Windsor, the children are settled at Lambrook School nearby, and they will still be close to Windsor Castle for royal functions and engagements."
Meanwhile, William and Kate also have access to Apartment 1A in Kensington Palace, London through their roles as senior working royals. It is one of seven palace residences that the Royal Household provides to 11 members of the royal family at no cost in exchange for their official duties.
© Getty ImagesOthers include the Princess Royal, the Duke and Duchess of Edinburgh, and King Charles and Queen Camilla.
A Palace spokesperson said: "We are grateful to the National Audit Office for this report, which is in line with The Royal Household’s commitment to transparency. We hope that the findings will help correct, clarify or contextualise a number of points regarding Royal properties.
"As the report notes, arrangements for properties managed by the Royal Household vary based on a number of factors to ensure residences are filled appropriately, depending on their location, tenants and purpose."
