Prince Harry and Meghan Markle could face a major financial setback as property prices in their exclusive Montecito neighborhood have dropped by a significant 14.1% compared to last year.
The Duke and Duchess of Sussex, who call the luxury £11 million Chateau of Riven Rock home, may now see the value of their mansion impacted by the steep decline in local real estate prices.
The drop, reported by real estate firm Redfin in October 2024, comes at a time when the couple's high-profile investment is feeling the pinch of a cooling property market in California.
Despite the worrying drop in property values, Prince Harry and Meghan Markle have no intentions of leaving their Montecito mansion.
In a previous interview with The Cut, Meghan shared the emotional connection she feels with their home, saying, "We did everything we could to get this house.
Because you walk in and go… Joy. And exhale. And calm. It's healing. You feel free."
The couple’s sprawling estate, known as the Chateau of Riven Rock, includes seven spacious bedrooms, offering more than enough room for their young family.
With its luxurious amenities, the home remains a sanctuary for the Sussexes, despite the shifting real estate market around them.
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