Prince Harry, Meghan Markle’s Montecito Home Faces Disappointing Update
Prince Harry and Meghan Markle recently received disappointing news shortly after the Duke of Sussex celebrated a significant legal victory against UK publishers.
The couple, who relocated to the United States in 2020 to pursue a more independent life away from royal duties and constant British media scrutiny, now face a setback concerning their California property.
Harry and Meghan's Montecito home, where they live with their two children, Prince Archie, 5, and Princess Lilibet, 3, is located approximately 90 miles north of Los Angeles—a region recently devastated by severe wildfires.
The multimillion-dollar estate has reportedly experienced a decline in value following the natural disaster, according to property expert Terry Fisher.
The property, originally purchased for around £11 million, is now estimated to have lost £1 million in value. This comes just weeks after reports indicated a 14.1% decline in regional property prices.
“Homes here are lifestyle investments, with buyers paying a premium for privacy, exclusivity, and stunning surroundings,” Fisher explained in an interview with *GB News*. He added that the mansion had seen its value soar to £23.3 million—a 110% increase—driven by high demand and limited inventory in the celebrity-rich area.
However, Fisher noted that due to the recent wildfires, the property’s value has likely dropped closer to the £21–£22 million range.
Despite the current decline, Fisher emphasized that this reduction might not have lasting effects on the estate's value.
“While properties in the area may see a five to 10 per cent reduction in potential appreciation compared to similar luxury markets with fewer environmental risks, Montecito’s appeal often offsets these concerns,” he said.
Additionally, homes like Harry and Meghan’s are typically equipped with advanced safety features, including fire-resistant materials, defensible landscaping, and state-of-the-art systems, which help maintain their desirability among buyers.
Although the news is a temporary setback, the couple’s property is expected to retain much of its appeal due to Montecito’s exclusive allure and celebrity-driven demand.
