Prince Harry and Meghan reportedly consider selling Montecito estate amid relocation to UK
A real-estate source says the Sussexes may list their Montecito mansion, which carries annual costs exceeding $600,000, as they move back to Britain.
A source familiar with the Santa Barbara luxury market told a news outlet that Prince Harry and Meghan Markle are likely to put their Montecito, California, estate on the market, adding that “every broker wants that listing.”
The property, a 7.38-acre ocean-view estate purchased in 2020 for $14.65 million through the couple’s company Rockbridge LLC, carries an adjustable-rate mortgage of $9.52 million and annual property taxes of about $150,000. The mortgage alone is estimated to cost roughly $480,000 per year, which, together with taxes, insurance, groundskeeping and security expenses, pushes total annual outlays above $650,000.
The Sussexes are scheduled to return to the United Kingdom this month with their children, Prince Archie, 7, and Princess Lilibet, 5, ending a six-year residence in California. They have indicated they will retain the Montecito home and a vacation property in Portugal, though the high carrying costs have prompted speculation about a sale.
Douglas Elliman broker Jason Streatfeild said transactions of this size often occur off-market under nondisclosure agreements and may already be under discussion. He estimated the Montecito estate could be listed for around $75 million and might sell for $55-65 million, based on recent comparable sales in the area.
County records show the property’s assessed value has risen steadily since purchase, with the 2025 tax bill at $149,668. The couple’s move follows the conclusion of a five-year, $100 million production agreement with Netflix and recent challenges faced by Meghan’s As Ever brand.
No comment was received from representatives of the Duke and Duchess of Sussex.