The Sussexes’ Montecito mansion has doubled in value in two years

Every single day of the last two years and two months, the British media has shown their ignorance of American culture, American business, American celebrity and American real estate. It’s fine to not know how things work in other countries, but the British media’s strident efforts to Britsplain American culture has been consistently offensive and idiotic. Anyone could have told them that the California real estate market is always booming, especially in the wealthiest enclaves and the middle-class residential areas of the state. Anyone could have told them that the Duke and Duchess of Sussex’s purchase of their Montecito mansion was – more than anything – a great investment. But instead, Salt Island screeched about the Sussexes’ 862 bathrooms and contemptuously derided Harry for having a mortgage. Now the Sun admits the obvious: the value of the Sussexes’ home has doubled in value in two years.

Prince Harry and Meghan have earned a staggering £12 million in the past two years – by doing nothing more than staying at home. Their luxury Montecito mansion, which they bought for £11.93 million ($14.6 million) in June 2020, has more than doubled in value in only 23 months.

The 18,671 sq ft home in oceanside Montecito, which boasts nine bedrooms and 19 bathrooms, is now valued at £23,960,720 ($29,350,320) million by property website Redfin – meaning Meghan and Harry would make £12 million if they sold today. Rival website Zillow puts the value of Harry and Meghan’s home at £21.6 million ($26,485,500), but claim it could fetch as much as £30 million ($36.81m)

Sitting on 7.4 acres with spectacular views of the Pacific Ocean, their home in the exclusive celebrity enclave boasts a private cinema, gym, spa and wine cellar. It has a pub games room, swimming pool and separate guesthouse where Meghan’s mother Doria stays when she visits from her home in Los Angeles, 90 miles to the south of Montecito.

“Property prices have soared in the past 18 months, and show no sign of stopping,” a local luxury estate agent told The Sun. “Harry and Meghan only had to sit back and watch their home’s value sky-rocket.”

The massive hike in their home’s value, soaring way above the average increase in California’s super-heated housing market, could be contributing to whispers that the royal couple is considering selling up and moving.

[From The Sun]

What’s funny is that Santa Barbara/Montecito has always been popular with wealthy celebrities, but Harry and Meghan were somewhat ahead of the curve by making Montecito their primary residence and basing themselves well outside of LA. Now more celebrities are doing that, or buying second homes in the Santa Barbara area. Which is why the prices are going up so much (plus just regular old inflation and a crazy real estate market in the state). Anyway, I love all of this and I hope Harry and Meg never move. They seem to love it there. Harry seems to especially love the beach and the local polo club.

Meghan Markle Cheers On Prince Harry at Polo Tournament Near Their California Home https://t.co/817Tbe2Gfe

— People (@people) May 16, 2022

Photos courtesy of Backgrid.