Prince Harry and Meghan Markle could make an enormous profit if they decide to sell their Montecito mansion in California which has reportedly risen by over £10m in value since they bought it.
The Duke and Duchess of Sussex are said to be eyeing up a cheaper £3m pad in Malibu after splashing £11.8m on their nine-bedroom home just a few months after their shock exit from the Royal Family in 2020.
It’s thought that the couple are planning to purchase a plot of land to build a 10,000 square foot home.
Property expert Jonathan Rolande believes that now would be the perfect opportunity for the Sussexes’ to sell their lavish home.
He told the Mirror: “One reason Harry and Meghan might be looking to move is to take advantage of the reported rise in value their mansion has accrued.”
(Image: Google Earth)
He explained: “According to some reports, the value of their home has soared by more than £10m since they moved in. That’s entirely possible.”
However, he did warn: “But, like here, property markets in the US can rapidly change, so they might think this is the time to make their move and cash in.”
The former royal couple’s current home boasts nine bedrooms and 16 bathrooms, alongside a games room, a gym, tennis courts and a tea house.
But Jonathan believes these aren’t the only luxurious features that will attract potential buyers.
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He said: “As well as obviously being a stunning property the home also comes with the wow factor of once being owned by Harry and Meghan. For many this will be a huge selling point and can, itself, add to the value.”
The property expert said that when the Sussexes’ do decide to sell, it “won’t be the usual kind of sale”.
He explained: “It’ll be handled privately and you can expect a lot of talking will be going on behind the scenes to ensure the deal is the best possible one they can get.”
It’s believed that Harry and Meghan are considering a move to Malibu in the hopes of making it in Hollywood.
(Image: Max Mumby/Indigo/Getty Images)
Trips to Los Angeles from their current Montecito home can take more than three hours but if the couple were to move to Malibu, it would take just 40 minutes.
The duchess also has fond childhood memories of being in Malibu with her step-brother Thomas Markle Jnr saying she enjoyed plenty of fun beach dates at The Will Rogers Beach, near her Woodland Hills family home.
Jonathan said: “It’s obvious why Malibu has caught their eye. It has some stunning properties – among the best anywhere on the planet.
“For Harry and Meghan, finding somewhere which is both luxurious while also secluded will no doubt be key – and the property market in Malibu allows them to tick that box.”
Explaining why now is a good time for the couple to move, he told us: “In general the property market in the US is pretty robust right now. The economy post Covid has recovered well and this is being reflected in the resilience of the property market Stateside.
“It’s why British buyers, who are in the lucky position of being able to afford to do it, are looking again at the Florida property market as a potentially great place to invest again.”
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