After 4 years of enjoying life at the Montecito villa, Harry and Meghan may face large losses if they decide to sell the house. Real estate prices in this area have dropped sharply compared to the time they bought the 9-bedroom villa.

In 2020, Prince Harry and Meghan Markle had a big turning point in their lives when they decided to leave the British royal family and move to California (USA). Initially, they did not have a fixed residence. However, after that, the couple chose a large villa in Montecito for about 14 million pounds (according to Hello!). Since then, both Harry and Meghan have expressed their love for their new home and life with their 5-year-old son Archie and 3-year-old daughter Lilibet. They seem to have no intention of leaving this place in the near future.

However, according to the latest data from real estate company Redfin, house prices in Montecito have decreased by 14.1% compared to last year (according to Hello!, October 2024). The average sale price of a home in Montecito this year is $5.5 million, significantly less than the amount Harry and Meghan spent. This means that if they sell the house at this time, the couple will likely suffer a significant financial loss.

Still, the prospect of the couple leaving Montecito seems unlikely. According to Hello!, the villa met all their wishes, with a large garden, swimming pool and strict security system. In addition, they also have their own chicken coop and a hut by the lake. Meghan once shared that the house brings her “joy”. Images of the mansion also appeared in the documentary “Harry and Meghan” released on Netflix two years ago.

In a 2022 interview with The Cut, Meghan revealed: “We did everything we could to get this house. It really soothes the soul. You feel free.” Now, their family has put down roots in Montecito, with Archie attending a local school.