Prince Harry and Meghan Markle likely to list their Montecito mansion

Key Points:

• Prince Harry and Meghan Markle plan to keep their Montecito mansion as they move back to the UK, but sources suggest they may sell due to the high annual costs exceeding $600,000 in mortgage payments and property taxes.
• The Montecito estate, purchased for $14.65 million in 2020, carries a $9.52 million adjustable-rate mortgage and a rising property tax bill currently at $149,668 annually, contributing to substantial ongoing expenses.
• Real estate experts estimate the mansion could list for around $75 million and sell between $55 million and $65 million, reflecting a significant increase in Montecito property values since the couple’s purchase.
• Financial pressures may influence the couple’s decision to sell, especially amid challenges including the end of their $100 million Netflix deal and difficulties with Meghan’s As Ever lifestyle brand inventory.
• The Sussexes are relocating their family to the UK for their children’s schooling and plan to establish a private residence there, with King Charles informed of their move.