The Duke and Duchess of Sussex are lucky enough to call Montecito their home – a gorgeous Californian location that's famed for its stunning hikes and celebrity mansions. They have resided in their dreamy $29 million mansion since 2020, at the time they just had their son, Prince Archie, and now their family consists of a daughter, Princess Lilibet, too. They appear to be happily settled stateside and enjoy the freedom that his exclusive neighbourhood affords them. While their estate has soared in value, others have not been as fortunate with one of their neighbours being forced to take a cut-price offer to finally sell their home.
Local news site, Siteline, has reported that 2925 Sycamore Canyon Road has been sold for almost half price after two years of being up for sale. They state that it was first listed in October 2023 for a cool $33 million, and the final sale has the price at $17.25 million. The vast mansion features seven bedrooms and eight bathrooms, all with grand décor. Outside there's a pool, a tennis court and even a separate building with a historical-looking tower that's basically a guesthouse…
Writing for Siteline, Erik Torkells explains what's actually inside the tower. "I once got a chance to explore it; the four floors are home to - starting from the bottom - a tiny living area, kitchenette, bathroom, and bedroom, all connected by a spiral staircase," he penned.
Prince Harry and Meghan's money maker
Despite this house sale indicating uncertainty in the housing market, one of Santa Barbara and Montecito's top brokers, Jason Streatfeild of Douglas Elliman, sets the record straight. "Montecito's luxury market isn't defined by volume, it's defined by quality and privacy. One or two notable price adjustments can make headlines, but they don’t represent the strength we're still seeing among turnkey, A+ properties. The best listings are still selling quickly and quietly," he told HELLO!. It has only been good news for the royals, for example, as they purchased their estate for $14.65 million in 2020, and now the estimated value is a staggering $29 million, according to Zillow.
They fell in love with the property, named Chateau of Riven Rock, as soon as they saw it and found a way to make the real estate theirs. "We did everything we could to get this house," Meghan told The Cut. "Because you walk in and go… Joy. And exhale. And calm. It's healing. You feel free."
© NetflixHarry has revealed that he and Meghan took out a mortgage to be able to afford the property. In his memoir, Spare, he wrote: "So we pulled together a down-payment, took out a mortgage and in July 2020 we moved in." It's unknown how much of that mortgage has been paid off over the last five years. But, still, should they look to part ways with the mansion, they are likely to make a considerable profit.
© @meghanFrom gardening and tending to the family's chickens, their estate is the perfect place for wholesome moments, and it looks as though the entire family are happy in their secluded sanctuary. They have many levels of security to keep them safe including a long, sweeping driveway, large gates and a system of CCTV cameras strategically placed around the area, inside and out. Carlos Dhunay, a home security specialist and director of Telcam since 2021, explains why social media posts of Meghan's could put the property at risk. "When high-profile homeowners share details about their property, they unintentionally create a roadmap for criminals. Burglars look for vulnerabilities, and social media posts can reveal everything from entry points to valuable items," he points out.
