Prince Harry, Meghan Markle plan to ‘cash in' by selling Montecito house

Prince Harry and Meghan Markle are looking to “cash in” by selling their Montecito mansion and relocating to Malibu.

The Sussexes’ Montecito mansion’s value has reportedly gone up by $10 million since they bought it, and one property expert says the two are likely looking to take advantage of that.

Property expert Jonathan Rolande 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."

"According to some reports, the value of their home has soared by more than £10m since they moved in. That's entirely possible," he explained.

"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," he added.

Rolande also said that the price of the house will also go up due to being owned by Prince Harry and Meghan Markle: "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," he told us.

However, he explained that if the Sussexes are selling the house, the sale is likely to be done privately: "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."

Rolande also shed light on why the Duke and Duchess of Sussex may go for a Malibu house: "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."