Prince Harry and Meghan Markle's 'unlucky' Montecito mansion that can't be sold
The Duke and Duchess of Sussex made headlines when they released Harry & Meghan, the tell-all Netflix series, which contained a series of revelations about their relationship with the royal family from the start of their romance in 2016 to 2020 when they stepped down from senior royal duties. It seems the fallout from the series is not only still being felt by the couple themselves as they continue to navigate their estrangement from Harry's father, King Charles, and brother Prince William, but, unexpectedly, by the property market as the owners of the house used as a backdrop for the series is proving hard to sell.Where was Harry & Meghan filmed?Though the home where Meghan and Harry filmed the show was in Montecito (where they have lived since July 2020), it was not their actual residence that made it on camera.For privacy reasons, they hired a nearby property that covers 13,000 square feet on two acres of land with a huge swimming pool. Despite its infamy and aesthetic beauty, that house has sat on the property market on and off for three years – so has the Netflix series cursed it?The Montecito mansion that can't be soldThe residence first went on the market in August 2021 for $33.5 million but was removed just one month later. It was relisted for the same asking price in March 2022, where it sat on the market while being used for filming by the Sussexes.Six months after the release of Harry & Meghan in December 2022, it was taken off the market again after failing to sell, before returning to the market in April 2024 with a price reduction of $3.5 million, and still remains listed at that price of $29,995,000.Proving to be a challengeReal estate broker for the property, Ryan Malmsten, recently told the San Francisco Chronicle about the issue with offloading the property."We've come close on several occasions to selling it. For whatever reason, that particular buyer chose something else," he said. "Buyers today are wanting way less square footage. They'll pay the same amount, but they want a smaller home. That's a big challenge." "Houses in Montecito tend to be megamansions, so that already prices out a huge portion of the market - meaning there are fewer prospective buyers in the first place," HELLO!'s Homes Editor, Rachel Avery, explains."It's unfortunate that the publicity from Harry and Meghan's docuseries hasn't boosted the interest, but that's likely due to the fact that the Sussexes didn't make clear that it was a flashy rental property, and fans could have just thought it was their own home. The sellers have been unlucky that even with a drop in price, the house hasn't budged in three years. However, that's not uncommon for the area with the big price tags and uncertain terrain prone to floods and fires, deterring buyers."Meghan and Harry's homeMeanwhile, Meghan and Harry are firmly settled in their family bolthole, which they took out a mortgage worth $14.65 million to purchase in 2020. It features nine bedrooms and 16 bathrooms, as well as a private pool, tennis court, wine cellar, and a games room. The home has since shot up in value and, according to a Zillow estimate, it is now thought to be worth $29 million, meaning they would be in a stellar position to follow the advice offered by a local real estate company, The Montecito Group, in October 2025 and buy a second home, AKA an investment property."I've been writing about celebrity homes for five years now, and if there's one thing celebrities do well, that's buy and sell properties," Rachel Avery said at the time."It's a lucrative side hustle for the A-list to have, and after all, they do say, 'as safe as houses,' meaning investing in bricks and mortar is a solid move. The likes of Ellen Degeneres and Jennifer Aniston have been buying, flipping and selling properties successfully for years. Ellen has recently left Montecito for a life in the UK, and Jennifer still owns a house there."
