Prince Harry, Meghan Markle Losing Billionaire Neighbors? Experts Note Plummeting Values After Sussexes Move
Are Prince Harry and Meghan Markle becoming the not-so-ideal neighbors in Montecito?
Since Prince Harry and Meghan exited the royal family, they chose to reside in the US and acquired a mansion in California in June 2020.
The neighborhood is renowned for the exclusiveness and privacy it provides to the homeowners that it attracted several A-list Hollywood stars, including Tom Cruise, Oprah Winfrey, and Ellen DeGeneres.
However, over a year since the family-of-four started living in the area, several rich neighbors reportedly began putting their mansions in the market to get away from them.
Several experts told Globe that the property value around Sussexes' Montecito home in the Sunshine estate ultimately went down. Notable people in the area, like Peter Sperling and Rob Low, sold their mansions soon after Prince Harry and Meghan moved into the town.
"You'd think property values would skyrocket when royalty moves in, with people eager to buy in and brag they're living next to a duke and duchess. But the opposite seems true," an insider said.
The moves of their neighbors reportedly showed one thing - that instead of being proud they are near the royals, people began to think the couple is tacky.
What's worse is that more wealthy people reportedly plan to move out of the neighborhood and live away from the Sussexes.
Are Prince Harry, Meghan Markle Truly Losing Neighbors Because Of Hellish Experience?
While it is indeed true that several billionaire neighbors sold their homes already, it is highly unlikely that they gave up their shelters because of the royals.
For instance, a house beside their mansion was recently sold for $19 million. That only means people, regardless of the royals' existence in the community, still want to reside in the area because of its ideal location.
Meanwhile, Sperling was somehow steps away from the Duke and Duchess of Sussex. Even before Prince Harry and Meghan relocated, he had been trying to sell the home since 2017. He also put his other estate in the area for $10.5 million.
This kind of report should be taken with a grain of salt. Though Prince Harry and Meghan continuously make noises after leaving the royal family, people surely do not want to pay attention to things that do not benefit them.