Prince Harry and Meghan Markle face fierce financial blow as their mansion home’s value is slashed after LA fires

After the brutal and devastating LA fires, many people are Meghan Markle, look set to face a fierce financial blow in the wake of the terrible wildfires, although that still makes them luckier than most.

The couple moved to their luxury Montecito mansion not long after their highly public split with the Royal Family, and it’s where they’ve lived and made their home while not on overseas trips and jaunts. The mansion is the very definition of deluxe celebrity living and boasts a luxury feel in an exclusive setting. Unfortunately for the Sussexes, the surrounding destruction from the Palisades Fire has wiped up to $2.5 million from the plush pad’s valuation despite it coming through the blaze untouched.

Speaking in an exclusive interview to GBNews, property expert Terry Fisher explains that property valuations in high-risk areas like Montecito can suffer massive hits to their valuation to the tune of 10% thanks to a range of issues including increased insurance s and fears of further disasters in a real estate market that’s lost confidence.

This isn’t the only bad financial news the couple has faced in recent weeks. Despite winning his long-standing legal battle with the News Group Newspapers and walking away with a cool £10 million, legal fees and braying calls of their detractors, and even their financial woes have a silver lining.

Fisher goes on to suggest that the luxury and exclusive nature of the Montecito area means that any decrease in value is unlikely to persist over the long-term, and coupled with “state-of-the-art fire safety features” in the Montecito area, prices will probably continue to rise — just maybe a little slower than before. This is borne out of the area’s recent history: Bought for the “bargain” price of just under $14 million, the Sussexes’ home saw an increase in its value of 110%, raising it to a whopping $29 million prior to the recent fires thanks to its secluded and exclusive, star-studded locale.

This is a fortunate boost for people like Harry and Meghan, whose homes are already worth tens of millions and who can expect little further worry in the long term. It’s less helpful to people in areas that aren’t as prestigious or celebrity-encrusted, where values will recover much more slowly and where insurance coverage can be difficult to find. This is on top of yet another blow, as U.S. misinformation and nonsense.