Breaking Down the British Royal Family’s $9.5 Billion Real Estate Portfolio

Given the public’s curiosity with the British royal family‘s net worth, and recent real estate drama surrounding the former Duke of York, it should come as no surprise that the Firm’s property portfolio is an evergreen point of interest. The questions are seemingly endless: where do King Charles and Queen Camilla actually live, for example? And where will Andrew Mountbatten-Windsor reside after his long-awaited eviction from Royal Lodge? As with all other issues relating to the royal family, some answers are easier to chase down than others.

Practically speaking, royal properties can be split into three buckets: those owned by the Crown Estate (i.e. all “official residences”), those owned by the Duchy of Cornwall, and those owned privately by members of the royal family. Some fall under lease agreements while others are rented via “grace and favour,” meaning tenants live rent-free in exchange for their services or in “gratitude” of services already rendered.

As for the “official residences,” there are 18 properties in total, according to The Guardian, including, most famously, Windsor Castle and Buckingham Palace. The latter is the symbolic “home” of the monarch and also happens to be the birthplace of King Charles III.

Though compiling an exhaustive list of every single property owned by the British royal family is virtually impossible, many of its mansions, castles, and estates are in fact open to the public. Ahead, a short list of some of the Firm’s most dazzling residences, which, altogether, are estimated to be worth approximately $9.5 billion.

Buckingham Palace

Buckingham Palace is kind of like the crown jewel of the British royal family’s property portfolio. Currently valued at approximately $4.9 billion, the 775-room dwelling is the “administrative home” of the monarch. King Charles and Queen Camilla don’t actually live there, however; since ascending the throne, they have remained at nearby Clarence House, where they have resided since 2003.

According to the Royal Collection Trust, the site where Buckingham Palace now stands was first staked out by James I in the early 1600s. It has transformed several times since then and is currently undergoing another renovation which is expected to finish in 2027. The property spans a whopping 830,000 square feet and will reopen to the public once construction is complete.

Windsor Castle

When they’re not at Clarence House in London, King Charles and Queen Camilla can often be found at their country estate, Windsor Castle. According to Architectural Digest, the 13-acre property contains over 1,000 rooms and more than 300 fireplaces, for a grand total of 484,000 square feet. Built in the 11th century by William the Conqueror, it is also the “oldest and largest occupied castle in the world.”

The royal family frequently use Windsor Castle to host out-of-town guests; most recently, that meant hosting Donald and Melania Trump, who were in town for a two-day state visit in September 2025.

Forest Lodge

Roughly 3.5 miles down the road from Windsor Castle, Forest Lodge sits in the adjacent estate of Windsor Great Park. The Georgian mansion was built in 1770 and purchased by the Crown in 1836. Thus, it is both more modern that Windsor Castle and also much smaller, with a mere eight bedrooms.

Nowadays, of course, Forest Lodge is known as Prince William and Kate Middleton’s “forever home.” The couple moved to the property in November 2025 after spending a few years in nearby Adelaide Cottage, which is located in Windsor Home Park. What’s more, it seems that the Wales family will remain there even once Prince William is crowed King. This break in tradition would make William the first monarch since medieval times to not live in a castle or a palace.

Kensington Palace

Kensington Palace was Prince William and Kate Middleton’s home prior to their departure from London in 2022. Nestled within Kensington Gardens, the property has been a royal residence since the 17th century and is most famously the birthplace of Queen Victoria.

In the 1980s and ’90s, Kensington Palace was the home of then-Prince Charles, Princess Diana, and their two children, Prince William and Prince Harry. Following their divorce, Charles moved to Clarence House, where he still lives today; Diana, meanwhile, continued to live at Kensington Palace until her death in 1997.

Most recently, Kensington Palace reopened in 2012 after a $12 million renovation in celebration of Queen Elizabeth II’s Diamond Jubilee.

Royal Lodge

Aside from Forest Lodge, Windsor Great Park also contains Royal Lodge, a.k.a. the former home of Andrew Mountbatten-Windsor and his ex-wife Sarah Ferguson. The 30-room mansion was previously the country retreat for King George VI and was also the site of the Queen Mother’s passing in 2002. Following her death, Andrew inked a 75-year lease agreement with the Crown and began living there in 2004. Ferguson joined him in 2008.

After the death of his mother, Queen Elizabeth II, King Charles made his first attempt to evict his disgraced younger brother from Royal Lodge. Calls for his eviction were renewed in 2025 following new allegations against him and his ex-wife with regard to their relationship with Jeffrey Epstein.

Frogmore Cottage

Frogmore Cottage is a 224-year-old historic dwelling located on the grounds of Windsor Home Park, just down the road from Adelaide Cottage. In 2019, it was converted into a five-bedroom, four bathroom home for the Duke and Duchess of Sussex, who welcomed their firstborn son, Archie, in May of that year. Following their departure from senior royal duties and their subsequent move to California, the couple were unceremoniously asked to vacate the property in 2023.

Sandringham House

Sandringham House sits on a sprawling 20,000-acre estate in Norfolk, England, roughly 100 miles northeast of London. It has served as a beloved country retreat for a number of monarchs, including Queen Elizabeth II, her father, King George VI, and his mother, Queen Mary.

Unlike the other properties on this list, Sandringham House has been privately owned by the royal family since the late 1800s. King Charles is the latest monarch to inherit the home. Sandringham most recently made headlines when People revealed that ex-Prince Andrew would be relocating to a private property on the estate, with his older brother once again footing the bill.

Balmoral Castle

Balmoral Castle has been the “highland home” of the British royal family since 1852. Located in rural Scotland, it is a working estate with both forestry and farmland. Queen Elizabeth II famously spent her late summers there and even died there in September 2022. It was also the home that then-Prince Charles and Princess Diana returned to after their 1981 honeymoon.

In 2024, King Charles opened up Balmoral to the public with a newly redesigned garden that included a “secret tribute” to his late mother. “It’s likely Charles wanted to bring some of the nostalgia of his childhood back to the Balmoral gardens and make it a place of fun and excitement for future generations,” Jack Stooks, the King’s former gardener, told Marie Claire at the time. “Balmoral was also a very special residence for the Queen, so Charles will want others to enjoy a place that was so special for his mother.”