Ever wondered what Buckingham Palace is worth? Or how much it would cost you to buy the Balmoral estate in Scotland? We've found out the value of some of the most iconic royal properties in the UK so you can start saving!
You'll have to speak with King Charles III of course, who, as the owner of many opulent homes across Britain has much to celebrate when it comes to the price appreciation of the Crown property portfolio. Research from Benham and Reeves, one of London’s oldest, independently owned property agents, reveals the top ten of the royal's most famous residences have a combined value of a staggering £6.3 billion ($8.1bn).
Click or scroll to tour the palaces and estates the British Royal Family call home and see how much they're worth...
*Prices correct at time of publication
According to the Benham & Reeves 2024 report, Balmoral in Scotland is worth £49 million ($63m), a significant drop in value from the previous year’s top estimate of £80 million ($103m) as reported by British newspaper The Guardian. As the late Queen’s "favourite place on earth", the Scottish estate holds huge sentimental value and it’s impossible to imagine it ever being put on the market.
For the first time since the building was completed in 1855, the king permitted private tours in summer 2024. Visitors can see several rooms, including the family dining rooms, library and drawing room.
Charles has made significant changes since his mother’s death, including a decision to change the drawing room carpets back to Hunting Stewart tartan, the original style chosen by Queen Victoria. Balmoral has been a royal residence since 1852 when Prince Albert purchased it for Victoria for the sum of £32,000 ($41k), or £3 million ($3.9m) in today’s money.
As well as the castle, Balmoral takes in several neighbouring estates, 81 residential properties and nine self-catering lets, which can charge in excess of £2,000 ($2.3k) per week in peak season. It also includes Birkhall, the King’s private estate, and Craigowan Lodge, where the late Queen stayed while the castle was open to the public.
Queen Elizabeth II spent almost every summer with her family at the 50,000-acre estate but a second home comes at a price; according to British newspaper i News, it costs £3 million ($3.9m) a year to maintain the property.
The introduction of tours, priced at £100 ($129) with afternoon tea thrown in, sold out within minutes when tickets went on sale in June 2024, and will almost certainly be extended to meet costs.
However, the real value of Balmoral lies in its land and sporting rights, with its salmon fishing and grouse moors alone worth millions in hunting and fishing licences.
Following her death in 2022, the Queen was taken from the Palace of Holyroodhouse to St Giles’ Cathedral (both in Edinburgh, Scotland), before making her final journey down to London.
The palace is the monarch’s official residence in Scotland and the ancient pile is worth around £60 million ($77.5m) jumping in value by 7.8% between 2023 and 2024. The price hike, which will no doubt please the king, is attributed to 'hotter market conditions in Scotland' as compared to the slower market in central London.
Holyroodhouse is maintained by Historic Environment Scotland, which is funded by the Scottish government and the entrance fees paid by visitors.
The palace has been home to the kings and queens of Scotland, including Mary Queen of Scots, since the 16th century. While it’s unclear how much it currently costs to maintain, Historic Scotland, the agency previously responsible for its upkeep, is reported by Scottish newspaper Edinburgh News, to have spent £1.25 million ($1.6m) for its maintenance in 2014-15.
The King has continued his late mother’s tradition of spending a week at the palace in early summer for Holyrood Week, although it was shortened in 2024 due to the UK's general election.
He is seen here viewing the Elizabeth Sword, part of the Honours of Scotland, which was presented to him in July 2023 as part of his Coronation celebrations.
When the royals are not in residence, the palace is open to the public. The most popular rooms include Mary Queen of Scots’ private bed chamber, the Throne Room and the Great Gallery.
Like Balmoral, Sandringham House in Norfolk, England is privately owned by the royal family and its value remained steady between 2023 and 2024, according to Benham & Reeves.
It's said to be worth £60 million ($77.5m), a tad more than the £22,000 ($28k) Queen Victoria shelled out to buy the property for her eldest son and heir Prince Albert, later Edward VII, in 1862. These days you’d be lucky to be able to buy a beach hut in the area for that amount!
As well as the house, which dates to Elizabethan times, the 20,000-acre (8084ha) estate includes vast swathes of fertile farmland, producing a range of crops from oats and barley to beans and sugar beet, as well as large flocks of sheep.
Anmer Hall, the country home of the Prince and Princess of Wales, and Wood Farm, where the late Duke of Edinburgh spent much of his time following his retirement in 2017, also form part of the estate.
The late Queen would traditionally spend Christmas at Sandringham, staying through February 6, the date of her late father King George VI’s death and her ascension to the throne.
King Charles III, who inherited the estate from his mother, has already made his mark on the estate. He rolled out organic farming methods and creating an eco-friendly topiary garden which opened in July 2023 and includes new species of plants to improve local biodiversity.
Located next door to St James’s Palace, Clarence House in London suffered a 20% drop in value between 2023 and 2024 reflecting the poor performance of the city's property generally during this period.
The John Nash-designed property cost just £22,000 ($28k) to build when it was commissioned for George III’s third son, Prince William Henry, in 1825, but with an estimated value of £52.5 million ($68m), it's still a piece of real estate any investor would be keen to have in his portfolio.
It has been the home of the King and Queen since 2003 and they are said to be very happy there by various press.
The King took ownership of the four-storey house in 2002 after the death of the Queen Mother and undertook a £4.5 million ($5.8m) refurbishment, according to British magazine Hello! engaging his favourite interior designer Robert Kime. Charles spent a further £1.6 million ($2m) of his own money on soft furnishings.
The King is seen here in 2018, hosting King Willem-Alexander of the Netherlands in the formal living room with its blue-toned furniture, fringed lamps and historic artwork.
Located on the boulevard known as The Mall which runs between Buckingham Palace and Trafalgar Square, the residence has hosted guests including former US president Donald Trump and his wife Melania, seen here during an official state visit in 2019.
The property closed to the public the same year for building works and has never reopened, largely due to a lack of staff following the political event Brexit in 2016.
It has been suggested that King Charles might need the property over the summer 2024 period should he need to be in London for cancer treatment following his diagnosis earlier in the year.
In the heart of England's capital, Kensington Palace has been home to the Royal Family for centuries and remains the London base of the Prince and Princess of Wales.
It is part of the Crown Estate and therefore owned by His Majesty the King on behalf of the nation, although funds for its upkeep are provided by the Sovereign Grant.
With an estimated worth of £367 million ($474m), it actually saw a drop of nearly £58 million in value in 2024 as compared with figures from the previous year, which is in keeping with market trends.
"Economic turmoil has caused the property market to stagnate," state Benham & Reeves, adding that some London boroughs, like the City of Westminster where Clarence House is located, have seen prices plummet by as much as 20%.
But that’s still a stellar piece of real estate and a far cry from the £20,000 ($26k) King William III and Queen Mary II paid for the palace in 1689 which, allowing for inflation, is still just £4 million ($5.1m).
A kind of upmarket housing estate for the British Royal Family, the palace functions as an exclusive form of shared accommodation in which some of its residents, including the Prince and Princess Michael of Kent, are expected to pay a greatly reduced rent on their exclusive homes.
Meanwhile, renovations on William and Kate’s Apartment 1A in 2013 cost £4.5 million ($5.8m). No doubt to impress the many distinguished guests that have graced its halls over time, including the Obamas, seen here in 2016.
The late Queen’s main residence in her latter years, Windsor Castle in Berkshire, England is estimated to have a market value of £503 million ($647m), an increase of 3.7% between 2023 and 2024, which means the castle is worth an estimated £17 million ($22m) more than it was worth the previous year.
According to one report from the website Historic Cornwall, it costs about £21.4 million ($27m) per year to run the castle. This is paid for by the Sovereign Grant, taxpayers’ money given to the monarch by the treasury. The sovereign receives the grant in exchange for giving the government all profits from the Crown Estate, the family’s massive portfolio of properties.
Windsor Castle is the oldest and largest inhabited castle in the world, occupying 13 acres (5.2ha) of land, with Windsor town to the west, Eton College to the north and Windsor Great Park to the south.
There are plans for the castle to be fitted with solar panels to improve its energy efficiency and several renovations took place over the years, most recently in 1992 after a fire devastated the castle and ran up a repair bill of £36.5 million ($47m) according to British magazine Town&Country.
The cost was met by charging entry to Windsor Castle, opening up Buckingham Palace and £2 million ($2.6m) the Queen contributed herself. She also began paying income taxes.
Prince Harry and Meghan Markle tied the knot at St George’s Chapel in 2018 and Windsor Castle has been special to the couple ever since.
The pair chose Frogmore House on the estate for their engagement photos in 2017 and lived within the grounds of Windsor Castle in Frogmore Cottage before they stepped back as senior royals in 2020 to start a new life in Los Angeles.
They were asked to vacate the property early in 2023 and British newspaper The Independent reported it was still unoccupied more than a year later in July 2024.
The lesser-known of the London palaces, St James’s Palace featured prominently when Charles III was proclaimed King in the State Apartments there on 10 September 2022. The first public Proclamation was read from the balcony, seen here, overlooking Friary Court.
Along with Clarence House, St James’s Palace has experienced a 20.9% drop in value in the period 2023 to 2024, but is still worth £514 million ($662m) and, as part of the Crown Estate as well as being an integral part of the royal family's history and tradition, would never be sold.
The palace, which was commissioned by King Henry VIII, has been used as a London base for several royals including the King, who lived here following his split from Princess Diana.
He lived here in York House with Princes William and Harry until 2002 and Princess Beatrice and Princess Eugenie shared a four-bedroom apartment here.
It underwent a £250,000 ($322k) refurbishment when Princess Beatrice went to college in 2009. Other updates include a £5 million ($6.4m) overhaul in 2015 and 2016.
Eagle-eyed fans of the royals will recall that the Prince and Princess of Wales posed for official photographs in the State Apartments to mark their engagement in 2010.
The State Apartments are also used for charity events and state visits, but the upkeep is soaring. So much so that in 2016, the late Queen started renting out one of the apartments for £20,000 ($26k) a month according to British newspaper the Daily Mail. That's expensive even by London standards!
Built by William the Conqueror in the late 11th century, the Tower of London has a somewhat grisly past. Three Queens of England, Anne Boleyn, Catherine Howard and Jane Grey, were executed here in the 1500s and the iconic site is currently estimated to be worth about £542 million ($698m).
The London landmark is owned by the Crown Estate, which belongs to His Majesty The King in 'the right of the crown' by virtue of being the reigning monarch. It is not the private property of the crown however, meaning Charles cannot sell it. Although why would he want to?
The popular tourist destination, which includes the White Tower, Tower Green, the Bloody Tower, Medieval Palace and the Jewel House, is maintained by Historic Royal Palaces, the self-funding charity that looks after six palaces.
The White Tower, pictured at the centre of this image, is one of its greatest highlights for visitors as that's where it is said the two princes, 12 year old Edward V and nine year old Richard, Duke of York were imprisoned and murdered.
In 1674 the bones of two children of similar ages to the missing princes were found beneath the staircase in the tower.
The biggest draw, however, is the Jewel House, which houses The Crown Jewels, which were used at the King’s coronation in May 2023.
Priceless in terms of historic and cultural value, the collection, which features 23,000 gemstones, is estimated to be worth as much as £4.5 billion ($5.8bn).
These days the Tower is home to the 37 Yeoman Warders, better know as 'Beefeaters', who have guarded the Tower since Tudor times. You can see them in their impressive uniforms here.
The former home of Henry VIII, Hampton Court Palace has an estimated worth of £1 billion ($1.3bn).
With its stunning gardens and famous maze, it was opened to the public by Queen Victoria in 1838 and has become one of Britain’s most popular attractions. It is thought to be the Crown’s most expensive piece of real estate, after Buckingham Palace.
Henry’s adviser, Cardinal Thomas Wolsey, spent 200 crowns (roughly £5k / $6.5k today) building the original country manor and then gifted it to King Henry VIII, who spent a staggering £62,000 ($79k), or £42 million ($53m) in today’s money, transforming it into a sprawling palace where he could entertain.
It has been owned by the reigning monarch ever since, but is maintained by Historic Royal Palaces and was said by British news site Surrey Live in 2022 to cost around £3.7 million ($4.7m) to run each year.
It’s just as well that the Palace is so popular. Hampton Court Palace brings in around £8.9 million ($11.4m) every year in ticket sales and other events, including the Hampton Court Flower Show in July.
Visitors are attracted by the palace’s fascinating history as well as its opulent rooms, many of which were added during the reign of William III and Mary II, including the King's Presence Chamber, seen here, where the monarch heard petitions from his subjects.
Unsurprisingly, Buckingham Palace is the jewel in the crown of the royal portfolio, with an estimated worth of £3.1 billion (4bn).
Yet, along with other London properties, it suffered a decline in value between 2023 and 2024. Not that it matters, Buckingham Palace is symbolic of the British monarchy and, as part of the Crown Estate, the King couldn’t sell it off even if he wanted to.
Still, its current market price is significantly more than the £7,000 ($9k) John Sheffield, later the Duke of Buckingham, paid to build the palace in 1706, which, even when adjusted for inflation, still works out at the relatively small sum of £1.8 million ($2.3m).
The King is keen to open the palace up to the public more and cut back on its costs. After a five-year-long refurbishment, the east wing opened to the public for the first time in its 175-year history in July 2024.
Originally built by Edward Blore between 1847 and 1849 to “provide space for Queen Victoria’s growing family”, says The Royal Collection Trust, the wing encloses what was previously a U-shaped courtyard and forms part of the palace’s State Rooms tours that take place every summer.
The east wing features a series of decadent interconnecting rooms, filled with King George IV’s 18th-century chinoiserie designs, inspired by the art and style from China, Japan and other Asian countries.
The magnificent centre room, seen here, which leads to the palace's iconic balcony overlooking the Mall, boasts an oversized lotus-shaped chandelier in glass and lacquer, and a pair of 18th-century Chinese imperial silk wall hangings.
It is still not certain whether the King will eventually move into Buckingham Palace. At the moment, he is living nearby at Clarence House, while extensive renovations costing a monumental £369 million ($473m) are carried out in the palace.
Its maintenance is a never-ending expense. It cost £1 million ($1.3m) to remove harmful asbestos in 2012 and another £150 million ($192m) to cover repairs in 2015 as reported in British newspaper The Independent.
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