King Charles III Won’t Live at Buckingham Palace After $487 Million Renovation/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ King Charles III has decided he will not live in Buckingham Palace after its 10-year, £369 million ($487 million) refurbishment is completed. Instead, he and Queen Camilla will continue residing at Clarence House while Buckingham Palace remains the monarchy’s ceremonial headquarters. The announcement came alongside the unprecedented release of the king’s personal tax payments.
King Charles Buckingham Palace Quick Looks
- King Charles III will remain at Clarence House.
- Buckingham Palace will continue serving as the monarchy’s headquarters.
- The palace’s £369 million renovation is due to finish next year.
- More public tours and events are planned for Buckingham Palace.
- Charles became the first reigning British monarch to disclose his tax payments.
- The announcement comes as the royal family seeks greater transparency.
Deep Look
King Chooses Clarence House as Permanent Residence
King Charles III has decided not to move into Buckingham Palace once its extensive renovation project is completed, ending speculation about where the monarch would live after the historic building reopens.
Instead, Charles and Queen Camilla will continue living at nearby Clarence House throughout the remainder of his reign, while still carrying out official duties from Buckingham Palace.
Royal officials emphasized that the palace will remain the ceremonial and operational headquarters of the British monarchy.
“It is and will remain Monarchy HQ, the crown jewel of our national buildings,” said James Chalmers, the senior royal official responsible for managing the king’s financial affairs.
Buckingham Palace to Welcome More Visitors
The decision is expected to significantly increase public access to Buckingham Palace.
Officials said keeping the king’s private residence elsewhere will allow the palace to host more state functions, exhibitions, tours and public events throughout the year.
Buckingham Palace currently welcomes approximately 700,000 visitors annually, and royal officials hope expanded access will allow even more people to experience one of Britain’s most recognizable landmarks.
Built during the 1820s, Buckingham Palace has served as the official London residence of every British monarch since Queen Victoria and remains the setting for major royal ceremonies, state banquets and historic public celebrations.
Ten-Year Renovation Nears Completion
The decision comes as Buckingham Palace approaches the end of a decade-long modernization project costing £369 million ($487 million).
The refurbishment, which began in 2017, focused on replacing aging electrical systems, plumbing, heating infrastructure and other outdated components to ensure the palace remains functional for decades to come.
The project is scheduled for completion next year.
Royal observers say they are now waiting to learn how the palace will be used once the renovations are finished.
Some believe the increased public access could represent a significant shift in how the monarchy utilizes one of its most iconic properties.
King Reveals Personal Tax Payments
The announcement was made during the royal family’s annual financial briefing, where Charles became the first reigning British monarch to publicly disclose how much tax he pays.
The king paid £12.9 million ($16.1 million) in income and capital gains taxes during the 2024–25 financial year, up from £11.7 million the previous year.
Prince William also released his personal tax figures, reporting £7.76 million in income and capital gains taxes for the same period, down from £8.34 million a year earlier.
The taxes relate only to the royal family’s private income, including revenues generated from Charles’ privately owned Balmoral and Sandringham estates, rather than assets owned by the Crown.
Monarchy Pushes Greater Transparency
Royal officials presented the announcements as part of broader efforts to modernize the monarchy and improve public transparency.
The disclosures come after months of unwanted attention surrounding the continued fallout from convicted sex offender Jeffrey Epstein’s association with the former Prince Andrew, now known as Andrew Mountbatten-Windsor.
Constitutional experts said voluntarily releasing tax information reinforces the idea that the monarchy is a public institution accountable to the British people.
Charles was not legally required to reveal his personal tax payments, but officials said the move reflects his commitment to making the monarchy more open while distancing the institution from recent controversies.
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