The Duke and Duchess of Cambridge are set to move into their new ‘forever home’ in Windsor Great Park, and a property expert has revealed how much they could be paying in rent

Prince William and Kate Middleton are reportedly keen on a fresh start (Image: WPA Pool, Getty Images)

The Prince and Princess of Wales are preparing to move into their £16million “forever home” – and are set to pay an eye-watering monthly rent.

Instead of settling in Buckingham Palace when Prince William ascends the throne, the future King and Queen and their children George, Charlotte, and Louis, plan to reside in Forest Lodge, located in Windsor Great Park. This is four miles from their current four-bedroom residence, Adelaide Cottage.

The pair are expected to privately finance the move and will pay market rent to the Crown Estate, the owners of the property. As speculation about their impending move grows, potential new neighbours have shared their expectations.

The stunning eight-bedroom Georgian mansion, which has been in Royal possession since 1829, was listed for rent at £15,000 per month back in 2001, according to Hello! magazine.

However, due to inflation over the past 24 years, property expert Russell Quirk told Manchester Evening News that William and Kate are likely to be paying double that amount to the Crown Estate.

Forest Lodge, formerly known as Holly Grove, is based in Windsor Great Park(Image: Getty Images)

Explaining why, he said: “In the last 20 or so years, these things vary region to region, town to town, but suffice to say the likes of Windsor have become ever more popular, particularly with overseas renters.

“What has happened over recent years in the previous government and this one is that the stamp duty regime on purchases has come more and more penal and the consequence is now a lot of people are renting instead of buying because they don’t want to pay on a property like that – say a £1 million on stamp duty.

“So the rental market in terms of demand is very very strong. As a consequence of that, that property has probably doubled in terms of its rent value, so £15,000 a month back in 2001 is now probably £30,000 a month, about £7,000 a week. It’s not insubstantial – lots and lots and lots of demand.”

Discussing their new residence, which won’t cost taxpayers a penny, Royal expert and Majesty Magazine editor-in-chief Ingrid Seward told Hello!: “This is a really beautiful Georgian house, in a secluded spot, so it will suit them perfectly.

“Adelaide Cottage was only ever going to be temporary, because it’s too small, but William doesn’t want to live in a huge palace. He has always made quite clear that this isn’t the way he wants to live his life.”

It has been a challenging time for the popular royal couple (Image: Photo by Chris Jackson/Getty Images)

The heir to the throne will now reside nearer to locals at Cranbourne Hall Residential Park, with their fresh neighbours calling them “wonderful” and “good for the country”.

Jean Reeve, 87, said: “I’m happy for them. I welcome them. But I hope the public allow them to live their quietly as a family.

“It’s a less private spot than their previous home – from what I know about the location. So I’d hate for people to always be going past and saying, ‘Oh, that’s where they live.’ They have young children after all. They deserve privacy.”

Mrs Reeve expressed her fondness for William and Kate, stating: “I think they are going to be good for the country. I was a teenager when the Queen was crowned and she did a lot for this country. But now young blood is a good idea.

“And William and Kate are lovely. They’re young. They’re family-oriented. They’re always with their children. It’s a new style of monarchy. They’d like to be treated as normal people.”

The couple, who tied the knot in 2011, reportedly sought a fresh start following numerous challenges in recent years, including King Charles and Kate’s battles with cancer and the passing of the Queen.