Prince William and Kate Middleton, the Prince and Princess of Wales are set to move into their new home in Windsor Great Park along with their children Prince George, Princess Charlotte and Prince William.

The future King and Queen have chosen Forest Lodge, an eight-bedroom Georgian mansion worth an estimated £16 million, as their “forever home” now.

The propertly has reportedly been in royal possession since 1829 and was last listed for rent at £15,000 per month in 2001.

Now, property expert Russell Quirk told Manchester Evening News that the rent has doubled in the past two decades, with William and Kate likely to pay around £30,000 per month to the Crown Estate.

As quoted by Mirror, Russell 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.”

He went on to add, “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,” Russell noted.

This decision by Prince William and Kate Middleton marks as a step away from Buckingham Palace, where future Kings have traditionally resided.