Buckingham Palace is undergoing a 10-year renovation costing £369 million (about $488 million), set to finish in March 2027 [1, 2, 3, 4]. King Charles III and Queen Camilla will not move back into the palace after the work is completed. Instead, they will continue living at nearby Clarence House [1, 2, 3, 5, 6, 4].
The palace will stay the main venue for royal ceremonies, receptions, and state occasions but will also open more extensively to the public to boost visitor access and revenue [1, 2, 3, 6, 4]. Security concerns support the King living at Clarence House since his residence at Buckingham would limit public areas due to security restrictions [1, 4].
This marks the first time since Queen Victoria’s reign that a British monarch will not use Buckingham Palace as a primary residence [1, 3, 4]. King Charles and Queen Camilla have lived at Clarence House since their marriage in 2005. Being near eighty years old, they prefer to avoid the disruption of relocating [1, 2, 3, 6, 4].
James Chalmers, Keeper of the Privy Purse, said the King and Queen "will be able to use private rooms in Buckingham Palace for resting during official duties, and it may serve as a potential residence in future. Buckingham Palace will remain the ceremonial and administrative heart of royal life" [1]. A White Hall spokesperson noted that Charles "holds deep affection for Buckingham Palace and respects its role in royal and public life. It will continue to be a busy centre for royal activities in other respects" [4].
Work on the palace includes replacing aging electrical wiring, lead pipes, boilers, and heating systems to reduce risks of fire and water leaks [1, 4]. The Sovereign Grant funding has been temporarily increased since 2017 to support the renovations but will be reduced after completion [1, 3, 4].
King Charles III has voluntarily published his personal tax returns, paying over £30 million since ascending the throne in 2022, including £12.9 million in the 2024-2025 fiscal year [2, 7, 3, 8, 9, 10, 11]. Prince William also disclosed paying over £20 million in taxes since 2022, including £7.76 million in 2024-2025, aiming for transparency about royal finances [2, 3, 9, 11]. William’s private secretary Ian Patrick said, "Appropriate transparency is very important, which is why the Duke has decided to disclose his tax information" [11].
The royal train is scheduled for retirement by 2027 to reduce expenses, announced in July 2025, aligning with the renovation timeline [1, 4]. As King Charles lives in London, the Royal Standard flag flies simultaneously at both Buckingham Palace and Clarence House [1, 4].
The Buckingham Palace renovation project is expected to complete by March 2027, when the palace will reopen to the public with enhanced access but without the King and Queen relocating from Clarence House [1, 2, 3, 6, 4].
