With its panoramic views of Barcelona, sprawling gardens and salt-water pool, the 1,000 sq metre mansion epitomised the status of its royal owners when it was purchased in 2004.
But as Princess Cristina and her husband, Iñaki Urdangarin, became increasingly entangled in one of Spain’s longest-running corruption scandals, the home and the lavish parties it hosted came to symbolise instead the out-of-touch extravagance of Spain’s royals in a country struggling in the grip of an economic crisis.
Now, the seven-bedroom home belonging to the king’s sister and her family is set to change hands. The couple has asked a judge for permission to sell the house, half of which was seized by authorities in 2013, in order to secure part of Urdangarin’s €13.6m court bond.
Cristina, 49, is charged with two counts of being an accessory to tax fraud, with a court bond set at €2.7m. Her husband, who is alleged to have embezzled €5.8m in public funds, faces charges of money laundering and fraud. Both have denied any wrongdoing.
The mansion, located in the exclusive Pedralbes area of Barcelona, has figured prominently in the case ever since investigators dug up documents showing Cristina had signed as owner of the €6m mansion, leading to questions about how the house – and its €3m worth of renovations – were paid for.
Some of the cost was shouldered by Cristina’s father, former King Juan Carlos, who reportedly loaned Cristina €1.2m from his personal account.
With the couple now facing more than €16m in court bonds, rumours have been swirling for weeks that the pair had settled on a buyer for the Barcelona house. The house was put on the market in 2013 at a price of €9.8m.
Earlier this week, Urdangarin’s lawyers confirmed that the couple had reached an agreement with a potential buyer for the house and had approached a judge for permission to sell the property.
Cristina’s lawyer, Miquel Roca, told reporters on Wednesday that Cristina was upset over the prospect of having to sell her house “because it had never stopped being a source of happiness.”
Since 2013, Cristina and her family have been living in Geneva, shunning the spotlight while Cristina’s brother, King Felipe VI, works diligently to convince Spaniards that the scandal-plagued monarchy has embarked on a new chapter of transparency and honesty.