Buy an abandoned castle6/5/2023 ![]() ![]() Two days after they arrived, with the coronavirus spreading across Europe, France went into a nationwide lockdown. "If you're buying something that really needs a lot of work, you can get it at a really good price, but you're going to spend the same amount to get it livable again," Ms. Sunita and Andrew McDonald, with the help of their three children and some tradesmen, are renovating a 40-room chateau near the Pyrenees. Besse said that the majority of the chateaus his agency sells go for between €800,000 and €1.2 million. About 800 go on the market each year, many of them for less than luxury prices. Besse said.įrance has an estimated 43,000 chateaus. His 2021 sales have doubled from where they were at this point last year. From 2019 to 2020, sales at his agency increased by 40%. The pandemic has led an increased number of people to search for chateaus, said Patrice Besse, head of a Paris-based agency that specializes in historic properties. More: A French Chateau in Southern California The luxury real estate agency Barnes told the French newspaper The Figaro that foreigners make up 25% of their clientele-most notably English, Russians, Americans and Chinese. Their lack of interest is made up for by eager expats, some of whom decide to buy without realizing the pitfalls. And despite renovations, a chateau may still never appreciate in price, experts said.įew of the French want a chateau. The lower-priced ones are often located in isolated areas, far from the nearest train station or grocery store. Why these properties are so seemingly cheap is obvious to the French: The castles are a money-suck. The 15th-century Chateau Mareuil, which at €525,000 includes three main buildings, a barn and 40 acres. The average downtown apartment, meanwhile, sells at €3,691 per square meter, about €800 more. In Nantes, a 17th century chateau with 15 rooms is listed at €1.7 million, or €2,853 per square meter. Compare that to the average price of an 800-square-foot apartment in Paris, which is nearly $1 million. Last year, most of the chateaus sold by French real estate agency Le Nail went for between €300,000 and 1.2 million (US$355,170 and US$1.42 million). In France, you can find castles for less than the cost of an apartment. More: Neo-Gothic Chateau in France’s Loire Valley Heads to Auction Without Reserve “We were very surprised about what you could get for your money,” Ms. They spent more than six hours at the chateau that day and put in an offer soon after. “We had absolutely no intention of buying a chateau.” “We really only went over to France to look at this property because we were intrigued,” Ms. home but were married in France, decided to tour the property on their next trip. ![]() Karen Horne and her husband, Paul, first saw Chateau La Perrière in a newspaper ad. ![]()
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