What would you say about spending your days in a castle, just like in a fairy tale? Well, that’s now possible in Germany. The country features a very long history and its numerous principalities left more than 5,000 castles. Every year, approximately 20 to 40 of them are available for sale mainly because Germany has a fairly constant economy, so the real-estate market is a strong one. Ergo, investing in properties in Germany is a smart decision for foreigners, and although buying a castle will cost you a fortune, the investment will definitely be worth every penny.
According to a firm that deals with historical buildings, a person who wants to purchase “a burg” definitely needs a great sum of money. A restored castle, apart from featuring a high price, it also involves high expenses for maintenance. Nevertheless, if you can afford a $10 million condo in the heart of NYC, you can definitely ‘save up’ some more for a castle.
The price of a tiny castle with a surface of 3,300 square feet designed for living, and its neighboring land can go from $650,000 to $6.5 million, whereas the price of a big, fully restored castle can exceed $26.1 million. Repairs and maintenance will increase the original price with millions of dollars.
Usually, palaces in Germany are situated in the countryside, in most of the cases on a mountain or hill. This means that they are isolated from towns, train stations, shops, markets and other sorts of conveniences that are of foremost importance for a normal life. Most castles that are situated in important towns from Germany are owned by public institutions.
Some of these properties are only ruins that are more than 1,000 years old, while others are extremely stylish castles that were constructed at the turn of the previous century and which were used by German principalities that were in charge of tiny kingdoms.
Even though the privileges of the German nobility were eradicate subsequent to World War I, families continued to preserve the majority of the palaces for generations. The ones that become available for selling these days are from proprietors who are too aged to keep preserving the castles, from owners who are unable to maintain them because they don’t have enough money, or from those who just want to live someplace else.
There isn’t a rule for palace buyers, but it appears that Russians, as soon as they entered the market, have been continuously investing a lot of money in purchasing and restoring palaces. Agents declare that a lot of foreign buyers come to this country searching for the ideal palace, but only a few of them buy one.
The famous actor Nicolas Cage bought in 2006 a beautiful German castle that dates from the 11th century. He spent nearly $2.6 million, however he decided to sell it in 2009. The magnificent edifice features 10,000 square feet, and it has 28 rooms.