The Risks and Rewards of Buying a Castle

“A castle is a work of art you can live in,” says Leslie D.T. de Ruiter of Residence 365 in the Netherlands. It certainly sounds romantic, but how should a discerning buyer seeking a luxury estate decide to purchase a castle? Very carefully. Although castles have undeniable appeal, they also come with some significant maintenance concerns that one is unlikely to encounter anywhere else. Yet for all the demands of caring for a property that could date as far back as the Middle Ages, buyers from all over the world are choosing castles for their beauty, idyllic settings, and rich histories. “Buyers who are interested in castles are attracted to the old because it makes people feel safe—it has stood the test of time,” says Roseanne De Vere Hunt of Sherry FitzGerald in Dublin. There is something reassuring about the relative antiquity of a castle that has seen centuries of tumultuous human history unfold, and yet somehow remains elegantly intact to this day. Is all that romance and history worth the challenge? Top property experts from the Christie’s International Real Estate network weigh in on the risks and rewards of choosing a castle to call home.

“To live in a castle for many is like living out a fantasy,” says James Mackenzie, head of Strutt & Parker’s UK Country House Department. “Epic upon approach, packed with history and stories of knights and princesses, they are truly a unique part of the British landscape.” Buyers who are attracted to such properties are often history buffs for whom the opportunity to inhabit a castle where Medieval or Renaissance nobility once lived is impossible to resist. “Such true one-offs will suit a particular buyer and niche audience that can naturally take longer to come to the fore than buyers for more traditional four-bed family homes,” Mackenzie adds. “But, when the right buyer falls in love with the house, the sale can move extremely quickly. For this reason, we cast the net much wider when looking for a buyer, through national and international audiences.”

Michael Baynes, an expert on Bordeaux vineyards at Maxwell-Storrie-Baynes in France, also notes significant international interest. “For us in the Bordeaux region over the past year,” he said, “the market for castles has been dominated by buyers from the United States and China, typically in their 40s and 50s.” Leslie D.T. de Ruiter, who works primarily in the Dutch and Belgian markets, notes that castle seekers are often successful entrepreneurs from the Netherlands seeking very special properties located nearby, and adds that buyers from East Asia are increasingly common as well. “All buyers have one thing in common,” according to Jonas Martinsson at Residence Fastighetsmäkleri in Stockholm, “they are all interested in history and the stories around castles. Today, many buyers actually find their way to Sweden because they’re attracted to its social and financial tranquility. So the buyers for Swedish castles are both local and international.”

So what can the proud owner of a centuries-old castle expect? “Castles are typically large and old,” notes Michael Baynes of Maxwell-Storrie-Baynes, “so while the initial entry price may be relatively inexpensive, the ongoing maintenance can be quite costly when compared to a modern home.” An exceptional later property is this French castle in Cognac, which was built in the 19th century in the Renaissance Revival style. Finding architects and contractors who have experience and expertise with castles is crucial. Although castles were built to last and are often as solid as can be, the complexities of updating a very old estate, from electricity and plumbing to insulation and interior remodeling, require both extensive practical knowledge and aesthetic sensitivity.

Roseanne De Vere Hunt has also seen a rise in global interest in Irish castles such as the spectacular Glin Castle in County Limerick. “We have seen an increase in inquiries over the past six months from buyers who have spent careers in Singapore, the United States, the Middle East, and Australia and are looking to move home and enjoy the rewards of working abroad through ownership of these fine castles. We find the majority of our castles buyers are Americans generally looking for a part of their Irish-American heritage.”

The architectural styles, relative rarity, and costs of castles depend a great deal on the region in question. “We have lots of castles,” explains Michael Baynes. “They are not rare in our region. Because Bordeaux was historically home to many vineyards, castles are relatively common. There are about 7,000 chateaux with vineyards here, and another 2,000 chateaux without vineyards. At any given time, there are probably about 500 available for sale.” This healthy supply makes valuation a bit easier, because there are so many estates available for comparison. “Bordeaux castles start at around 1 million euros and can go up to hundreds of millions for a top vineyard chateau.”  

By contrast, Residence 365’s Leslie D.T. de Ruiter estimates there are about 50-75 castles available in Belgium and the Netherlands, and of these, perhaps three or four will come up for sale each year, with average listing prices around 7 million euros. For some properties such as Belgium’s Castle Gestelhof, the price can go as high as 20 million euros. Roseanne De Vere Hunt reports a similar landscape in Ireland: “As there are just a few habitable castles in Ireland, very few come for sale every year, with a maximum of one or two per year.” Similarly, Jonas Martinsson currently has about four castle listings in Sweden.

While vineyard chateaux may dominate southern France, castle styles vary across different parts of Europe. In Belgium and the Netherlands, styles range from the early medieval to the Romanesque, Renaissance, and Gothic Revival, says de Ruiter. Because all historic homes have probably been touched by a calamity or two over the years, often sections destroyed centuries ago have been rebuilt in a later time period and in a different architectural style. Martinsson echoes this observation, noting that 18th- and 19th-century castles in Sweden such as Hönsäter Castle in Ovrige were sometimes built on the sites of medieval castles that fell into ruin. In England, the Walbottle estate in Newcastle upon Tyne, once the home of the Duke of Northumberland, is comprised of Gothic revival elements from both the 18th and 19th century. Castles are a great responsibility, perhaps more so than any other sort of luxury estate. “A purchaser of a castle is a custodian of these wonderful pieces of history,” says Hunt. For the right buyer, a journey into history can be well worth the challenges of caring for the ultimate historic home.