Hundreds of castles have been built throughout Spain over the centuries. Some have ceased to exist, others today are only ruins. Those who have historically been more fortunate are the residences of government offices or the richest families. From time to time in real estate agencies there is an offer to sell the castle with a long history.
Browsing the listings of properties for sale in Spain is an interesting read. In addition to modern complexes with swimming pools on the Mediterranean coast and more standard apartments in apartment buildings, you can find many offers for the purchase of castles - in varying degrees of maintenance.
How much does a castle cost? The most expensive even above 10 million euros
The offer was tracked by Interia. So what can we find? In the center of Spain, not far from Segovia, the Castilnovo castle is waiting for a buyer. Sellers valued it at 15 million euros. Experts disagree on whether it was built in the 7th or 10th century. It is known that one of its customers in the 15th century was King Ferdinand the Catholic, the husband of Isabella the Catholic. The castle has 22 rooms and almost 5.5 thousand square meters. It is surrounded by a private area of 78 hectares.
The medieval castle of Siegens in Castile La Mancha was valued at 2 million euros. It is a defensive building of the 14th century, surrounded by walls and towers, with an area of 1500 square meters. The agency that put the castle up for sale claims that the price is low, as only the walls and towers have been repaired. The buyer of a castle – whether it has undergone modernization in recent years or is waiting for a major overhaul – must be aware that such a facility is a bottomless pit from a financial point of view and will need to be constantly looked after, repairs are planned and funds have been raised for it.
In the mentioned castle for 2 million euros, you need to finish the interior, install electricity and water. The ongoing maintenance of the building and the huge garden are fixed costs.
Who buys locks? Isn’t this an investment to get rich off of?
For this reason, castle buyers are not investors who expect to increase the value of a building in order to sell it at a profit some time later.
“Buyers of castles are usually passionate people,” Carles Mig, from a real estate agency in Barcelona, told Interia. – When buying a comfortable villa by the sea, you can expect that it will work for itself, which means that its price will be higher every year. When deciding to buy a castle, we are not so sure. These buildings have been preserved for centuries and require major repairs. We will help them, but we will live in a castle. For many, this is the most important thing. There are those who turn them into thriving luxury hotels.
There are also cheaper deals.
The offer presented by Carles Mig includes an offer for buyers who are ready to live in the castle but do not have 2 million euros. You can buy a Romanesque castle in Girona (Catalonia, 80 km from Barcelona towards the French border) for less than 1.2 million euros. euro modernist castle with an area of 1700 sq. It is surrounded by a garden of seven hectares. And in Lleida (Lerida), in central Catalonia, there is a tower from the 11th century. The price is 450 thousand euros.
Source: Wprost
I am George Brown, author at Daily News Hack. I mostly cover economy news and I have been doing this for quite some time now. I have a lot of experience in this field and I’m always looking for new opportunities to learn more.
