Buying a castle in France is the dream of many history and heritage enthusiasts. However, such an investment is not something that can be improvised: to limit risks, it is essential to be accompanied by a professional who knows all the specificities of the market. Our experts in luxury real estate take stock.
WHAT YOU NEED TO KNOW BEFORE BUYING A CASTLE IN FRANCE
Every year in France, around 400 people become castle owners. This niche market mainly attracts lovers of beautiful stones, but it can also meet the expectations of some professionals wishing to transform the building into a hospitality structure. Regardless of the initial project, buying a castle is a transaction that raises several questions.
WHICH CASTLE TO BUY IN FRANCE? HOW MUCH BUDGET TO PLAN?
Out of the 40,000 castles present in the country, around 3,000 are regularly offered for sale in France. However, the market is very heterogeneous: some properties are true medieval castles (with moats and drawbridges) and Renaissance castles, while others are more akin to prestigious mansions, manor houses, or lordly estates. This great variety of properties logically leads to significant differences in prices.
In addition, the price of a castle can vary greatly depending on its characteristics (condition of the property, nature of renovation works, location, history, title, size...). The market therefore offers prices ranging from a few hundred thousand euros to several million (in France, castles sold for more than 2 million euros, however, find few buyers, except for classified historical monuments). In addition to the initial sale price, maintenance costs and charges must be added, which can be particularly high for this type of property - expect to spend around 20,000 to 30,000 euros per year to maintain an average-sized castle.
WHERE ARE THE CASTLES LOCATED IN FRANCE?
Almost all regions of France are home to castles. Historically, the most sought-after territories for this type of investment are the Loire Valley, the Paris region, and the coastlines (although the supply is rare there).
WHY INVEST IN A CASTLE?
Buying a castle should be a step primarily guided by a passion for heritage and ancient stones. It is necessary to be a true enthusiast to embark on this project, as maintaining the building requires a significant human and financial investment, and profitability is very difficult to find, even when developing guest rooms or a hospitality offer. However, castles remain sought-after properties in France that can be resold, but they rarely generate profits.
HOW TO FINANCE THE PURCHASE OF A CASTLE IN FRANCE?
Several financial aids have been put in place by the State to help those who wish to buy a castle in France. However, these programs are mainly intended to finance part of the maintenance and renovation costs, rather than covering the real estate purchase itself.
BUYING A CASTLE FOR ONE SYMBOLIC EURO
Some organizations and local authorities that own castles resell their properties for one symbolic euro. But beware: if you choose this option, you will be required to cover the castle's renovation works.
TAX REDUCTION FOR PROTECTED CASTLES
If your castle is located in a protected area, the 2014 Malraux law grants you a 30% tax reduction when you engage in renovation works. When the property is in an area of protected architectural or landscape heritage, the tax reduction is 22%.
PUBLIC SUBSIDIES FOR CLASSIFIED/REGISTERED HISTORICAL MONUMENT CASTLES
The administration can subsidize maintenance and conservation works if your castle is registered or classified as a historical monument. In addition, it is possible to benefit from a more advantageous tax regime - the land charges related to protected parts are deductible from taxable income up to 50%.
If you intend to buy a castle in France, get help from professionals in our agencies specializing in luxury real estate.