“When Mr. Hiram B. Otis, the American Minister, bought Canterville Chase, everyone told him he was doing a very foolish thing, as there was no doubt at all that the place was haunted… ‘My Lord,’ answered the Minister, ‘I will take the furniture and the ghost at a valuation.’” This is the opening passage of a famous novel by Oscar Wilde (Canterville Ghost). And have you ever thought of buying a castle – even a haunted one? A genuine and a very old castle where walls were exposed to the gunpowder of the Thirty Years War, or even crusaders' swords? Or an elegant building erected in the shadows of a cosy park in the wonderful baroque age? In the early 1990s, just after the end of the Socialist regime, and restitution, the Czech Republic developed a special real estate branch – castle trade. The demand in this area is constantly increasing. The agencies and Internet offer over 100 old residences for sale. Typically, castles over €8 mln are not available for public sale.
You can find a castle at a fabulously low price – about €100,000. But prepare for a serious and expensive reconstruction, as the condition of this castle including internal communications is likely to be uninspiring. When buying such ruins, the chances are that you will not be able to move in soon. Starting at €1 mln, you will get a castle that does not need any capital repairs. And prepare to pay even more if you need a turnkey residence for moving in right after the sale. Also note that you will be paying a lot for your castle’s maintenance.
Buying a castle at €120,000 means that each year you will pay half of this amount for utilities, apart from any investments.
Those intending to purchase a castle should also note that each reconstruction will have to be approved by the State Heritage Preservation Authority, which closely monitors any changes to historical design. Some owners are required to restore virtually their entire castle – from window frames and latches to facade and ceiling painting. Obviously, this type of restoration translates into large investments, but the good news is that an owner can apply for external reconstruction financing.
One of the potential financing sources would be the Ministry of Culture of the Czech Republic, but do not expect them to cover more than 50% of reconstruction expenses. Another source is EU funds. Do not expect any magic here, either. The main problem about this source is heavy bureaucracy. To receive financing for your historical castle reconstruction, you will need to obtain approvals from a variety of authorities and do a lot of paperwork.
However, those truly committed to moving into a castle typically succeed.
Who Sells Castles in the Czech Republic? Castles are available for sale from their owners. These include original owners who received their properties back during restitution, and the "newer" owners such as companies or individuals who bought a castle in the last 15 years. A special category includes the state-owned castles. The state did not return to their original owners some of the castles taken over by socialists, as the former did not claim them back.
Some of these castles were confiscated from collaborators. Today, ministries and other authorities in the Czech Republic are willing to sell these castles, currently converted into resorts, hospitals or state residences, due to high maintenance costs. Currently, the Ministry of Public Health is selling their property, including several castles. More real estate available for sale comes from the municipalities, which cannot cover maintenance and reconstruction costs from their budget.
Who Purchases Castles in the Czech Republic? Mostly, these are Dutch people who have been favouring the hills and forests of the Czech Republic after the fall of the Iron Curtain. The residents of adjacent countries such as Germany, Austria and Italy are also proactive buyers of old residences on the Czech Republic real estate market. And it is not only Europeans who wish to own a Czech castle. Recently, the billionaire Terry Gou from Taiwan purchased the Empire castle Roztěž near Kutná Hora. Gou ranks 147 on the Forbes 2007 list. Currently, Gou owns Foxconn, a PC and cell phone assembly company, one of the largest employers in the Czech Republic. He named his Czech castle "Casa Serena" after his late wife.
Today, Chateau Mcely located near Prague (previously owned by the famous military commander Wallenstein) is owned by American producer James Cusumano and his wife Inez. They converted this castle into a five-star hotel. Recently, wealthy Czechs such as entrepreneurs, musicians and artists have also been inclined to have a prestigious "aristocratic address."
For many buyers, a Czech castle is not intended just for living: many large companies convert castles into offices by using them for conferences or seminars, or hotel space. Some of the castles are used for comfortable nursing homes, member-based clubs, or museums. It is the castle owner who ultimately decides how to use the castle : convert it into a tourist destination, use it for meetings or simply gaze at the stars from the tower, waiting for the ghost of the White Lady...
Czech castles are always in high demand, despite of all the difficulties. Buyers are increasingly looking to buy a unique home, very different from typical apartments and houses. By purchasing an ancient building, the owner also gets his hands on the "history" of the castle. Each day at this ancient location brings a new living experience – gothic arches, the Renaissance-style doors, an underground system dating back to the Hussite wars… Living in a castle is a wonderful game that is hard to resist.
Castles for Sale: .
Sindelov Castle (Karlovy Vary region) 18th century building, the summer residence of the Nostitz family.
Accommodates over 100 people.
Price: €2,400,000
Horni Marsov Castle (Karlovy Vary region, Trutnov area) Erected in 1792, rebuilt in 1869 in the Neo-renaissance style. The castle was partially reconstructed in 1998-1999, including communications, roof and facade.
The castle is surrounded by a 22,265 m2 park with tennis courts.
Price: €699,999
Sadek u Сaslavic Castle (Trebic area) Located in the picturesque region of Vysočina, the castle provides magnificent views of the surrounding area. Legend has it that the castle was built around 1200 by a master fromKocapil and used as a fortress.
Price: subject to negotiation with the owner
Novy Dvur complex (settlement of Novy Kostel) Erected in 1792, the patrimonial residence of theMulc family fromValdov. The complex includes residential houses, stable, manor jail building, storehouse, etc. Cultural heritage. Land area is 8,519 m2.
Price: €80,000
Horni Lichava Castle (Ceska Lipa region) Erected in the 16th century and located 4 kmfromCeska Lipa. Includes 3 floors and a spacious basement. National heritage.
Castle area: 1,886m2, land area: 7,651m2.
Price: €208,000
Contact: info@bmiris.com
