Though the number of castles sold worldwide is minuscule compared to the overall real estate market, it has increased in recent years, thanks to the rising wealth of buyers, increased visibility--there are several castle-specific Web sites out there--and general enthusiasm for real estate.
There is a surprising range of castle options to choose from these days. They can be age-old or spanking-new, in New Jersey or South Africa, and have turret-high or relatively affordable prices.
In fact, depending on the exact location, the size and the level of restoration, smaller castles can be purchased for as little as $1 million--easily the cost of a two-bedroom condo in Manhattan. Slightly grander castles will fetch somewhere between $2.5 and $5 million, says castle expert Alexander V.G. Kraft, chief executive of Sotheby's International Realty France.
He teases his American friends: "Why don't you sell your garage in London or New York and buy a castle in France instead?"
Of course, the price tags can be much bigger for historically significant, fully restored properties, particularly if they come with vast amounts of land. Consider the 10,000-plus square foot Villa Castiglione in Capri, Italy (pictured above). Resting on nearly seven acres perched on a cliff above the sea, the seven-bedroom Camelot is currently on the market for $38 million.
Kraft estimates that a few hundred castles are up for sale around the world--often quietly, to protect owners' privacy.
And what qualifies as a castle has altered over time. During the Middle Ages, a castle was specifically a fortified structure, largely built to defend nobles against hostile intrusions. Today, the term encompasses a broader range of ornamental homes, from manors to mansions to chateaux.
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