There are roughly 300 dilapidated castles and historic mansions in Hungary currently on the market. But even though some are for sale at prices comparable to medium-sized Budapest flats, few are likely to change hands anytime soon, owning to the huge expenses associated with their renovation and maintenance.
Imre Gál, owner of real estate company Magyar Tengerpart Ingatlanforgalmazó Bt., said interest is high in castles, mainly on part of Hungarian businesses but also French, British and Scandinavian buyers. There are roughly 80 castles and mansions in the company’s portfolio. The cheapest mansions are offered for between Ft 4 million-Ft 5 million (€15,000- €19,000), while those in a better condition cost between Ft 30 million-Ft 100 million. Castles are more expensive.
Judit Sinka, communications leader of Székesfehérvár’s Élvit Real Estate Office, said both foreign and Hungarian buyers were interested in castles. However, often the reason for the deals never being realized is that renovating the buildings which are historical monuments is seen as too complicated. [napi.hu]