International tourism continues to grow (and is expected to do so for many years to come) and thus there is a very healthy demand from tourists all over the world to stay in castles. Although some state bodies have recently sold some historic assets, this is the exception rather than the rule.Ĭastles can generate significant income if appropriately managed.
Regarded as the model of a medieval castle, and boasting 14 castle gates, the exterior has changed very little since the 16th century and has been owned by the Khevenhller family since 1571. With regards to the value of the property itself, castles are a rare asset with no new supply to the market (excluding ‘new’ mock castles being built) and arguably a diminishing stock – both from the perspective that some are inevitably falling in to ‘ruin’ category and will never be restored and others are also being bought by states and preservation bodies to ensure they remain open to the public for perpetuity.Ĭastles in the hands of private owners are therefore becoming more rare and that is a positive thing for prices in the future. One of Austria’s most impressive and imposing medieval castles/strongholds, Hochosterwitz is a rock-castle that towers above the valley at 172 meters. Whilst Castleist can’t offer its readers specific advice on the investment potential of a castle, we are happy to make some general observations on the castles for sale market: