SubscriberBusiness

The pandemic boosts castle sales

Castles, donjons, and manors are much sought after. In France, uncertainties led by the Covid-19 pandemic have boosted sales by 15% vs 2020 and are attracting a new generation of entrepreneurs seeking to transform their business into greener pastures.

Béatrice Peyrani

By Béatrice Peyrani07 décembre 2021

Catherine Deneuve's former Normandy residence, the Château de Primard, has been bought by the two founders of the hotel group Les domaines de Fontenille, to transform it into a luxury hotel (Benoît Linero)

€ 1,5 to 3 Mio

Average price for a castle of 1000m2 and 50 hectares of land in France

€ 500 000

Average annual maintenance costs for a large castle

CHF 80 Mio

The highest selling price for a castle in Switzerland

Patrice Besse is smiling. This year, his Parisian agency (Patrice Besse), which offers 75 great castles for sale, including ten of the most iconic classified French heritage, recorded a growth of 100% in his revenue vs 2020, already increasing by 40% vs 2019. A one-of-a-kind situation for the company created 1924.

Many shows and coverage about French “art de vivre” as well as an active support of the State, including the Loto du Patrimoine, have also put the castle and its new lords back in style

Patrice Besse, founder of the parisian real estate agency Patrice Besse

Last summer, the realter closed in only a few months the deal of the prestigious Château de Verteuil, a jewel of Charente built in 1080. In the hands of the La Rochefoucault family for over 1000 years, the property hosted Charles Quint and counts 19 rooms, including 14 bedrooms, 1 library, 1 chapel, surrounded by a 38-hectare garden. Its new owner, Georg Thaler, is an entrepreneur living in Berlin. The valued price of the transaction: about 2.6 million euros. While we still don’t know whether the use will be private, public visits are on hold for the time being, while over 3,500 guests would go there every year. The French market has always attracted foreign buyers seeking exceptional homes, but during the last “three years, the French are coming back”, notices Patrice Besse, as does his competitor David Mercier, manager of the castle department at the Féau group.

Ecrainville castle, Louis XIII style (Marie-Pierre Morel)

“The attacks of 2015, the “yellow jackets” crisis in 2019 and multiple lockdowns since the Covid-19 pandemic have undeniably changed our citizens’ look on old stones. They have become aware of the importance and quality of our country’s architectural heritage. Many shows and coverage about French “art de vivre” as well as an active support of the State, including the Loto du Patrimoine, have also put the castle and its new lords back in style” says Patrice Besse.

To continue reading this articles, subscribe now

CHF 10.- per month / CHF 99.- per year

  • Unlimited access to all paid content
  • Industry analysis you won't find anywhere else.
  • In-depth case studies on key business challenges.
  • Academic analyses, studies and publications written by professors and researchers from the Swiss Center for Luxury Research and some foreign universities.
  • Members-only events to grow your knowledge and network.

Share the post

Keep reading

“Intertwining art and business is a way for us to stand out from our competitors”
Art & Design

“Intertwining art and business is a way for us to stand out from our competitors”

The Valmont Foundation, a Swiss cosmetics brand, recently invested its headquarters in a venetian palace. An opportunity to explore with its founder, Didier Guillon, the often-hidden ties between art and business.

By Aymeric Mantoux

«Our people to people concept has revolutionized our way of working»
Business

«Our people to people concept has revolutionized our way of working»

In an exclusive interview, François-Henry Bennahmias, CEO of Audemars Piguet, explains how the pandemic has pushed him to radically change his relationship to clients, as well as towards his colleagues.

By Cristina D’Agostino

Register

Weekly Newsletter

Be notified of the latest publications and analyses

Register