One year after the end of the first confinement period, the French craze for châteaux is confirmed. With 4,755 châteaux sold in France since 1982, representing one in every three châteaux sold in the country, prestige and character real estate specialist Groupe Mercure Forbes Global Properties has noted the renewed interest in this type of property. While this niche market had remained sluggish after the stoppage marked by the 2008 financial crisis, prices that had stopped falling in 2018 held steady in 2020. Mercure Forbes Global Properties Group also noted a 15% increase in chateau sales in 2020, a trend that is set to continue in 2021.
The popularity of castles, a symbol of the craze for heritage and rural life
The quest for authenticity, combined with the democratization of telecommuting because of the health crisis and successive confinements, has rebalanced the real estate market towards rural areas, character properties and castles.
Much more than the purchase of an apartment or a house, the acquisition of a château is not only the fruit of a carefully considered project, but also corresponds to the desire to pass on a history through the acquisition of a heritage. Over and above the changes in behavior brought about by covid, this appetite for châteaux reflects a shift in values towards the need to anchor oneself, which goes hand in hand with sustainable consumption, the primacy of the long term and the return to favor of the tricolor brand.
If the craze for châteaux was clearly felt at the end of the first confinement, with ultra-urban customers looking for an escape after two months of seclusion, the end of 2020 saw a return to a more composed clientele, with more considered projects. Since the beginning of the year, this trend has continued, with motivated buyers whose plans are essentially family oriented. Given the economic situation and the difficulties in the hotel and events sectors, the market remains predominantly residential.
Prices that vary according to location and shorter transaction times
A sign of the health of this niche market is that transaction times are becoming shorter, and the balance of power has even shifted to the seller’s side.
Like other types of property, location plays a decisive role in the price of a château. While the average price is around 830,000 euros, there are considerable regional variations. Chateaux located within a 15km radius of major cities, and within a 100km radius of Paris, are gaining in value. Around Paris, the Oise, Picardie and Normandie regions are on a roll, as are the Indre, Cher and Nièvre regions, all within 2h30 of the capital.
About Mercure Forbes Global Properties
Specialists and true experts, Groupe Mercure Forbes Global Properties has been offering the most comprehensive selection of French real estate for over 80 years. From charming houses and châteaux to country estates, urban and contemporary real estate, the Mercure Forbes Global Properties Group offers more than 2,000 authentic or exceptional properties for sale throughout France, including 400 châteaux, enabling lovers of fine stone to restore and preserve a unique architectural heritage. With 20 locations throughout France and an international team, the Mercure Forbes Global Properties Group meets the needs of a high-end French and foreign clientele.
