2024-01-28 06:00:10
In a particularly complex real estate market, castles are not doing so badly. At the end of the annual report of the Mercure Forbes Global Properties group, a network specializing in prestigious and character real estate, very present in the niche of castles, we learned that the brand sold 104 of these heritage homes last year. This is certainly less than in 2022 (where the group recorded 113 sales in this niche) but it remains a more resilient activity than others. Knowing that the group also sells apartments and houses of character in town and in the countryside, it shows an overall decline in transactions of 19% for 2022.
“Demand for houses remains significant and price drops are lower in the provinces than in Île-de-France”, puts Olivier de Chabot, general director of the group, into perspective. Curiously for this brand whose headquarters is in Toulouse, sales north of the Loire weighed 60% this year, holding up better than those in the south without being able to explain this trend. Another clearly identified trend, like other luxury networks: the high end is resisting the best with prices which are still spared from the drop.
Ceiling the distant
By combining these different characteristics, the châteaux strengthen their weight in Mercure transactions since they accounted for 40% of the number of sales in 2023 compared to 34% the previous year. On the other hand, if buyers seem more motivated than ever, there is no question of prices soaring. “Properties below one million euros sell very well as long as the price is consistent with the condition and location of the castle, explains Olivier de Chabot. Then between 1.2 and 1.6 million euros, it remains more or less liquid but beyond that, there is a glass ceiling. The group only recorded 11 sales exceeding 2 million euros last year.
This castle in impeccable condition, located at the gates of the Luberon, not far from Isle-sur-la-Sorgue, is for sale for 3.5 million euros. Photo Credit: Mercure Forbes Global Properties
As for the buyers, they are more French than ever with 80% of the total. “We find a historical and natural clientele of heritage enthusiasts, recalls Olivier de Chabot. And alongside them, new, more pragmatic and wealthier buyers who, beyond the architectural qualities of the property, are interested in its profitability for a real business project, whether around an event, agricultural or wine-growing activity. These profiles often come from the business world.” On the other hand, the post-covid clientele who wanted to try this rural adventure melted like snow in the sun. Even, for some of them, they have already put their property up for sale, because the transplant has not taken root with this new way of life. “A property resold too quickly is the worst situation for us, recognizes the boss of the Mercure group. The buyer then necessarily thinks that there is a wolf, even if that is not the case.
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