The Czech castle of Liběchov is also put up for sale
As Radio Prague notes, at the beginning of the 90s, immediately after the Velvet Revolution and the start of the restitution process, this branch of real estate trading appeared in the Czech Republic – the purchase and sale of castles. Foreigners often appear among the buyers. A notable part here are the citizens of the Kingdom of the Netherlands, for whom the hilly and forested Czech Republic gained unprecedented popularity right after the fall of the Iron Curtain. Old residences are also eagerly bought by residents of neighboring countries – Germany and Austria, as well as Italians, active players in the Czech real estate market. Russians also show interest in such an original type of housing.
If a buyer purchases a dilapidated structure, he, of course, should be prepared for serious and costly reconstruction, including replacement of all utilities, etc. Prices for castles that do not require major repairs start from 1 million euros, and a fully prepared residence ready for occupancy the day after purchase will cost even more. It should not be forgotten that maintaining a castle also requires certain funds. And, having bought a castle for 120,000 euros, it should be taken into account that utilities alone will cost half that amount annually.
Moreover, the reconstruction of a historical object must be coordinated with state monument protection authorities. Sometimes owners are obliged to restore the original appearance of literally everything – from window frames and latches to facade and ceiling paintings. At the same time, even possible subsidies from the Ministry of Culture and EU funds will not cover all costs of reviving the object.
However, in the highest price category on the Czech real estate market, of course, one can find ready-made objects. For example, the castle in Radovesnice, once bought as ruins, is now fully restored and turned by its current owner into an expensive hotel. In Smilkov, you can see a fully finished castle with a park, several ponds, and even a Baroque theater pavilion. The Mceły castle near Prague, whose owners included the famous commander Wallenstein, was converted by its American owner into a five-star hotel.
After all, castles in the Czech Republic are bought not only or even primarily to live in: many large companies set up offices, conference and seminar facilities, and hotels there. Some castles are used as comfortable nursing homes, private clubs, museums – so the investments in the object can be recouped and even generate profit.
Another positive example of using such an object for commercial purposes is the castle in Herálec, Havlíčkův Brod district. As for investments, for example, the cost of restoring the castle in Letovice, Blansko district, amounted to about 25 million crowns (926,000 euros) over 12 years, although the owner initially assumed they would be four times higher. Of course, much depends on how much personal effort and time the new 'illustrious lord' invests in his ancient nest.
Those buyers who, by purchasing a castle, pay tribute to youthful fantasies drawn from adventure novels, put first the history of the object and the legends associated with it – of course, about the spirits and ghosts supposedly living there. For example, the seller of the castle in Nová Lhota near Čáslav, offering a perfectly restored building, does not forget to inform potential buyers that the ghost living there 'likes to stomp on the stairs and make other noise'.
In general, we can recall Oscar Wilde's story 'The Canterville Ghost': 'When Mr. Hiram B. Otis, the American Minister, bought Canterville Castle, everyone told him he was doing a very foolish thing, as there was no doubt at all that a ghost was in possession... Well, my Lord, answered the Minister, I will take the furniture and the ghost at a valuation.'