Fancy buying a castle in Hungary on a budget? Here’s your opportunity – PHOTOS
In Hungary today, over 150 castles are up for sale, offering a unique blend of historical charm and investment potential. The majority of these majestic properties are located in Pest and Bács-Kiskun counties. Prices range dramatically, from as low as HUF 17.5 million (EUR 44,313) to a staggering HUF 12 billion (about EUR 30 million). Prospective buyers should carefully study the market to navigate this vast price spectrum and make informed decisions before buying a castle in Hungary.
The Hungarian castle market
Economx reports that a recent survey by ingatlan.com reveals that over 150 castles are currently for sale in Hungary, showcasing significant variations in the market. László Balogh, an economic expert, highlighted that the most expensive castle in Hungary, located near the Austrian border in Szombathely, is listed for nearly HUF 12 billion (EUR 30 million).
This property, featuring 41 rooms and a 65,000-square-metre plot, includes unique items such as Count István Széchenyi’s bookcase and Count Gyula Andrássy’s bed. Documented since the 16th century, the castle was fully renovated in 2004 and gained approval for a thermal spring in 2021. Therefore, the priciest castle in Hungary is surely worth its price.
Prices vary majorly for a castle in Hungary
The Hungarian castle market displays a vast range in both quality and price. The cheapest castle, a 9-room historical monument in Tibolddaróc, Borsod-Abaúj-Zemplén county, is listed for less than HUF 18 million (EUR 45,574) but requires significant renovation. This makes this unique building the cheapest castle in Hungary at the moment. Sellers are primarily targeting investors with a vision for the property’s potential. On average, a Hungarian mansion costs nearly HUF 300 million (EUR 759,571), offering around 600 square metres of living space on a 6,000 square metre plot.
Diverse prices, diverse conditions
László Balogh, an economic expert from ingatlan.com, highlighted the diverse conditions of castles, from modern properties to those needing extensive work. In Budapest, the average castle price is HUF 1.5 billion (EUR 3.8 million), while the lowest average is in Tolna County, with an average of around HUF 22 million (EUR 55,728). Of the 151 mansions listed, Bács-Kiskun and Pest counties have the most for sale, with 17 each. Veszprém and Szabolcs-Szatmár-Bereg counties stand out in terms of median floor area, with one notable mansion in the latter on a plot exceeding ten hectares.
Something old, something new
Economx’s exploration was prompted by a notable advertisement for a castle in Recsk, Mátra, priced at HUF 229 million (EUR 580,062), comparable to a spacious family house in Budapest or its suburbs.
This highlights the broader issue of castle preservation in Hungary. According to Regő Lánszki, the State Secretary for Construction, the government aims to involve private capital for the sustainable operation of castles. Despite efforts, including the restoration of over a dozen castles with state and EU funds under the National Castle and Forts Programme, many of Hungary’s 1,500 castles have disappeared or deteriorated, requiring ongoing financial support for their upkeep. Therefore, buying a castle in Hungary offers a unique opportunity to make something new of old castles.
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