Foreigners are buying up castles in Germany

Foreigners are buying up castles in Germany

Foreigners are the main buyers of German castles. The major foreign investors are Russians, Chinese, Turks, Dutch and Italians, reports The New York Times.

Now the real estate market in Germany is about 5,000 castles. Living area ranges from 372 m2 to 1997 m2, and the cost varies from €10.1 million to €19.5 million. Only one-third of all castles has been completely restored.

The experts also noted that the property has risen in Germany, despite the crisis. For example, in some Munich areas the price tag on accommodation rose by 30-40% over the last 3-4 years.