The prices of Le Figaro Mansions have dropped by up to 25% because of the real estate challenge, the source said.
Le Figaro reported on Sunday that the prices of French chateaux have dropped because the real estate market is still in trouble.
The value of chateaux has dropped by 20–25% over the past year, while the value of standard homes has dropped by 5–10%, the source said.
France is in the middle of a housing disaster, with sales down about 15% from last year. Industry experts say buyers can’t afford a mortgage because the costs are too high; this is the lowest house building since 2010.
Even though they are well-known, the roughly 40,000 French chateaux have not been spared by the chaos, the news source said.
“Some owners thought that chateaus would follow the trend of rising prices, just like homes near the water or in the city. “This is to forget that the chateau market is less liquid,” said Olivier de Chabot-Tramecourt, head of Groupe Mercure.
In 2022, his company sold more than 100 chateaux for an average of €880,000, about $990,000. The outlet says that only 3% of all French chateaux are being sold.