Because real estate is a solid asset class around the world, European investors are growing interested in castles, farm and manor houses, and rural estates. Properties in decent to excellent condition, preferably on a large piece of land, are in high demand. Private hunting and water rights, as well as forestry and agricultural land, are all attractive features. Approximately 80% of buyers of such estates are still German citizens. However, according to Christoph von Schenck, Head of Business Segment Castles & Manor Houses at Engel & Völkers, there is a definite trend: "The number of international purchasers that are interested is rapidly increasing. We are progressively receiving buyer requests from China, in addition to inquiries from Western Europe, the former GUS republics, and Arab governments. In many cases, international buyers already have a home or business in Germany." Christoph von Schenck sees this high level of foreign demand as an indication of commitment to the preservation of cultural and historical values, in addition to the desire to invest in Germany for reasons of political and economic stability. the pearl qatar
"Properties with a historical history that are also within close proximity to a large metropolis are in high demand, both among German and international purchasers. In northern Germany, for example, in the region surrounding Hamburg, we are seeing a lot of demand "Christoph von Schenck remarked. In the German states of Schleswig-Holstein, Mecklenburg-Western Pomerania, and the northern section of Lower Saxony, a number of ancient estates have gone on the market in recent years. Consequently, despite the great demand, Christoph von Schenck remains hopeful that prospective buyers would be able to fulfill their ambition to buy in northern Germany.
Altfresenburg Manor House is a notable heritage property.
Altfresenburg manor house, for example, is currently for sale in the county of Stormarn, just 45 minutes north of Hamburg's city center. Hugo von Buchwaldt, a descendant of the Holstein region's ancient aristocracy, commissioned Christian Frederik Hansen to construct the home near Oldesloe as the family seat in 1791. The palace is recognized as the last extant mansion created by the Danish architect, who is undoubtedly the most significant proponent of Classicism in northern Europe. Hansen designed some of the best classical-style private mansions on Hamburg's Palmaille and the famed Elbschaussee, in addition to Christiansborg Palace in Copenhagen and other archetypal buildings. The Altfresenburg manor home, which dates back over 200 years, is a testament to Hansen's unpretentious architectural style. Inside, however, it retains its original stucco ornamentation, as well as magnificent supra-portals and artistic pilasters. "This is quite rare nowadays, and it elevates the property's value to that of an antiquity," Christoph von Schenck remarked.
Every time a house designed by Hansen hits the market, it demonstrates the high degree of international attention and adoration he continues to enjoy. When the Altfresenburg manor house in Schleswig-Holstein was added to Engel & Völkers' property inventory, it sparked significant buyer interest not just from Germany but also from around the world.
Historical properties can be put to a variety of uses.
The reasons for buying an ancient house like Altfresenburg are as diverse as the people who want to buy it. Investors and project developers look for historic properties that can be used for commercial purposes. These include significant company locations, restaurants, hotels, conference and seminar centers, as well as the building of remarkable event venues or conversion into excellent vacation rentals. However, Christoph von Schenck is well aware of the motivations of private persons who may be purchasing such a property to realize a long-held dream. "Many of our clientele have a strong sense of tradition. They see the potential to acquire an ostensive piece of history that a historical estate affords. They may also be motivated by the prospect of living the mythological life of a lord of the manor as it was in bygone periods. There have been instances where such a vision has become a reality "According to the heritage specialist.
Differences in the pricing structure
The value of historic properties has seen significant fluctuations. In addition to the condition of repair, the most significant aspect in determining the value of any property is its location. Estates located in rural areas are less likely to find a buyer than castles and manor homes located within the catchment area of metropolitan towns. The price of a sale varies depending on the criteria used to evaluate it. Castles in Germany that are in excellent condition can easily sell for more than 20 million euros. Because many of these properties are recognized for their historic significance, both capital investors and private owners can benefit from tax deductions for funds set aside for monument preservation.
Beyond the financial gain, Christoph von Schenck has discovered a non-material motive for estate holders' commitments: "Keeping a listed property in good repair is always a cultural and historical endeavour, putting it in the public interest. Many of the new custodians find the task of properly modernizing the heritage property entrusted to them an extremely interesting and fulfilling challenge."