European castles going for £1

European castles going for £1 - at Moneyweek.co.uk - the best of the week's international financial media.

Who'd want to own a castle? As Anthony Steyger and Jack Gee point out in the Daily Mail, they might look nice, but with their draughty corridors, damp walls, windswept turrets, titanic maintenance bills and awkward locations they are really a pretty unalluring prospect. And, as such, one best left to wealthy aristocrats, royals and the oddball celebrities who have the deep pockets torun them.

This is sensible advice, but it isn't always heeded: many of us still want to be "king of the castle". If you do, say Styger and Gee, note that there is one main rule with castle buying: don't do it in Britain. Here, even the most modest one will set you back at least £5m. Instead, look to France, Spain, Italy, Austria and Germany - there are more than 40,000 castles in mainland Europe, but demand is thin on the ground. Which means they will often go for the price of a four-bedroom house in Leeds - or even cheaper, if you are prepared to renovate a wreck.

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