Offers of Czech historic buildings outstrips demand

Offers of historic buildings, castles and stately homes in the Czech Republic outstrip potential interest, according to the Czech News Agency after sounding out real estate agents. Many would be buyers are deterred by the considerable reconstruction work and costs that would be required, real estate agents said.

Conservation restrictions on what changes can be made are also a problem with buyers intending to carry out major changes and transformations. Most of the interest in such buildings comes from abroad, mainly from France and Russia, the report added.

The KPMG consultancy said around 1100 castles and stately homes are registered in the Czech Republic but their transformation into tourist accommodation or other uses is not expected to increase significantly in the short term.