Looking for a real estate investment? Financial advisor Sandro Renghi has a property for you – a 5th century Italian castle called Carbonana Castle.
USA Today reported that for the bargain price of $9.8 million dollars, you can purchase your very own, one-of-a-kind castle in the beautiful hillside Italian city of Umbrian from Renghi’s client; however, it needs a little TLC – $5 million worth if you want to go all out.
The 37-room fixer-upper sits on 50 acres in Umbrian, which is often referred to as the “Green Heart of Italy,” according to the real estate site viadeicolli.com where it is featured.
Completed in the 14th century, the 13,500 sq. ft. medieval edifice includes dungeons, wine cellars, a chapel and tower rooms on the inside; while outside, the property consists of an olive grove, vineyard and a spattering of fruit trees.
What clientele are in the market for a castle? Russian, British and American investor groups who look at the purchase as a possibility that it will be developed into condos or timeshares, USA Today reported.
Renghi told USA Today , “My clients come to me and say, ‘Sandro, I want to invest in a castle. What can we do?'” So far he has sold three of the eight that he is currently representing.
Buying Carbonana Castle isn’t for the faint of heart. The Italian government has stringent guidelines on how castles can be restored. So don’t go in expecting to knock down walls and installing an IKEA kitchen.
If Carbonana Castle isn’t to your liking, then head over to neighboring France where for $3 million cheaper, at $6.3 million, you can purchase a castle just 90 minutes outside of Paris that is already renovated, and provides an income, the international property listings site viviun.com described.
Source: My Fox nepa
