Château de Versailles for sale: France must shore up its coffers

For several years, the French state has begun selling part of its property portfolio with the aim of reducing public debt. This would be an important source of revenue that could help the French economy get back on its feet and lessen the impact of the global economic crisis. Very recently, a prestige property has come onto the market, and not just any property since it is the Château de Versailles! The entire Sextant team is proud to announce that it has been chosen, alongside two other agencies, to sell part of the famous castle of the French kings.

According to INSEE (National Institute of Statistics and Economic Studies), public debt stood at over 2 trillion euros in 2015, which is equivalent to 97.5% of GDP. The state therefore desperately needs to shore up its coffers. Selling part of its property portfolio therefore seems like a good idea, especially since this portfolio is particularly significant, in France and abroad. Indeed, it represents over 25,000 properties with a total value exceeding 60 million euros. For private buyers, this is a great opportunity to acquire atypical properties such as former barracks, military sites, castles, convents… But more than an atypical property, a monument has just come onto the market, and if you are passionate about history, it will be difficult for you to walk past.

The preferred residence of the French monarchy, from Louis XIV to Louis Louis XVI (17th–18th centuries), the Château de Versailles was enhanced by several generations of architects, sculptors and landscape gardeners. In Europe, the Château symbolised for over a century the quintessential royal residence.

Obviously, this property offers facilities that defy all competition: a surface area of 67,000 square metres, 2,000 rooms, 2,513 windows, 352 chimneys, 67 staircases, 483 mirrors… As you can imagine, the decoration is typical of the period. The crystal chandeliers, the tapestries and the gilded mouldings will dazzle you. Outside, the park covers an area of 800 hectares with two French-style gardens (the Petit Parc and the Trianon), 42 kilometres of avenues, 372 statues and 55 basins.

With a price per square metre of approximately 5,500 euros in the commune of Versailles, the sale price of this grandiose property would reach and even exceed 370 million euros. Of course, you cannot buy the entire Château but you could have your own space in Versailles, next to the former apartments of Marie Antoinette.

Chinese investors are already showing great interest in the offer. Indeed, limited by property ownership legislation in China, they are looking for properties abroad and, unsurprisingly, their favourite destination is Paris. Over the last five years, many castles, apartments, town houses and even vineyards have been purchased by Chinese investors. Furthermore, business people are looking for prestigious venues to receive their clients. What could be more prestigious than the Château de Versailles to impress a client during a business meeting or a royal banquet?!

Of course, you can also benefit from the opportunity to live in the Château of the French kings!

If you would like more information about this property click here… (April Fools’!!)