If prices for big boats at Balaton are sinking, how about costly castles?

Today on Caboodle.hu you can read about sinking prices for larger pleasure boats at Lake Balaton. Meanwhile, by coincidence, local style and shopping siteVelvet.hu recently featured an excitable article about the most expensive properties for sale near Hungary’s top watery vacation spot. Let’s connect the dots!

The pic up top is for a 400-square meter kastély (“castle”) in Fonyód designed in the popular “organic” style of the late Hungarian architect Imre Makovecz, which is on the market for HUF 246.5 million (roughly EUR 850,000). And this was one of the cheaper properties in the piece; the 1 spot was taken by a listing for another “castle” in Tihany of the same square meterage for HUF 950 million.

If you click through to the listing for the HUF 950 million kastély and are wondering why someone would list a house for the equivalent of EUR 3 million and not even offer a picture of the outside of the property, that’s no doubt due to the Hungarian market’s quaint lack of exclusive listing; The listing agent is afraid another agent or interested buyer will be able to track down the house and go around them.

But given overall stagnation in prices at the Balaton and the way residential property at all price points in Hungary tends to sit on the market forever, we don’t think this agent needs to be so worried about someone stealing their commission, since this thing is likely to find a buyer at even 20% off about as fast as a 100 meter yacht moored down by the beach.

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