Balfour Castle, Estate of the Day
Luxury real estate is slumping here in the United States and it's not all much better elsewhere. Recent statistics reveal that sales of Scottish sporting estates, large properties that appeal to the wealthy sportsman, are on the decline. The Telegraph reports that of the 26 estates up for sale in 2008 only 12 of them were sold by the end of the year. In 2007, according to Strutt and Parker, all 16 estates put on the market were sold with an average premium 15 per cent above the asking price.
This may be the time for foreign investors to make their move and if you should happen to have some spare money Balfour Castle in northern Scotland would make a fine purchase. The expansive estate on the isle of Shapinsay in Orkney includes a 13-bedroom 'A' listed castle built in the mid 1800s and acres for wildfowling. The castle's large formal rooms are done in Victorian style with elaborate fireplaces and intricate ceiling work. It was run for years as a hotel and the land includes three cottages and a farmhouse. It is listed at £2,700,000.
