Most available offers are in the eastern part of the country. However, one should not think that all this is property in dull towns built during the socialist era, writes The Property Wire. Interesting properties can be bought at auctions – mills, abandoned houses, barns.
According to Andrew Binshtock of SKB Auctions, an auction house specializing in real estate in this part of Europe, East Germany is attractive for its nature – lakes, forests, other natural beauty and prices.
As an example, Binshtock cites a guest house with 20 bedrooms and many other rooms and two bowling alleys, which is sold for only £14,000 ($28,000). The house is located in a small German town near the Czech border, and according to the seller, has great business potential. Do cosmetic repairs, buy a gas heating boiler - and you can live. Among other offers is a mill in Saxony with two bedrooms, surrounded by lakes for £15,000 (about $30,000).
According to Lenta.ru, another plus is that most properties put up for auction have no starting price. Even if an auction participant offers only $30 and no other bids follow, he gets the house. 'For the money you would spend on a one-bedroom apartment in London, you can buy an entire German village,' adds Binshtock.
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