East German village of 20 people sells for 140,000 euros

A banner advertising a house to rent in Alwine, a splinter settlement of the town of Uebigau-Wahrenbrueck in eastern Germany. On Saturday, Alwine's dozen buildings, plus sheds and garages, went under the hammer at an auction in Berlin. The village was sold for 140,000 euros. PHOTO | TOBIAS SCHWARZ | AFP

What you need to know:

  • The anonymous buyer scooped up the community that real estate auctioneers Karhausen had given a starting price of 125,000 euros.
  • In 2000, the hamlet was sold to private investors for one "symbolic Deutschmark," the pre-euro German currency.
  • Until Germany's 1990 reunification, all the property in Alwine was owned by a nearby coal briquette plant.

BERLIN

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