Alexandria Cottage in Heiligendamm: Germany's most expensive villa is for sale. Financial expert warns of high renovation costs.

Alexandria Cottage in Heiligendamm: Germany's most expensive villa is for sale. Financial expert warns of high renovation costs.

According to a report from www.capital.de, the Alexandria Cottage in Heiligendamm, Germany is for sale for the hefty price of 40 million euros. The villa, which is located directly on the Baltic Sea in a private park, offers 18 rooms on 1,449 square meters of living space. The property was built as a seaside resort in 1841 on behalf of Grand Duke Paul Friedrich of Mecklenburg-Schwerin and has not seen a resident for decades. The condition of the villa is anything but impressive. The pictures show moldy walls, cracks in the floor and mold. The sale takes place without any renovation work.

The unexpected sale of the Alexandria Cottage and other unrenovated villas by the owner and investor Anno August Jagdfeld causes astonishment. The local newspaper reports that Jagdfeld has offered several unrenovated villas and hundreds of hectares of land in recent months. Despite the dilapidated condition, the price is well above the usual top prices on the current real estate market.

The fact that such expensive properties are being offered in this condition makes people sit up and take notice. The villa is listed, which will make an urgently needed core renovation even more expensive. The owner's decision to put the villas on the market right now is causing speculation regarding the economic situation and the increased interest rates in the real estate market.

It remains to be seen how the sale of the Alexandria Cottage and other unrenovated villas will affect the German real estate market. Given the unusually high price, this could be a sign of a shift in potential buyers' purchasing habits and preferences.