Real estate auction in Altenburger Land: opportunity or risk for investors? Financial expert analyzes background

Real estate auction in Altenburger Land: opportunity or risk for investors? Financial expert analyzes background

According to a report by www.otz.de, five properties in Altenburger Land are up for auction. Prices on the real estate market are falling, which also affects rural areas. The offers range from a single-family home in Dobitschen for 5,000 euros to an apartment building in Treben for 9,000 euros. Sächsischeimmobilienauktionen AG (SGA) refers to the necessary investments for a fundamental renovation, which are comparable to the costs for a new building. If the low prices are not achieved, there is the possibility of putting the objects up for auction again.

A closer examination of the individual properties shows that the properties are in need of comprehensive renovation. For example, a single-family home in Dobitschen is empty and needs extensive renovation, although some renovations such as the roof and facade have already been carried out. Another property in Ziegelheim, an apartment building, is also in great need of renovation, despite the electrical system and gas heating system having already been modernized.

The trend of the declining real estate market in rural areas is also expected to have an impact on the sales prices of the auctioned properties. The low starting prices could attract potential buyers, but the costs of necessary renovations should also be taken into account. It can be assumed that the real estate market in Altenburger Land will continue to be in a precarious situation due to these developments.