East German village sells for 140,000 euros

Berlin

THE only bidder at an unusual auction on Saturday put down 140,000 euros (about S$222,750) and walked away the new owner of a small slice of German history: the village of Alwine, population 20.

Its empty homes and ageing residents mirror the wider fate of the ex-communist east German hinterlands since the country's reunification 27 years ago. The anonymous buyer, who bid by telephone, 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.