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24 Aug, 2014 21:27:51 BST
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Steinweg, 06721 Osterfeld
£9,500 Reserve Price

.* Please read Terms and Conditions section below before bidding.

** © Copyright 2014. All rights reserved.
*** Contact telephone - 0044 (0)7960 554 063

  • 2 storey freehold property with 3 units
  • Desirable central location in an thriving town - approx. 100m from the 'Markt' (town square)
  • Internal area: 192 sq m (630 sq ft), plot size: 424 sq m (1391 sq ft)
  • NO back taxes, debt or outstanding payments on the property
  • Extensive local government grants available for refurbishment (minimum of 30% or more!)
  • High rental opportunity, outstanding capital gain potential (see further down this page for more details)

Reason for sale

Recently made redundant, I have a portfolio of good quality properties and am reluctantly having to sell some to manage the refurbishment of others. All properties I sell have good rental and re-sale potential as they are situated in excellent locations. I only offer high yield properties in well-established areas with a strong potential for post-refurbishment capital gain and rental opportunity. For an ambitious and intelligent investor, this property is an excellent buy with good return.

About the Property          

The property is situated in the center of Osterfeld, a town in the Burgenlandkreis district of the state of Saxony-Anhalt in Germany.

The Burgenlandkreis district has an estimated 200,000 population and its municipality capital is seated in Naumburg, which is located only 10 miles north-west of Osterfeld.

The house is a very short walk away from the Rathaus (Town Hall) and all other amenities, including shops, playgrounds and parks, bakery, pharmacy, local pub, and close to the town’s main supermarket, Diska, which is a smaller subsidiary of the sizeable supermarket chain, Edeka (which has over 4,000 stores in Germany).

The property itself was built around 1900. Other buildings which surround it include residential and commercial properties. The house is served by off-street parking. Neighbouring the house are three-storey flats with their own resident parking at the back.

The property is in need of refurbishment. It is located in an Urban Redevelopment Zone (Sanierungsgebiet) which means the local government will award a minimum of 30% or more of the total refurbishment cost. There are no planning restrictions on the development of the property and it is not a listed building.

Left: Boundary plan showing plot size. Middle: Floor plan for ground floor. Right: Floor plan for first floor.

The total plot size is 424 square metres – This consists of the plot on which this property stands, totalling 335 sqm, and an additional adjacent plot of 89 sqm (good to maybe cultivate crop or position a greenhouse)

The total internal area is 192 square metres – This consists of 3 units spread over 2 floors.

Condition / Refurbishment needed:

  • Good solid structure; sturdy walls; wooden windows are outdated and could ideally be replaced with energy efficient UPVC windows; stairs and flooring adequate condition. The roof requires some attention as there is some moisture damage which is visible though this is limited to a few spots (as depicted on pictures below). 
  • The property is in need of refurbishment/modernisation. Internally, the layout of the three flats could be improved upon and some plumbing, electrics, joinery, tiling and internal plasterwork is required. The property is in need of new bathroom suites. Externally, exposed brick-work needs rendering especially at rear of the property for cosmetic purposes so that it fits in with surrounding houses (all of which are neatly kept). The front façade is in good condition, the garden needs a trim. Piping, guttering and rainwater pipes are in adequate condition but should be checked.
  • It is customary for German tenants to fit and fund their own kitchen. There are numerous workmen in the town who advertise their services on their houses. Building materials can be sourced from neighbouring Naumburg and Zeitz, as well as Grana which has many builder’s yards. These towns are easy to get to by car and are only 10-20 mins away.

Ground floor

Above from left to right: Ground floor front room facing road, ground floor flat, ceiling of room on ground floor, front room facing pavement

Above - left to right: Ground floor flat entrance and view, electric meter in ground floor hallway, ground floor toilet showing piping

  Above - left to right: Stairs leading up to first floor, ground floor hallway, ground floor storage cupboard, toilet attached to second flat on ground floor

Above - left to right: Ground floor second flat with brown door on left leading to toilet, electric plugs, view from ground floor flat, room.

Above - left to right: Room, view from the window into garden and neighbours' car park from ground floor

Above - left to right: View of rear and neighbouring flats, ground floor rooms

Above - left to right: Ground floor front door entrance from road, stairs leading up to first floor, sky light in hallway on first floor

First floor

Above - left to right: First floor front facing room, kitchen and piping, hallway of first floor flat

Above - left to right: Sitting rooms on first floor, view from front-facing window on first floor
Above - left to right: First three pictures show moisture damage visible on ground floor. Two pictures on right show limited moisture damage on first floor.

Above - left to right: View from front-facing window, ceiling showing plaster damage in first floor bathroom, piping and sink in first floor toilet
Above: View from upstairs windows, hallway and rooms in first floor flat

Neighbouring area and town:

Left to Right: Osterfeld sign-board, Steinweg/Markt showing Apothecary, Steinweg/Markt, florist on Markt, local shop on Markt
Above: Steinweg - two pictures on the right show the house from two different angles
Left: Roof of house from the front. Middle and Right: Rear of the house showing annexe
Left to Right: Front facade of house, flats opposite property, neighbouring entrance and driveway, view from Steinweg towards Markt showing close proximity

Aove: Diska supermarket - serving the town's needs

Above: Panoramic views above the town of Osterfeld as well as a selection of average of homes you will find in the town - all well-kept and high-value

Why invest in Germany?

By investing in Germany you are investing in the powerhouse of Europe.

Germany is the largest national economy in Europe and the world's third largest exporter (after China and the US) producing a fifth of the European Union’s output and a quarter of its exports. Despite the turbulence of the global economic recession, the German economy grew every year since the 2008 crash and is on a strong growth path for 2014.

Home to some of the world's leading companies like Audi, Volkswagen, Allianz, E-ON, Siemens, Adidas, Hugo Boss, Mercedes Benz, DHL, Keuhne & Nagel and Nivea to name a few – the German economy is one of the most robust and technologically advanced in the world. The country has traditionally been very strong in a few key areas including: machinery, chemicals, logistics and cars – but it also fast becoming a digital hub in the Euro zone and leading the way in investing in clean renewable energy. By 2050, approximately 80% of electricity is set to come from renewable sources compared to 20% now.

Demographics in Germany are changing. In 2012 alone, one million people moved to Germany with the majority of arrivals from within the European Union. The German unemployment rate is one of the lowest in Europe at just over 5% (July 2014). This fact alone is something most countries would envy and an indicator of the strong and steady pace of economic growth in Germany.

The German education system allows young people to learn practical skills through apprenticeships. Vocational training – together with the vitality of small and medium-sized enterprises (SMEs) called the “Mittelstand” – are a key plank of Germany’s economic success story. The country has grown steadily and, unlike Britain, managed to avoid a surge of lay-offs after the 2008 financial crisis. The country has the best participation rate of women in the labour force with 72% holding down a job. New legislative changes mean all German children will have the right to day-care places from the age of one meaning the labour market is set to improve and become even more competitive.

Germany is the most promising place to invest your money in Europe. Excellent growth, low unemployment and job stability mean that as a homeowner you can expect a stable and steady rental income and a profitable capital gain.

Why invest in Osterfeld?

Osterfeld is a charming and thriving town with a crisp blend of old and new-build homes. The town is at commuter distance from major cities of the states of Saxony-Anhalt (e.g. Leipzig is 30 minutes by car) and Thuringia (e.g. Jena and Gera are both 35 minutes away by car).

In terms of population, the town has 2,800 inhabitants giving it a pleasant and welcoming small town feel. The town is served by a large supermarket called ‘Diska’ which offers fresh food products including fresh meat, fruit and vegetables, dairy products and household items. The Osterfeld branch of Diska is sizeable and has a bakery as well as butchers that serve the town’s needs.

The town has many single family homes, some of which have swimming pools and are beautifully well-kept with affluence on display (BMWs and Mercedes are a common sight). On the hilltops, from a distance, you can see wind turbines which generate clean energy, and there are walking trails in the surrounding countryside for outdoor enthusiasts.

History: The area around Osterfeld has a long historical legacy. The region is famous for its medieval castles, palaces and churches. Romanesque and Gothic architecture is common in neighbouring Naumburg with much of it dating back to the 13th and 15th century. Famous landmarks of the town include the Cathedral of St Peter and Paul and the church of St Wenceslas. The town of Naumburg was a significant trading centre in the Middle Ages.

Above: Historical image of the Rathaus and Osterfeld castle in 1904

Left: Rote Gasse, 1896. Middle Left: Kirchberg, 1912. Middle Right: Steinweg, 1930. Right: Steinweg, 1925.

Above: Panoramic view of Osterfeld in 1910.
Education: The town has two kindergartens within walking distance. Secondary schooling is situated in neighbouring Naumburg to which regular school buses are available. In Naumburg there are 8 primary schools, 4 secondary schools and 2 schools serving children with special needs. The universities of Weimer, Jena, Schmalkalden, Nordhausen, Erfurt and more are in close proximity.

Healthcare: The town is served by three local hospitals. The Klinikum Burgenlandkreis situated in Naumburg has 440 beds and ten specialty areas offering patients comprehensive medical care (see here). The Georgius Agricola Hospital in Zeitz has nearly 300 beds while the Asklepious Klinik in Weissenfels also has 300 beds and specialises visceral surgery, orthopedic/trauma care, oncology, hematology, cardiology and neonatology. The local vet is a short walk away (their website can be found here). There are three general practitioners in Osterfeld (with one catering especially for private patients) and two local dentists. The town’s pharmacy is situated approx. 100m away from the property.

Economy: Local industries in the region include the manufacture of food, textiles, machinery and toys. The Burgenlandkreis region is home to mining and engineering, chemical, metal processing, logistics and wholesale and agricultural industries.

The region around Osterfeld is most famous for its numerous vineyards, where nature parks and outdoor activities attract tourists from far and wide. The wine-growing area Saale Unstrut (and the towns of Zeitz, Naumburg, Weissenfels, Freyburg) are all located along the rivers Saale and Unstrut. Despite this reputation for excellent wine-growing, only two percent of the entire workforce in the Burgenlandkreis district is employed in the agriculture and fisheries sector. The vast majority of people are employed by the commercial sector, followed by transport and hospitality.

Some of the largest food processing and poultry houses are situated in this region. The food and beverages industry as a whole is a thriving economy in Saxony Anhalt. Over 20,000 people are employed by 100+ different plants littered around the region, generating sales of over six billion Euros. The agricultural land around Osterfeld is used to cultivate grains (like wheat and barley) and sugar beet as well as breeding and raising livestock.

According to official statistics for Saxony-Anhalt, the rate of unemployment in Naumburg has fallen significantly from 18% in 2006 to approx. 11% in 2014.

Recreation/Activities: The town of Osterfeld is surrounded by a dense network of cycle paths for biking enthusiasts who like the countryside. Marked trail invite you to excursions in the great outdoors. There are regional tour operators offering numerous activities on the Saale and Unstrut - along the 60 km long wine road, visitors can explore natural history or take in the culinary delights by bike, boat, foot or bus. Canoe/boat rentals on the Saale and Unstrut are a great and affordable way to explore the area (see here for more).

The town has a local football team (see here) and numerous clubs/associations, including the local bowling club which won the national championships in 1996. A local band (see here) regularly hold festivals and carnivals around Osterfeld castle, sometimes marching through the town, with locals joining in the festivities. See here for pictures of local football matches. There are numerous other clubs and associations in neighbouring Naumburg: everything from the choir and musical groups to theatre, youth clubs, arts and crafts and sports clubs. A full list can be found here.

There is an open-door nature bath situated a short walk away from the property – which is next to a football pitch, playground for children, volleyball court and trails allowing you to bike around the periphery of the town. The nature bath is open in the summer seasons at very affordable prices (a one-off family card for four people costs €6 while an annual adult membership card is for €40 and for children €25. Individual trips cost between €1.50 to €2.50). The local castle, situated next to the school, is located on a site of a 6th century castle. It was expanded in the 11th and 12th centuries, and efforts were made to preserve its original features. Immediately behind the castle is a small cemetery from where there are beautiful views into the countryside around.

Above: Outdoor nature bath in summer months - this is just a few minutes walk away from the house

Above: School festival, community activities, school buses, school, primary school, castle, Osterfeld's churches and cemetery.

JUST 15 Minutes away by car is Naumburg - a city with a population of 30,000+ people - to which there is a bus running from Osterfeld. There's lots to do - an annual wine festival, cherry festival, pigeon market, flower market, children's day celebrations, concerts.. there's something for everyone.

Above: Cherry Festival in Naumburg which takes place every June. More pictures can be seen here.
Above: Christmas market in Naumburg

Above: Flower Market in Naumburg

Above: Children's day celebrations

Above: Naumburg's markets (including annual pottery market, pigeon market)

Transport: Osterfeld lies on the A9 high-speed federal motorway (or ‘autobahn’) which runs between Berlin (in the north) and Munich (in the south). German autobahns are famous for being some of the few public roads in the world without blanket speed limits for cars and motorbikes. So you can expect to cut down on journey time to major cities, like Leipzig which is only 30 minutes away by car.

Above: Map of Osterfeld showing proximity to Leipzig, Gera, Jena, Naumburg, Halle and other major cities [courtesy: Google Maps]

By car, Osterfeld is in close proximity to the following towns:

15 minutes to Naumburg (population of 34,000; local industries include the manufacture of foodstuffs, textiles, machinery and toys).
15 minutes to Weißenfels (largest town of the Burgenlandkreis district with a population of 41,000).
15 minutes to Eisenberg (Population: 11,000).
20 minutes to Zeitz (Population: 31,000. Manufactures include machinery, chocolate, sugar, and textiles).
20 minutes to Freyburg (famous for its vineyards. Home to the headquarters of one of the world's largest wine companies).
30 minutes to Merseburg (population: 35,000).
Leipzig City - Mädler-Passage  
30 minutes to Leipzig (centre of trade and commerce for time immemorial. Population: 530,000).

30 minutes to Jena (University City with a population of 105,000).
35 minutes to Leipzig/Halle Airport (served by Germanwings, Ryanair and Lufthansa)
40 minutes to Halle (an industrial center and major transportation hub with a population of 230,000).
40 minutes to Gera (the third largest city in Thuringia, after Erfurt and Jena, with a population of nearly 100,000).
50 minutes to Altenburg (home to 34,000 people and the Leipzig-Altenburg airport).
1 hour to Weimar (famous for its cultural heritage, home to 65,000 people)..
1 hour to Erfurt (the capital of the state of Thuringia, home to over 200,000 people and industry which include metalworking and the manufacture of electric goods, shoes, clothing. The city is also a major exporter of processed food and seeds).

VALUE FOR MONEY - Excellent Rental Opportunity & Post-Refurb Capital Gain

Sales of homes in this area are not too common given that it is a peaceful and pleasant little town.
The following two properties will however give you an idea of the potential for post-refurbishment capital gain:

  • Click here to see a single family home on sale in Osterfeld for 200,000 EUR (+ 6% agent fees). Total internal area 180sqm.
  • Click here to see a single family home just outside Osterfeld for 165,000 EUR (+ 6% agent fees). Total internal area: 285sqm.
  • Click here to see a single family home in Stoessen (just 3 miles up the road from Osterfeld). Total internal area: 125 sqm. For sale at 170,000 EUR. 

Properties on this road (Steinweg) have been rented at between 5 to 6 Euros per metre square which is exceptionally high in the region and reflects the robustness of the rental market. At these prices you can expect an annual rental income between 11,500 EUR and 13,800 EUR.

5 (euros p/m²) x 192 (total internal area in m²) x 12 (months of the year) = 11,500

6 (euros p/m²) x 192 (total internal area in m²) x 12 (months of the year) = 13,800

Once refurbished, the buyer of this property can expect a steady income that is extremely rare to come by. None of the houses surrounding this property are empty, derelict or under-developed. The central location of the property makes it a sought-after location. But that’s not all…

The division of this property in to three residential flats makes it very well suited to the demographics of the town. Thirty percent (30%) of Osterfeld’s population consists of families, while 40% of the population are singles or double-income households with no children. Only 9% of the town's properties are flats while the rest are single family homes. The demographics indicate the conditions for a good rental market for flat accommodation.

The average per metre square price in rural areas is usually between 3 and 4 EUR but in this town it is between 5 and 6 EUR. A flat next door to this property (totalling just over one hundred square metres) has previously been advertised for rental at between 5.5 to 6 Euros per sq metre.

Look no further!

This charming little house is a superb buy with a good rental income potential and resale value. The town of Osterfeld is located at commuter distance from all the major urban hubs of the Saxony-Anhalt and Thuringia region, including the cities of Jena, Gera and Leipzig, an up-and-coming bustling city with urban regeneration and appeal.

The property is eligible for a minimum of 30% refurbishment grant. For this kind of price in this kind of location, this property is an excellent deal. If you are looking to invest your money for good profit margins and a return – look no further!


  1. Please contact me before you bid to confirm your interest in this property. This will help avoid uncommitted bidders interfering with the auction.
  2. A non-refundable seller's fee amounting to £300 is to be transferred to myself (seller) within 48 hours of the auction ending.
  3. A separate £500 deposit is to be transferred to myself (seller) within 48 hours of the auction ending. This deposit is non-refundable in the event that the buyer fails to complete the purchase, and will be deducted from the final purchase price at the auction ending.
  4. The rest of the purchase price is to be paid via the conventional buying process which will be overseen by a certified and accredited German Notary Public who will be asked to draw up a legally binding contract. 
  5. Failure to pay within the above time limits will entitle me to offer its sale to the next highest bidder or re-advertise.
  6. The Reserve Price for this property is set at £9,500 (GBP).
  7. Transparency and security of payment is ensured through the use of a credible and independent court-sworn German Notary Public. Should the buyer have a preference for a particular notary, please inform myself (seller) of this.
  8. It is not possible to arrange internal viewings. The property can however be viewed externally at any time.

Useful Links

I am a trusted seller and have previously sold properties on Ebay. 

This is a private listing so you can ** confidently and confidentially ** submit your bid.

You will be fully guided through the buying process.

Please do not hesitate to ask questions or request pictures.

If I am unable to take your call, please leave a voicemail or SMS. Or simply send me an eBay message and I will get back to you on the same day.

Contact Jaan: 0044(0) 7960 554063

** COPYRIGHT AND DISCLAIMER STATEMENT – WARNING TO COPYRIGHT THIEVES. Any unauthorised copying or use of the writing of this advert is strictly prohibited. The material in this advert (including the text, descriptions and structure of writing) are copyrighted. These materials are covered under ‘Intellectual Property Rights’ and according to Ebay’s guidelines (see here) it is possible for the owner of Intellectual Property rights to sue plagiarists for copyright infringement. Where external content is used here, attribution is respected and assumed via hyper-linking. The protection of copyright is a serious matter and should this notice be contravened, the owner of intellectual property - in this case, the seller of this property - reserves the right to seek punitive action against any infringement (that is the replication, adaptation, publication, distribution, broadcast of any material contained in this advert without express permission and written consent).

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