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Crumbling villas haunt E. German towns 25 years after Wall

Castles and other historic estates in eastern Germany that survived two world wars and communism may be done in by capitalism as struggling rural communities search for a wealthy buyer to rescue the grandeur of their past wealth before it crumbles away. Shown, Mutzschen castle, in Mutzschen. Foto: Bloomberg

BERLIN - For sale: 18th-century castle with a medieval prison tower, moat and lake on 14 acres. The price: 350,000 euros ($445,000), less than the cost of a Manhattan studio. The catch? It's in eastern Germany.

It's not just the location that's a deterrent. The dilapidated property with peeling paint and socialist-era chandeliers will cost as much as 6 million euros to renovate, estimates Carsten Graf, mayor of Mutzschen, the town sandwiched between Dresden and Leipzig where the property is located...

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