Composed of OAPs and buildings that have been rotting since the fall of the Berlin Wall nearly three decades ago, Alwine in the state of Brandenburg is expected to be sold for as little as 150,000 pounds.
Paul Urbanek, one of 20 people in the village 80 miles from Berlin, said: “We have been chucked into cold water!”
Until reunification in 1990 all the homes in Alwine were the property of a coal plant.
In 2000 it was sold for one mark – about 33 pence – to a pair of investor brothers.
There were hopes of turning its decline around, but all the young people left to seek better opportunities in the west.
Hildegard Schroeteler-von Brandt, a professor of architecture and urban studies at Siegen University, said: “After reunification, many people moved away for jobs.
“These jobs have not been replaced everywhere in East Germany.”
Neighbouring municipalities have expressed no interest in taking Alwine on and that it is unclear what will become of locals once their homes pass into the hands of new landlords.