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Foreclosure auction in Heiligendamm: worth millions in danger!
Compulsory auction of properties in Heiligendamm in January 2026: High market value and concerns about development.
Foreclosure auction in Heiligendamm: worth millions in danger!
In Heiligendamm, two “simple accommodation buildings” and several properties are up for compulsory auction. According to the Baltic Sea newspaper, the auction will take place at the Rostock District Court at the end of January, with an estimated total market value of almost five million euros. This could have a lasting impact on the landscape of the “White City”, a concern that Mayor Jochen Arenz also expresses. He is concerned about the development of the region and criticizes the sale to a single investor.
The compulsory auction is initiated by the cooperative bank VR Bank RheinAhrEifel, which is currently facing rumors of financial difficulties. The bank is planning to take over another struggling cooperative bank, but is still well valued.
Property values and bidding processes
The land and buildings in Heiligendamm belong to the development company Heiligendamm (ECH), which is part of the Jagdfeld Group. Anno August Jagdfeld, who acquired large parts of Heiligendamm in 1996 for less than 20 million German marks, could lose further land as a result of this compulsory auction. In total there are three undeveloped plots of land and two two-story accommodation buildings covering around 6,000 square meters. Some of the buildings date from the 19th and 20th centuries and, due to the special location in Heiligendamm, have a land value of 1,800 euros per square meter, which puts the total value at up to 10.7 million euros.
Interested parties can submit their bids at the auction, but it is recommended that they obtain a financing commitment in advance, as additional costs such as court costs and real estate transfer tax may arise in addition to the hammer price. These additional costs usually amount to around 8 to 12% of the hammer price, which should be taken into account when bidding, according to the experts at ZVG Scout emphasize.
Another chapter: The Alexandrine Cottage
The property itself is three times the size of the building and was formerly privately owned by the ducal family. Mayor Arenz has expressed a desire for the cottage to be opened to the public. However, a fence around the property makes access to the coast more difficult, which further increases the value of the property.
All in all, the current situation in Heiligendamm shows how complex the development of this unique coastal town is. While foreclosures and real estate sales represent attractive opportunities for investors, they also raise big questions about the region's future. The coming months will be crucial in determining the direction in which Heiligendamm will develop.