An Italian Village Is Selling Homes For Just €1
If lockdown has you feeling like you could pack your bags and relocate the second this is all over, then you might be in luck.
An Italian village is currently flogging its properties for for €1 (90p).
Yes, for less than a pint of milk you could be homeowner in the quaint village of Cinquefrondi in the southern region of Calabria, where the local government are trying to reverse depopulation trend caused by young people upping and leaving for work.
The scheme - which has been given the James Bond-esque moniker, Operation Beauty - will see 12 houses (some even with balconies!) go on sale for the nominal price in the town's 'historic' quarter.
Cinquefrondi is surrounded by Aspromonte National Park and overlooks the Ionian and Tyrrhenian coastlines. What's more, the town prides itself for being coronavirus-free, having had no reported cases.
However, while the town is set in a stunning location and is virus-free, many of its lodgings are rundown and abandoned.
This is where the trade-off comes. In exchange for the 90p property, the new owner is expected to completely renovate it within three years.
Due to the small size (roughly 40-50 square meters), the mayor estimates the job to cost between €10,000 and €20,000.
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Unlike other €1 schemes, the owner isn't required to give a deposit, but they may be liable to a €20,000 (£18,000) fine if the work isn't completed. Also, you'll have to pay €250 (£224) insurance policy each year until the house is completed.
Cinquefrondi mayor Michele Conia, said: "Finding new owners for the many abandoned houses we have is a key part of the Operation Beauty [mission] that I have launched to recover degraded, lost parts of town."
Speaking about her beautiful town, she added: "We rise between the refreshing hills and two warm seas, a pristine river runs nearby and the beaches are just 15 minutes away by car. But a whole district of my town lies abandoned, with empty houses that are also unstable and risky. [...]
"We're just asking for some kind of certainty once a new buyer commits to the project. The policy fee is very low and the cost of a restyle here is within €10,000 to €20,000, given the dwellings are cozy [and] tiny."
If you're interested in being part of the project and bagging yourself a 90p house, then you need to email [email protected] to register your interest.
You can also visit the Municipality of Cinquefrondi's website for more information.
Featured Image Credit: Guiseppe Tripodi/Municipality of Cinquefrondi