Italian village selling properties for 1 Euro

A village in Italy is selling properties for just 1 Euro in a bid to encourage new residents to go and live there.

Over the last 50 years, Ollolai on the island of Sardinia has recorded severe population decline, with the number of residents dwindling from 2,250 people to 1,300 during this period.

To combat this decline, the village’s authorities have placed 200 abandoned homes for sale for just 1 Euro.

However, before you all start rooting down the back of your sofa looking for some change from your last European holiday, it will probably come as no surprise to learn that there is a catch. Any buyers must commit to refurbishing the property – which are all in fairly poor condition –  within three years. It is estimated the cost of this refurbishment will total around 22,000 Euros.

“We boast prehistoric origins,” says Efisio Arbau, Ollolai’s mayor. “My crusade is to rescue our unique traditions from falling into oblivion. Pride in our past is our strength. We’ve always been tough people and won’t allow our town to die.”

If this offer is of interest to you then you’ll need to be quick.

The village’s website, which first published the offer, has been so inundated with inquiries from all around the world, that a deadline of 7th February for applications if interest in the properties has now been set.

Ollolai is located in the middle of Sardinia, an Italian island in the Mediterranean. The village sits near protected forest land and is situated just an hour away from the cliffs of Cala Gonone.

Article published 4th February 2018