Abandoned houses in the “historic quarter” of the village will go on sale for just €1 (90p) — but there is a catch to the deal.
The incredible bargain is being offered by authorities in Cinquefrondi, a village in the southern region of Calabria, as part of a bid to rejuvenate the area.
The picturesque village of Cinquefrondi in the southern Italian region of Calabria is flogging abandoned houses in its “historic quarter” for just €1 (90p) only a 15-minute drive from the beach
Those who buy one of the budget houses will be expected to renovate their properties within three years.
A stunning village in Italy which also claims to be “coronavirus-free” is selling houses for less than £1.
Speaking to CNN, Cinquefrondi’s Mayor Michele Conia said it was vital for the village’s future that it attracted new people to move to the area.
The scheme by the local council is called “Operation Beauty”, and is a bid to fix up some of its run-down properties.
“I grew up in Germany where my parents had migrated, then I came back to save my land.
“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,” he said.
Although the centuries-old village is situated in beautiful countryside and just a 15-minute drive from the beach, Conia says the many empty houses are a blight on the landscape and desperately need work.
“Too many people have fled from here over the decades, leaving behind empty houses. We can’t succumb to resignation.”
“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,” he said.
“But a while district of my town lies abandoned, with empty houses that are also unstable and risky.”
If the owner fails to meet their commitment to complete the renovation within three years, they will be liable for a €20,000 (£18,000) fine to the village.
Anyone who buys one of the houses in Cinquefrondi will have to agree to pay an annual insurance fee of €250 (£244) until work on the property is complete.
The mayor added: “We’re just asking for some kind of certainty once a new buyer commits to the project.”