(WHDH) — Stunning views, sun-soaked beaches, delicious food and luxury wine are just a few things that make Italy one of the top tourist destinations in the world. Have you ever dreamed of living there? Now you can for as little as $1.25 (€1).
It’s undoubtedly an unbelievable deal, but there is a catch.
The town of Ollolai, which sits on an island off Italy’s southwest coast, has seen its population decline by 50 percent over the last 30 years, according to The Local it.
Other than the bargain price, buyers should know that the historic stone houses that blanket the town need some serious work. They’ve fallen into disrepair over the years due to neglect.
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Mayor Efisio Arbau launched the ‘houses for €1’ initiative with the hopes of attracting buyers to revitalize the town. Each home would require an estimated $25-35,000 (€20-30,000) in repairs.
Several mayors of other towns have tried the scheme and found success, according to the website.
Anyone interested in purchasing a home must do so before the Feb. 7 deadline. Those who do buy a home can sell it five years after the sale.
Watch the video below for a closer look:
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