Another town in Italy is selling €1 houses – but you have to be quick
A TOWN in Italy is selling houses for only €1 (88p), for anyone looking for a move to the Mediterranean country.
Sant’Elia a Pianisi has become the latest Italian town to offer homes to people for an incredibly cheap price.
Houses can be snapped up for as little as 88p, but they all require substantial renovations.
There are only eight homes available, so anyone interested will have to get in there quick, as the town's mayor says he receives calls from people about the properties every day.
Anyone who buys one of the homes is required to put down a minimum €5,000 (£4,400) deposit to fix up the properties.
They will also have to present their renovation project to local authorities within six months of buying, before completing the planned renovations within the following three years.
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The mayor Biagio Faiella hopes that the renovations will increase the costs of the run-down properties and provide a boost to the local economy.
Therefore, applicants who plan to use local companies for their renovations will be favoured ahead of those who plan to use other companies from elsewhere.
Foreigners are more than welcome to apply, with Canadians and Americans among those who have already registered interest.
Mr Faiella claims that because of the town's dwindling population, he is not fussy about who comes to buy the properties.
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He said: "Everyone is leaving the area: in small towns, unfortunately, this is the case.
"In 2014 there were 2,004 people in Sant'Elia, today there are 1,680.
"Those who buy houses for one euro come to revive ruins... I would say that these people are very welcome."
Sant’Elia a Pianisi isn't the only town to offer cheap homes in Italy.
The town of Laurenzana, located a few hours south of Naples, is also offering the abandoned homes to help repopulate the area.
Previous schemes, like the one at Sant’Elia, have required similarly large deposits as high as €5,000 to allow work to go ahead.
Meanwhile, here is everything you need to know about buying and renovating a €1 house in Italy.
And this is what it's really like to buy and own one of the cheap homes.
