It sounds like dream come true for anyone looking to get on property ladder - home for one euro (about $1.14). A picturesque town on island of Sicily, Italy is selling houses for just €1. bargain price is to attract people to move to hilltop town of Sambuca because of rapid decline in its population. Like many rural towns in Italy, number of Sambuca's residents is dwindling because many young people are moving to cities. The Sambuca mayor believes houses will be easy to sell because his town is so attractive. It overlooks Mediterranean Sea, is close to gorgeous beaches and has retained its heritage with its cobbled streets and Arabesque architecture.
Like all bargains, there is small catch to one-euro houses - buyer must promise to spend $17,000 on renovating property within three years of purchasing it. Sambuca's deputy mayor said houses are owned by the town, so there is little of the red tape normally associated with buying property. He said: "We're not intermediaries who liaise between old and new owners. You want that house, you'll get it in no time." He promised potential buyers would love town. He said: "This fertile patch of land is dubbed "Earthly Paradise". We're located inside natural reserve, packed with history. Gorgeous beaches, woods and mountains surround us. It's silent and peaceful - idyllic retreat for detox stay."