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It is a dream come true if you want to get on the property ladder - a home for one euro. Sambuca in Sicily, Italy is a picturesque town that is selling houses for just €1 to attract people. This is because of a decline in its population. Like many towns in Italy, the number of residents is falling because young people are moving to cities. Sambuca's mayor believes the houses will be easy to sell because his town is so attractive. It overlooks the Mediterranean Sea and is close to gorgeous beaches. It has retained its heritage with its cobbled streets and Arabesque architecture.
There is a small catch to this one-euro bargain - the buyer must spend $17,000 on renovating the property within three years of buying it. The deputy mayor said the town owns the houses, so there would be little red tape when buying a property. He said the town does not liaise between old and new owners, and that, "you'll get [a house] in no time". He promised potential buyers would love the town. He said: "We're located inside a natural reserve, packed with history. Gorgeous beaches, woods and mountains surround us. It's silent and peaceful - an idyllic retreat for a detox stay."
Back to the homes for sale lesson.