Dreaming of becoming a homeowner but drowning in student loans? Looks like it’s time to book a plane ticket to Ollolai, Italy.
To compensate for the depopulation of their small village, Ollolai in Italy has decided to sell heaps of houses for less than a quid. However, the small purchase cost hides a rather large investment cost. The 200 houses up for sale in the small village have long been abandoned and require some TLC.
Expect to spend at least £26,000 in renovations per house to get it back in good shape. No worries however, the government is willing to provide grants that could cover up to 60% of the cost.
‘We boast prehistoric origins. My crusade is to rescue our unique traditions from falling into oblivion. Pride in our past is our strength. We've always been tough people and won't allow our town to die’, explains Ollolai mayor Efisio Arbau to CNN.
Of the people who have been buying in this region of Italy, a lot of them have actually started their own business in the town. Starting B&B's hoping to drive tourism back into this once-forgotten place.
If you’re interested in taking on the project, send him an email. Fair warning: he’s already received hundreds, so make sure you write the application of your life.