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Own a house in Italy for less than Dh5

Web Report
Filed on January 31, 2018 | Last updated on January 31, 2018 at 02.31 pm
Three houses have already been sold off.- Alamy
Three houses have already been sold off.- Alamy

Dream houses that don't empty your bank balance!


Owning a house is a dream for many. After all, there's a sense of pride in the feeling that you're no longer renting a place to stay but actually own it. More often than not, houses cost a fortune. However, if you plan to live in a quaint Italian village, you can own a house for just 1 Euro - that's only Dh4.5!

According to CNN Travel, these houses on sale are located in the town of Ollolai, a mountainous region in the island of Sardinia. Hundreds of abandoned houses are up for grabs and that's where the catch comes.

Purchasing the property does cost only 1 Euro, but potential residents must commit to fixing up the decrepit houses within three years - which could cost about $25,000 (Dh91,825). Three houses have already been sold off and the town's mayor, Efisio Arbau, has received hundreds of offers from around the world for more purchases. Arbau said that purchase requests come from as far as Russia and Australia.

Behind the property bonanza is a plan to revive the town community which is at risk of being reduced to ghost. Ollolai's population has declined to 1,300 from 2,250 during the past half century.

 





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