Italy Is Selling Homes For $1 and I'm Packing Bags

I won’t lie, if this last 19 months has shown me anything, it’s that, I really feel the need to get out of the U.S. and go spend my life somewhere more peaceful.

If you feel the same, you may just have that opportunity for a lot less than you’d think…

Italy Is Selling Homes For $1 and I’m Packing Bags…Seriously, $1.

In case you haven’t heard, many countries in Europe have had declining numbers of population especially in some smaller towns.

For that reason, these cities have decided to sell off old homes for $1.00 to entice people to come live, rebuild and strengthen the community in those areas.

The most recent of those areas is the Italian region of Abruzzo which has finally joined the €1-house club (about $1.16 in US money) with the launch of a new scheme in the picturesque town of Pratola Peligna.

Pratola Peligna is located in the Apennine Mountains, close to some of Italy’s best skiing pistes and is a secluded spot with a medieval district full of abandoned properties.

Local authorities have been trying to contact owners of abandoned properties prior to the sell off.

“We’ve been working on it for years, identifying suitable houses for the scheme that weren’t already involved in post-quake reconstruction,” he told CNN Travel. “Out of roughly 630 empty buildings, up to 250 could be sold for €1.

The homes are already being listed on the town website.

So, what’s the catch?

Well, Pratola Peligna will not require buyers to pay a deposit of up to €5,000 to guarantee they’ll renovate their new home. Instead, they’ll face a €10,000 fine if they fail to register a detailed plan of building works within six months.