Living life in Europe is a dream for many. You can fulfill your dream by living in a remote village in Italy by purchasing a house that costs less than Rs. 200. Surprised? Don’t be, because it isn’t a scam and you can buy a home in Cinquefrondi, Italy for €1 that equals Rs. 186.
If you’re thinking Italy’s COVID-19 situation is really bad, don’t worry. Not only is the town coronavirus-free but, it is a scenic place that is only a few minutes’ drive from the beach. The project named ‘Cinquefrondi Builds Beauty’ offers 1 Euro houses in a bid to attract more residents to the area and reverse the trend of depopulation.
ALSO READ
Pakistan Among Best Tourism Destinations in 2020: The Independent
The reason behind the incredibly low pricing is that it is a ghost town with only a few locals left in the town. The empty houses are on sale for €1 for a number of reasons, which include:
- It’s a ghost town.
- There is an annual insurance policy of €250 to guarantee the renovation of homes. Owners will be fined €20,000 if the renovation isn’t completed in 3 years.
- Restyling costs around €10,000 to €20,000.
Cinquefrondi Mayor, Michele Conia, has described the beauty of the town and the reason behind the scheme as follows:
Finding new owners for the many abandoned houses is a basic goal of the “Cinquefrondi Builds Beauty” project that I launched to recover degraded areas of the city. Despite being surrounded by the natural beauty of Aspromonte National Park and overlooking the Ionian and Tyrrhenian coasts, the urban scenery of Cinquefrondi is marked by houses in bed conditions. We rise among the refreshing hills and two warm seas, a pristine river flows nearby and the beaches are only a 15-minute drive away. But an entire neighborhood in my city is abandoned, with empty houses that are also unstable and risky.
Currently, there are 12 houses for sale and you can buy one of those if you accept the terms and conditions. There is, however, a catch and that is tourists are not eligible to buy a house in Italy. You have to be legally able to purchase property in the country if you want to settle in this eerie yet beautiful little town.
What are your thoughts on the story? Let us know in the comments.
Investing on a Ghost City
One of the effects of an ageing society. Italy has one of the lowest birth rates in the world. And the situation is getting more worse.
here is, however, a catch and that is tourists are not eligible to buy a house in Italy.
How to buy these houses