The small town of Saint-Amand-Montrond in France is offering aspiring homeowners a chance to purchase a house for just 1 euro, or Rs. 299. However, there’s a catch.
The 828-square-foot property, located in the city center, boasts two bedrooms, one and a half bathrooms, a courtyard, and a garage. Despite its potential, the house has been vacant for 12 years and requires significant renovation, estimated at approximately Rs. 37,916,583.
Interested buyers must be prepared to relocate to Saint-Amand-Montrond and demonstrate a genuine commitment to the town’s community. Francis Blondieau, the deputy in charge of Urban Planning, emphasized the importance of selecting a serious candidate with a long-term plan to settle in the area.
Applications, which opened on April 1, will be accepted until June 15. Prospective buyers must submit detailed renovation plans and financing information, along with a cover letter outlining their vision for the property. Prospective buyers must demonstrate not only their financial capacity to undertake extensive renovations but also their commitment to residing in the property for a minimum of 10 years. The town’s stringent criteria reflect its earnest desire to cultivate lasting relationships and ensure the sustained growth of its neighborhoods.
While the selected buyer will receive financial assistance for renovations, they must adhere to strict criteria, including employing local craftsmen for the work. Property visits will commence on May 15, with the goal of selecting the new homeowner by September and finalizing deeds in January 2025.
This is the second time Saint-Amand-Montrond has offered a house for 1 euro, following a successful program in 2021 that attracted over 90 applicants.
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