Some of the world’s most gorgeous places have property listings for as little as $1.60 .Many small towns in Europe – mostly in Italy – have schemes to attract buyers in a bid to reverse depopulation and restore old homes, rather than condemn them to bulldozers. Listing websites enable foreigners to browse the options for sale.
Properties are promoted like any campaign in Australia, with photos and a precis of the location and features.“Buy your dream for €1 in the fabulous town of the Sicilian hinterland, just a few kilometres from the enchanting beaches and the historic temples of Agrigento,” says the Case 1 Euro website.
The contract outlines the time limit for the restoration , and includes a €5,000 surety to the council, valid for three years, which they will keep if the buyer fails to fulfil their obligation and leaves the property in ruins.
Source: Real Estate Daily Report (realestatedailyreport.net)
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