There is no doubting Hong Kong’s reputation as the world’s most expensive city to own a house in. But halfway across the world in the town of Mussomeli, in central Sicily, residents are selling abandoned houses for €1 each.
According to a Demographia International Housing Affordability Study from January, a family would on average need to save up for 21 years without spending a single dollar to afford a home in Hong Kong. There are other riders too. Reports say that anyone buying these abandoned homes has to renovate it within three years or lose their deposit of some US$8,000.
Source: Real Estate Daily Report (realestatedailyreport.net)
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