Always dreamed of owning a home in Italy? Well now that dream can be a reality—for less than the price of a cup of coffee.
Ollolai, on the island of Sardinia, just off the southwest coast of Italy, is a beautiful, scenic little town.
In a contrast to the country’s bigger, more modernized cities, Ollolai remains a mostly untouched, authentic slice of the past, with its stone buildings and winding streets.
Yet it’s also a town struggling to maintain its own existence.
Over the past 30 years, the population has drastically declined to only about 1,300. And with most of that population middle-aged, the town’s birth rate is very low.
There is now real concern that Ollolai will soon become a ghost town—but officials are on a mission to preserve the town.
The only solution would be to draw more people to live there—but how do you convince them to come live in your small, antiquated town?
The answer: make the homes shockingly cheap.
Homes in Ollolai are now being sold for a dollar.
€1, to be exact, or roughly $1.25. That’s right: with just the change in your pocket, you’re on your way to owning a home in Italy.
Okay, so what’s the catch? Well, at the end of the day, it’ll cost you a bit more than a dollar.
While there are hundreds of homes available in the town for dirt cheap, they’re abandoned, worn-down homes—old, stone buildings in desperate need of repairs. And, as part of the dollar discount, you agree to fund the repairs over the next three years, something that will set you back about $25,000.
So in total, the home will cost $25,001.25. Still not a bad deal.
And it’s a win-win for the town: not only does it revitalize the population, it also revitalizes its historic homes.
That’s an important factor for the mayor, who still sees the beauty in these buildings, and hopes newcomers to the town agree:
“We need to bring our grandmas’ homes back from the grave.”
Maybe the deal is sounding a bit less enticing—but for others, it’s the perfect opportunity.
Vito Casula, a retired builder, jumped on the $1.25 deal when he saw an ad in the newspaper. It was a chance to own a home in a town he frequently visited.
“It offers a peaceful, healthy life.”
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Interested? Well, you better act fast. According to The Local, the deadline for applications is February 7, but the mayor has suggested that the demand has “potentially exhausted the houses currently available.”
So maybe you won’t end up with a coffee-priced Italian home this time. But the plan seems to be successful so far, which could inspire similar community revitalization programs in the future.