A house in Italy for less than $2? Well yes, but there are a few caveats

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One of the eight houses on offer.

Municipality of Sant’Elia a Pianisi

One of the eight houses on offer.

A tiny town in the centre of Italy is the latest to try and entice some fresh blood to move in, with houses on offer that cost about the same as a red capsicum in the supermarket.

The commune of Sant’Elia a Pianisi in the Molise region is offered eight doer-uppers for the princely sum of €1, or around $1.70.

A perfect place to get away from the rat race, this scenic part of Italy is awash with history and a laid back lifestyle. Positioned more than 660 metres above sea level, the village is 37km from Campobasso, the capital of the region. Surrounded by forests, this area’s lifeblood is the production of olive oil.

Like many other towns and hamlets in Italy, the population in Sant’Elia a Pianisi has dwindled over the years. In 2014 there were just over 2000 living there, now its 1680.

So authorities are keen to find some new people to invest. But of course, there are some caveats.

Firstly there will be a minimum deposit of €5000, or just over $8600, to guarantee that work will be carried out on the house. Then a building and restoration plan must be in place in the first six months, with all the works completed within three years. Also any bidders who pledge to use local builders and firms will move to the top of the queue.

The eight houses can be seen on the website of the Municipality of Sant’Elia a Pianisi and in some cases they certainly need more than just a lick of paint.

The scheme is the latest in a long line of attempts to reinvigorate quiet Italian hamlets.

Last year, beautiful Presicce in Puglia offered €30,000, or $51,000, to do up an abandoned property. The successful bidders then needed to buy one of the houses that are part of the deal, and these cost from €25,000 each.

To qualify for the scheme, buyers had to agree to move to the town permanently to renovate the property.

In 2019, Bivona, deep in the heart of Sicily, began selling homes for €1, as did nearby Mussomeli.

The same year Cammarata, known as the village with a thousand balconies, gave dilapidated homes away free under the proviso restoration would start within three years.

Buyers at all three sites would also need to pay about €5000 as a deposit, which was, in most cases refundable once work began.

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