It’s no secret that the buying into the housing market in Manchester is getting more and more expensive and our mortgages are getting larger and larger.
Well, what if I told you that you could buy your own little Italian home for less than a £1.
The Sicilian town of Sambuca (like the shot) has reduced the price of homes in the area to just €1…or 80p to be exact.
The beautiful hilltop mediterranean town, with sweeping views over the nearby beaches, has reduced house prices in an effort to repopulate the rural town.
Giuseppe Cacioppo, Sambuca’s deputy mayor and tourist councillor told CNN: “As opposed to other towns that have merely done this for propaganda, this city hall owns all €1 houses on sale.
“We’re not intermediaries who liaise between old and new owners. You want that house, you’ll get it no time.”
There is a slight catch, however.
As most of the homes are abandoned and run down, if you chose to purchase a dwelling, you must commit to refurbishing it over three years, with the costs starting at around €15,000 (£13,000).
Now, while that definitely ups the price of this little slice of Italy, it is still much cheaper than anywhere in the UK.
Buyers won’t be disappointed. The little patch of land is described as an “Earthly Paradise”. The town which is steeped in history, is surrounded by beaches, woods and mountains. It would be the perfect escape from the rat race of the city.
If you’re interested in investing in your little slice of Italian heaven, then you need to act fast. According to Cacippo already 10 have been sold.