Deadline looming for chance to buy a home in Sardinia for less than $2
An idyllic Italian town may be saved from extinction by a bold plan from the town mayor to sell off houses for €1 ($1.57).
Ollolai, a small town on the Italian island Sardinia, is hoping to boost its population by attracting home buyers locked out of other markets and wanting to escape the rat race.
So what’s the catch?
New owners would have to commit to renovating the homes within three years and spend a minimum of about $32,000.
However not everyone who puts their hand up will be guaranteed a home – potential residents will have to apply to live there and have their applications reviewed by the council.
There are 200 homes being offered, some of them about 200 years old, and many have deteriorated after decades of being uninhabited.
Ollolai’s population has shrunk from 2250 to 1300 in the past 50 years, with few babies born each year.
“We boast prehistoric origins,” Efisio Arbau, Ollolai’s mayor, told CNN. “My crusade is to rescue our unique traditions from falling into oblivion.
“Pride in our past is our strength. We’ve always been tough people and won’t allow our town to die.
“They are picturesque old buildings made with Sardinia’s typical grey granite rock that grows on mountain peaks and shores.”
The mayor’s campaign has already generated significant international interest, prompting him to put a deadline on the offer.
Arbau recently issued a second statement saying: “The Municipality of Ollolai announces that, with effect from 2pm on 7 February 2018, it will no longer be possible to submit applications for participation in the ‘Case a 1 Euro’ scheme, as the number of requests submitted has potentially exhausted the number of available properties.”
After the cut-off date, the council will begin evaluating applications in the order they were received.
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