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The town was once the thriving capital of the region of Barbagia, but it has recently struggled to keep its culture alive. In half a century, the town’s population has decreased by nearly 1,000 people. Now, only about 1,300 residents remain, forcing Mayor Efisio Arbau to bring on the “Case a 1 Euro” project. According toThe Local Italy, “The phenomenon has its roots in the post-war economic decline of rural Italian communities, which saw more and more small town inhabitants emigrate to major cities.
Once you have sent the form to express your interest in the prequalification process of buying a house for € 1 you will be included in a waiting list. As new housing units become available, each applicant will be contacted by the town hall in chronological order. The applicant will then be invited to see the property so one can decide whether or not to buy the house at a symbolic price of € 1.
Not a Joke: Here's How to Buy a $1 House in Italy Right the F*ck Now
Last year, theNew York Timesreported that there are nearly 2,500 rural Italian villages suffering major infrastructure damage, decreases in population, and semi-abandonment. This has led various places throughout the country to offer up building and land opportunities, from paying people to move thereto literallygiving away old castles. Amkina-experience.comWhile renovation costs for virtually all of the homes will be steep, the living costs and local taxes are quite low, according to Tabbone.
Remember last year when the country of Italy literally gave 100 castles away for free? Unfortunately, there’s been a sharp price increase, but the good news is you can now buy one of about 200 homes in the Italian town of Ollolai for about a dollar, TIME reports. The remaining residents, too, haven’t lost hope of retaining the town to its former glory.
Are There Still 1 Dollar Houses In Italy?
So far, three of the abandoned houses have been sold and Arbau has received another 100 requests from places as far flung as Russia and Australia to buy others in the town. Despite their poor conditions, three houses have already been sold and Arbau says he's received more than 100 purchase requests from across the world, including Russia and Australia. The population of Ollolai has dwindled to 1,300 and the town is filled with abandoned stone dwellings. A move to the small Sardinian town would cost significantly more than the actual price of the home.
It's on the brink of becoming a ghost town, as younger residents have fled to bigger cities. According to CNN, the population has dropped from 2,250 to 1,300 in the past few years. The job prospects in the area are fairly limited, so this would be a particularly great opportunity if you can work remotely. "They're picturesque old buildings made with Sardinia's typical gray granite rock that grows on mountain peaks and shores," says Arbau. Now Ollolai, which takes its name from an ancient battle cry of "alalé," is fighting back once again.
Sardinia's 'primitive heart'
"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." Located in the island's mountainous region of Barbagia, the town is selling off 200 abandoned homes for just €1 (about $1.24 at press time) in order to attract new residents, CNN reports. "We boast prehistoric origins," says Efisio Arbau, Ollolai's mayor. A little village named Ollolai, whose name is from an ancient battle cry of “alale,” in the mountainous region of Barbagia, located on the island of Sardinia is offloading a bunch of abandoned homes for about $1. It's got everything from beautiful landscapes and deep-rooted history to help seal the deal for would-be residents.
The Dutch television network, RTL, has already bought numerous homes for a reality TV show set to air later in May. At least three other homes have been sold and over 100 bids have been made. Ollolai is the latest Italian city to turn historic property into 1-euro homes. Lazio, Tuscany, Abruzzo, Piedmont, Sicily, and Nulvi are already in the mix. According to their website, guests are invited to not only spend the night but will also receive a clothing item designed by the pair.
Why Italian village Ollolai is selling homes for $1
Graafsma and Abdullah have so far spent no less than 100,000 euros on their renovations, and charge between 80 and 100 euros per night to stay in one of their B&B rooms. Since its opening last month, their occupancy rates have been high and their two open rooms are mostly booked for the summer. But do you know that there are other Italian villages are selling property for € 1? To be fair, the homes actually cost 1 Euro, which is currently the equivalent of $1.25.
As youngsters left in increasing numbers, birth rates fell way below the rate of replacement, and the towns began to empty.” Not mention, housing prices in Italy have beendeclining for about eight years. Osovsky, who lives in Israel, bought the property with the idea that he would demolish and rebuild, selling three apartments and retaining ownership of one. More importantly, Osovsky expects a significant return on his investment once he puts the apartments up for sale, because Sambuca is a historic location and because the municipality is promoting the area.
A stone residence ranging from 550 to 750 square feet can be transformed into a business or a home. As a deposit, buyers must also provide a $5,840 return guarantee in addition to the purchase price. In recent years, small towns in Italy have attracted global attention by selling off their low-cost housing units for as little as one euro (roughly $1.25). The mayor hopes the refurbishment of the homes will help create new jobs and revive the local economy. Vacant homes are sometimes placed on the market for 180 days for $1 to aid low to moderate income families and community needs.
“They’re picturesque old buildings made with Sardinia’s typical gray granite rock that grows on mountain peaks and shores,” says Arbau while describing the town’s top selling points and what’s drawing people here. The municipality of Ollolai, after successfully launching the first phase of 1 euro houses, is offering 1 euro houses per rent. The rental period, in which the symbolic 1 euro will be paid, will be 5 years.
In the past 50 years, Ollolai’s population has shrunk from 2,250 to 1,300, with very few babies being born each year. Only time will tell if the mayor's gamble has paid off, but locals are excited and interest in the town is growing. Vito Casula, a retired builder, was the first to snap up a two-story house for less than the cost of a cappuccino. He transformed his new home using environmentally friendly materials, but kept the original decor, recycling old furniture. The town's mayor has put 200 homes on the market for just one euro. Once buzzing, its maze of alleys and mural-covered piazzas are now silent, as younger residents have been lured away to bigger cities.
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