Cinquefrondi, in a town in the southern region of Calabria. is striving to attract new residents. They are offering homes for only 1 Euro or $1.12 in US dollars.
The town successfully avoided COVID-19 but is battling depopulation as many leave to find work elsewhere.
The town’s mayor has launched “Operation Beauty” which offers many homes for sale for only one dollar as long they are renovated. After purchasing a home, renovators are required to pay 250 Euros annually as an insurance fee until renovations are complete. Homebuyers are given three years to complete the renovations. If they do not within this time period, they are liable to pay $30,000. However, three years is ample time to complete the renovation.
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