The purchasing power of one dollar is relatively high compared to most currencies, nevertheless, it doesn’t cross one’s mind that $1 can buy a home.
That’s exactly what’s happening in an Italian village, which is selling some of its historic homes for only €1 — around $1.20. The Ollolai village is located in the region of Barbagia on Sardinia.
The 200 stone houses are in desperate need for new owners. It turns out that there’s a catch as each of the homes available for €1 is in desperate need of repair. Buyers will have to commit to refurbishment within three years, which is likely to cost about $25,000.
The move has been made in an effort to preserve its fading history and even bring back its population, which shrunk from 2,250 people to 1,300 in the past 50 years.
“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.”
Three sales have already been finalized as revealed by Arbau, adding that he has received more than 100 requests from around the world. Prospective buyers or people interested are asked to contact the municipality of Ollolai.