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90 Pence for a Property in Italy

22nd July 2018

Of course, there’s a small catch…

90 Pence For A Property Abroad?

  • The Village, Ollolai in Sardinia is offering 200 abandoned stone dwellings
  • Buyers must commit to refurbishing the home within three years
  • Bid to revitalise the town as the population has shrunk
  • Many of the homes are in poor condition after being left unoccupied

Looking to buy abroad, perhaps in a picturesque Italian village, well the timing couldn’t be better! – you can now purchase a house for less than 1 pound, which of course comes with a catch.

The Italian village of Ollolai is nestled in the mountainous region of Barbagia on the gorgeous island of Sardinia, which is now offering 200 stone dwellings for the bargain price, however these properties have been left in poor condition due to being left unoccupied for years!

The village of Ollolai is quite small, with just 1,300 people left – most of which are middle-aged and childless according to statistics.

The catch – as well as purchasing costs, buyers must commit to refurbishing the property, which of course is in poor condition, and there is a deadline – this must be done within 3 years! After 5 years, the property is available to sell if they wish.

Interest is coming in from all over the globe!

Some properties have been refurbished with environmental friendly materials, which could be mean for lower costs but retained the original décor.

The Village boasts delicious island style food, friendly and very welcoming of new residents – following the recent media reports, authorities of the town have received hundreds of applications for houses in the village from across the globe.

 

The Location of the Small Village

History and Culture of the Town

Despite all the extra costs, and the possibility of spending a fair bit on a property like this – Ollalai’s mayor is very confident that the towns beauty and history will lure a fair number of people to the town.

Mr Arbau contacted former homeowners, shepherds and farmers asking them to sign their properties over to the authorities to create this 90p plan – an attempt to rejuvenate the town.

Some properties have already been snapped off the market and building work underway after buyers have assessed the properties condition.

 

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