If you’ve ever dreamed of living in Italy, then today is your lucky day! For only €1 — or about $1.20 — you can purchase your very own house in the small town of Ollolai, which is located in the region of Barbagia on Sardinia. However, there’s one small catch…

While there are 200 homes available for that price each one is in desperate need of repair, so whoever commits to one also commits to a full refurbishment within three years of the purchase date. That’s going to cost you in the ballpark of $25,000.

There’s a method to all this madness, though…

Ollolai’s mayor, Efisio Arbau, hopes to accomplish two things: Restore the town to its previous glory while keeping the historical integrity of it, and return its popularity to what it used to be. In the past 50 years, it’s dwindled from 2,250 people to 1,300.

“We boast prehistoric origins,” he says. “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.”

Ollolai isn’t the only town in Italy to be doing this. In fact, it’s part of a project called “Case a 1 euro,” which includes properties across Sicily, Tuscany and Abruzzo that are facing the same problems. You’d better work quickly if you wish to secure one of these properties. Three sales have already been made, and more than 100 prospective buyers have shown interest in the homes.

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