The coastal town of Cinquefrondi, in southern region of Calabria, claims to be “COVID-free” and is welcoming buyers from around the world to snap up a home for a little more than a dollar as part of its new “Operation Beauty” initiative.

The town hopes the project will attract more residents and revitalise its urban areas.

Similar to the other towns in Italy with homes on the market for less than the cost of a coffee, many of Cindquefrondi’s young people have been moving to northern regions or abroad in search of jobs, causing a trend of depopulation.

The new home owners will have to renovate their house within 3 years. As opposed to other Italian towns that have offered homes for €1, Cinquefrondi won’t require a hefty down payment the buyer must give up if they fail to renovate the home.

The town only requires an annual €250 policy insurance fee until work on the home is complete. If the new home owners don’t revamp the home within the deadline, they’re liable €20,000 fine.

But the €1 houses, which once belonged to farmers, shepherds, and artisans, are fairly small, so the three-year timeline seems doable.
Cinquefrondi is known as the “Zipper Town” as it straddles the juncture between Calabria’s Ionian and Tyrrhenian coasts in the toe of Italy’s boot.

It has stunning views of the UNESCO-listed Aeolian isles, easily accessible from a nearby harbour. Fully renovated houses are also available at low prices.