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.
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 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.
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.