This Breathtaking Italian Island Is Offering Homes To Foreigners For Just 1 Euro

Fed up with the politics or the skyrocketing cost of living in your home country? Why not purchase a home on the exotic Italian island of Sardinia for 1 euro (a tad more than $1) and start a whole new life? To address population decline due to the area's plummeting birth rate, the Sardinian town of Ollolai established its "Live in Ollolai" program, where foreigners can purchase run-down properties for 1 euro — usually old granite farmhouses in the center of the village — with the agreement that owners fully renovate them within three years. Anyone can apply for this deal, but the mayor of Ollolai, Francesco Columbu, told CNN that " Americans will have a fast track procedure. We are betting on them to help us revive the village, they are our winning card." 

The offer may sound tempting, but be sure to read between the lines before you sign any real estate contract. While it's true that a home in Ollolai can be yours for the bargain price of $1, remember that this is not a home that's move-in ready. According to Forbes, you'll have to spend an estimated $21,000–52,800 in renovation costs before you can live comfortably in that home — that is, if a solid roof, walls, and flooring, functioning indoor plumbing, and other modern conveniences are important to you.

If the idea of renovating a dilapidated property does not appeal to you, other housing deals are available for those seeking to move to Ollolai, either temporarily or permanently. For one, the village will be offering move-in ready homes to those willing to pay up to $105,000. In addition, digital nomads can apply to a special program that provides free housing for nomads in exchange for service to the community in the form of workshops and special projects. Having trouble deciding which of these options would best meet your needs? The village of Ollolai even offers a dedicated support team to walk you through different properties and address all your relocation questions. 

But don't sign on the dotted line just yet. You also need to consider what life is really like in a rural Sardinian village. While Sardinia may be famous for its beautiful beaches, Ollolai is not located anywhere near the coast. Rather, it's set amongst forests deep in the heart of the island, about a 2-hour drive from Cagliari, the island's largest city. While it may be missing sublime ocean views, it does have a rugged beauty all its own, with lovely mountains all around and myriad opportunities for thrilling outdoor adventures and recreation. But life inches along more slowly here, which some outsiders could find incredibly boring.

However, some newcomers to the village have welcomed the transition to a simpler and more communal lifestyle. "Life in Ollolai is wonderful, you are feeling like living with a big family. The neighbors are taking care of us and bringing a lot of veggies from their own veggie garden. For us as Dutch people who lived in Amsterdam/Utrecht, it is like 30 years back in time, no one is in a hurry, always time to grab a coffee or helping each other out," said Marije Graafsma and Ovan Abdullah, a couple who relocated to Ollolai from the Netherlands, in an interview with Ecobnb. They also described a wide range of things to do in the area such as hiking in the mountains with local guides, enjoying delicious outdoor lunches with Sardinian friends, learning the traditional arts of pasta making and basket weaving, and attending colorful local festivals. 

Still not sold on quaint Ollolai? The good news is that Sardinia is not the only place in Italy that offers the 1 euro housing scheme. These deals are available all across Italy, including on that other colorful and multifaceted Italian island, Sicily, as well as in the regions of Tuscany and Piedmont. If you're not in a place to act now, don't worry. These offers are not expected to go away anytime soon, as the country will continue to search for new ways to attract residents to its rural villages, so many of which are facing similar population crises.