£1 wouldn’t even get you a packet of stamps in this day and age, and don’t even think about getting anywhere close to a pint in London.
In Bisaccia in Italy, however, you can now bag yourself a house, thanks to a scheme from the local government.
There is a small catch, in that you’ll have to have the money to renovate the house you end up with, but it’s still an absolute steal for such a picturesque location.
In the Southern Campagnia region of Italy, the town has a small population of around 5,000 people.
Around 90 homes are being put up for sale at low prices in the area, after an earthquake a few decades ago saw many people abandoning properties and leaving for good.
It’s hoped that the attractive rates (starting from just €1 each) will bring in people looking for a project, who’ll be there to restore the dilapidated buildings to their former glory and bring in money to the local economy.
In particular, the town council are looking for large groups to club together and buy multiple plots, in an effort to stop investors swooping in, doing the homes up, then selling on and leaving.
The idea is that this will be a collaborative project that will bring life to these homes and foster a sense of community.
‘We face a very particular situation here,’ the town’s deputy mayor, Francesco Tartaglia, tells CNN Travel.
‘The abandoned [area] spreads throughout the most ancient part of the village. Forsaken houses are clustered together, one next to the other along the same roads. Some even share a common entrance.
‘That’s why we welcome families, groups of friends, relatives, people who know each other or investors to join forces. We encourage them to buy more than just one house to actually have an impact and breathe new life.’
‘Bisaccia is dubbed the ‘genteel town’ because, despite the hardship, its people have always been respectable, welcoming, hard-working and resilient.
‘Newcomers here are pampered and taken care of. We want this place to shine again.’
Unlike in previous schemes in Italy where the buyers are expected to spend a set amount on renovations, there are no stipulations on the money spent in Bisaccia.
There is also no timeframe in which owners are expected to have the work done, which means it’s not solely dependent on who can get the work done quickest and for the most money.
Plus, the town have highlighted the fact that – because the properties are empty – there shouldn’t be any red tape when it comes to the purchase.
‘This stands as a guarantee that the disposal process will be speedy and smooth, we won’t need to chase descendants of old owners nor have any issues with third parties,’ says Tartaglia.
Beautiful scenery can be seen from all around Bisaccia, with stunning Baroque architecture filling the small town’s winding streets.
Because of the fact it’s right on the border of Campagnia, Puglia, and Basilicata, you also have the benefit of the blend of cultures.
‘Our folklore and traditions are the product of a picturesque contamination between regions, we celebrate Carnival with local masks and have a variety of fairs and foods that embrace all regional traits,’ says Tartaglia.
‘It’s like getting the best of three regions in one single place.’
And for the price of a 2025 Freddo, what’s not to love?
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