Ollolai, a village in Sardinia, Italy, is offering homes for as little as 1 euro to attract new residents, particularly millennials and Gen Z, and Americans disillusioned with their political system. However, these homes require significant renovation. The initiative is part of the village's strategy to combat population decline and attract new residents.
The village of Ollolai in Sardinia is offering homes for as little as 1 euro but there's a catch.To any millennial or gen Z struggling to buy a house or fatigued office worker trapped in the corporate rat race, it sounds like a deal too good to be true: a slice of Italy for as little as one euro .
Presumably, a similar offer is forthcoming for Australians who may become fed up with the political system after next year's election. "Are you worn out by global politics? Looking to embrace a more balanced lifestyle while securing new opportunities?" the website asks.The initiative is reminiscent of offers made by other villages dotted along the famous boot, which have achieved mixed success in delivering the much-desired influx of newcomers to Italy's shores.
But Ollolai's 1 euro housing project doesn't have the same caveats. Its mayor has only made one request: he wants Americans, lots of them.The schemes are usually launched by the local government, which acts as a kind of real estate broker, to attract interest from would-be buyers all over the world.Those selling usually consist of Italians uninterested in renovating crumbling properties inherited from a family member or deterred by the tax levy imposed on owning more than one home.
Shortly after the US election, Google Trends results for tech relocation website MoveBuddha recorded a spike in traffic from Americans thinking about moving overseas. And for those prepared to pay a little more — up to 100,000 euros — Ollolai is even offering move-in-ready apartments. Christina and her husband, Pete Sobolev, bought a house in the village of Santa Domenica Talao, near Scalea in Calabria, in 2011 after they discussed finding a shared goal for their life, separate from their everyday working lives in America.
"There was a flood of people coming over all at the same time wanting these properties," Christina said. "Maybe you're buying the one the middle , and you renovate , but the leaks and the water comes into your unit, which we actually saw, though they didn't go through us. Applying for a residency, learning the language and figuring out your financial situation and whether you will need to find a job are all steps you will need to take before boarding the plane.
Sardinia Ollolai Affordable Housing Renovation Population Decline Digital Nomads Political Disillusionment
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