Americans who are unhappy with the 2024 election results and have fantasized about leaving the country could turn that dream into a reality thanks to a recent offer from an Italian village.
Ollolai, a pretty mountain village on the island of Sardinia, offers Americans the chance to buy a house for as little as €1 or $1.05.
“Are you [worn] out by global politics? “Looking to embrace a new lifestyle while securing new opportunities? It’s time to start building your European escape in the stunning paradise of Sardinia,” asks the village’s new website, launched with U.S. voters in mind.
The town’s push to attract more residents isn’t just a reaction to the election but is part of Italy’s broader effort to fight population decline. A 2016 study from Italy’s Ministry of Environment found that about 2,500 towns were so depopulated that they wouldn’t survive more than 25 years.
In 2022, the island of Sardinia offered new residents around $15,000 to move there, while Tuscany offered to pay people $32,000 to move to some of its villages.
Ollolai also offered a similar deal in 2018.
Americans interested in making the move should note that the village has three tiers of accommodation: free temporary homes for certain digital nomads, one-euro homes needing renovations, and ready-to-occupy houses for prices up to 100,000 euros or $105,000.
According to Forbes, buyers who purchase the cheaper homes are expected to commit to the renovation within three years and may need to pay a guarantee fee to prove their dedication.
Other reports have indicated that the true cost of renovating one of these $1 homes in Italy can range from around $35,000 to $446,000. The median price of a home in the U.S. is $424,950, according to an October report from Redfin.
Americans looking to make the move to Italy can find more information here.
Americans who are unhappy with the 2024 election results and have fantasized about leaving the country could turn that dream into a reality thanks to a recent offer from an Italian village. Ollolai, a pretty mountain village on the island of Sardinia, offers Americans the chance to buy a house for as little as €1 […]
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