In Italy in particular, many villages and towns have made a name for themselves by offering homes for sale at low prices. But there is a hitch
Legrad in northern Croatia was the second largest city in what is now Croatia. But after the collapse of the Austro-Hungarian monarchy about 100 years ago, the city lost its importance. Most of the population has left the place, while only 2,250 people live in Legrad. 70 years ago there were twice that number.
One now wants to counter this trend. Empty houses and abandoned construction sites are offered for sale for only 1 HRK. This equates to about 13 euro cents. Initially, there were 19 objects to choose from, which were in various stages of decay. Many of the houses are almost ready for demolition, almost in ruins, with no doors, windows and sometimes no walls. All properties need a complete renovation.
Although the city pays each new owner a subsidy equivalent to 3,333 euros for renovations, most homes will likely require much more money, so potential buyers will have to budget. Conditions are also attached to the purchase of the property. Applicants must be under 40 years old and pledge to stay in Legrad for at least 15 years.
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