Properties in the Mediterranean town of Salemi are being sold for a single euro each.
The historic town of Salemi lies on Sicily's sunny Mediterranean coast, 72km from Palermo. However, despite its idyllic location you can now buy a house in the town’s ancient centre for just one euro.
While this may seem like the would-be property developer's idea of bliss, there is a catch. The town centre lays unpopulated, filled only with houses have been left derelict for the past 40 years after an earthquake brought this once vibrant area to its knees.
"There are 3,700 houses owned by the council, almost all in the old town, that are in danger of falling down, of crumbling and dying," said Salemi's controversial mayor and former art critic Vittorio Sgarbi of the euro-home scheme.
"We're thinking of people who have the sensibility and economic resources to embark on this adventure. In exchange for a token payment of one euro we will offer them one of these houses and ask that they undertake to restore them within two years while respecting their original characteristics."
As part of the 'deal', owners of the euro-homes would be given 2 years to restore their property to its former glory, a feat that is estimated to cost approximately £80,000. 'Developers' would also need to harness the skills of local architects, builders and decorators rather than bringing in outside help so as to boost the static economy of the local area.
While these ties may dampen the initial appeal of Sgarbi's euro-homes, investors could later reap the rewards. The mayor's vision sees Salemi as the new celebrity hot spot, something that will undoubtedly push the prices of tastefully restored properties through the roof. What with Inter Milan football club president Massimo Moratti and Genesis singer Peter Gabriel already expressing interest this dream could soon be a reality.
"We have had a lot of interest people are already booking up to come down here - my aim is to make Salemi the next Pantelleria." commented Sgarbi.
The 1 euro proposal represents the second phase of Salemi's regeneration scheme. Locals were initially offered the homes free of charge but after poor uptake, outside investment was needed.
Oliver Toscai, fashion photographer and Counsellor of Creativity for Salemi has been credited as the scheme's innovator.
"These houses abandoned for 40 years are like a heart pierced by a thorn - they are dangerous but they also represent a patrimony that is slowly dissolving away." He said
"We want to try and attract people back to the town or at least make some form of donation to try and help save an architectural environment that we are rapidly losing."
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