The Italian villages selling houses for one euro

The tiny Italian village of Ollolai may seem like the ideal refuge from city life, but in reality, it's losing people at an alarming rate as residents trade the historic hamlet for bustling cities.

According to Business Insider, in response, villages like Ollolai across the boot-shaped nation are selling abandoned properties for a single euro. In exchange, owners must renovate the properties within three years — a process that could cost about £20,000

"My crusade is to rescue our unique traditions from falling into oblivion," the village's mayor, Efisio Arbau, told CNN.

A year after the program was announced, interest continues to boom. According to Magaraggia, a law firm that advises people on how to buy, sell, and manage properties in Italy, Ollolai received 5,000 requests for its first 100 properties, and so the program was put on hold as the government seeks new properties to sell.

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