Ollolai, in the mountain region of Barbagia on the island of Sardinia, is offering 200 abandoned stone dwellings for the bargain price of just €1 (90p).
The gimmick is being offered in a bid to stop the destination from becoming a ghost town as Ollolai's population has gone from 2,250 to just 1,300 over the past 50 years and only a handful of babies are born each year, CNN reports.
But there is a catch – buyers must commit to refurbishing the dwellings, which are in a poor condition, within three years at a cost of around £17,500.
Despite this, Ollalai's mayor is confident that the town's beauty and past will lure people in.
'My crusade is to rescue our unique traditions from falling into oblivion,' Efisio Arbau said, according to CNN.
'Pride in our past is our strength. We've always been tough people and won't allow our town to die.'
Once the capital of Barbagia, Ollolai's once-buzzing piazzas are now much quieter after families abandoned their homes and younger residents left for big cities.
Many of the homes have been left unoccupied, falling into ruin, for decades.
So Mr Arbau contacted former homeowners, including shepherds and farmers, and asked them to sign their properties over to the town's authorities.
After approving a special decree, the homes were placed on the market last year.
And his plan to bring 'our grandmas' homes back from the grave' and revive the local economy appears to be working.
Three have been sold and Arbau says he has received more than 100 requests to buy from all over the world.
Retired builder Vito Casula and his wife were the first to buy a two-storey home for less than the cost of a loaf of bread.
The couple, who lived nearby but often visited Ollolai, grabbed the opportunity after spotting an ad in a local newspaper.
He's refurbished it with environmentally friendly materials, but retained the original décor.
And Mr Casula recommends the town highly to anyone to looking to leave behind stress for a 'peaceful, healthy life.'
He added that the town also boasts delicious good and friendly, welcoming residents.
The Daily Mail
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