A pretty European town is selling houses for less than a pound in an astonishing deal which could tempt British buyers. Legrad, Croatia, has put houses on sale for just 11p.
The town, situated on the Croation-Hungarian border and home to around 2,000 people, has dramatically undercut other houses in Europe that sell for just one euro. Despite its diminutive size, the town has all the amenities locals need including shops, a doctor, and a dentist.
However, the local government is unhappy with the population size so they have decided to try a new way to increase it. Their latest scheme is to sell several houses in the area for just 11p, less than the price of a Freddo.
The town is filled with fascinating things for tourists to see and engage with including the Ivan Vecenaj Gallery, the Medicarna Spicko, and the Kaszo Lombkorona Trail which takes in the eye-opening natural beauty surrounding the Legrad.
If someone wants to invest in and buy one of Legrad’s houses they have to abide by certain conditions. The Sun reported that they have to be under the age of 45 and be in a relationship, but they do not have to be married.
Furthermore, buyers are not allowed to own any other properties or have a criminal record. Speaking about the scheme with local media, the mayor of Legrad Ivan Sabolic said: “A total of five houses ready for occupancy have been sold.
“Three families have already moved in, and what delights us is that all three families welcomed a new member during their move-in. This has increased the number of children in the daycare centre.”
The house-selling scheme has already had an impact as the new newborns have triggered the construction of a brand new daycare to accommodate them as the families follow in Italy’s footsteps.
A few years ago, Italy started selling houses for just €1. One man, Hussain Ramzan, bought his Sicilian home for the equivalent of 86p in 2019.
Following his purchase, he spent around £9,000 on renovating a property he intends to visit every year with his family.
Mr Ramzan told the i the property was a “real bargain” and finished the work just before the Covid-19 pandemic struck in 2020. He explained: “The house was just £3,900 then I spent £2,600 to restyle it and £2,574 for the property deed and the whole paperwork, including the notary fees.”
Although Mr Ramzan spent considerably more than €1 to buy his house according to the 1 Euro Houses website buyers “give the municipality the availability to sell the houses at the symbolic price of €1”.
Property expert Maurizio Berti, who operates the case1euro.it, the Sun the reason why these properties are put up for sale is either they are dilapidated or because the private individuals who own them “want to get rid of them so as not to pay taxes or heavy taxes”.
Furthermore, once someone buys the houses there are conditions, they have to adhere to such as a project timeline and notary fees, but this varies from municipality to municipality. In the case of foreign buyers, there are more hurdles to jump over.
In each country where similar schemes run, there are different sets of rules which both foreign and native buyers must adhere to.
