A small town in France is resorting to an unusual measure to stop demographic decline: buying a house for just one euro. As Ouest France reports, it is the city of Saint-Amand-Montrond, which is launching a program of this type for the second time. However, there is one drawback that could deter potential buyers.

House available for one euro

It is a two-story, two-bedroom, one-and-a-half-bathroom house that has been abandoned for twelve years, as well as a patio and garage. The price of one euro, equivalent to approximately 1.07 US dollars, is symbolic. According to CNBC, renovations are necessary, which the city estimates at around 130,000 euros.

But the requirements for potential buyers go even further. “We are looking for a serious candidate who has a life plan for Saint-Amand-Montrond and who really wants to settle there,” said Francis Blondieau, councilor responsible for urban planning, adding: “This system aims to encourage the renewal of yesteryear.” buildings, reduce the number of empty apartments and, above all, revitalize the city center.”

The city awaits candidates

Applications are open until June 15, but must include renovation plans and detailed financing information. According to CNBC, buyers cannot use or rent the property as a second home. Furthermore, the renovation works are scheduled to be completed in July 2028. Although the selected buyer can apply for financial assistance for the renovation, he is obliged to hire local professionals.

This is the second time that Saint-Amand-Montrond has made this offer. According to Blondieau, more than 90 people applied for the first time in 2021. One family ended up winning the bid even though they had never seen the property in person.

You can also have a good time as an expat in Türkiye. This was reported some time ago by the owner of a gym who settled in Alanya. The low cost of living was a deciding factor in his decision.