Pack your bags. A town in Italy is selling homes for just over US$1
- Some 100 houses in the Sicilian town of Mussomeli are available for practically nothing, but buyers will have to spend thousands of dollars for renovation
There is no doubting Hong Kong’s reputation as the world’s most expensive city to own a house in. But halfway across the world in the town of Mussomeli, in central Sicily, residents are selling abandoned houses for €1 (US$1.12) each.
“All houses – big and small – are on sale for €1,” Sorce said, adding that some of the houses were as large as 300 square metres (3,229 square feet).
According to a Demographia International Housing Affordability Study from January, a family would on average need to save up for 21 years without spending a single dollar to afford a home in Hong Kong.
Sorce said that the owners had moved to a newer part of town and did not wish to pay annual property taxes for the abandoned homes that could top €350 (US$392) for a 100 square metre (1,076 square foot) abode.