A small town in the north of Croatia which has been undergoing a fall in the local population, is seeking to bring in new residents by selling abandoned homes for just 1 Kuna ($0.16), 16 US cents.
The town of Legrad hopes that the move will bring new residents and much-needed revenue to the local community and local businesses.
The town sits near the border with Hungary and has a population of just over 2,000. It is surrounded by beautiful countryside but has declined economically over recent decades.
The town, once part of the Austrian-Hungarian Empire, was the second most populated in Croatian territory.
The Legrad mayor, Ivan Sabolic, told reporters of the plan:
"We turned into a border town with few transport connections to other places. Since then the population has been gradually falling. After some media reports about our action we got enquiries about houses from very distant places like Russia, Ukraine, Turkey, Argentina or Colombia."
Just under 20 homes will be sold in the project. There is, however, a major catch… All the houses are in serious need of repair, and some are almost complete ruins and will need to be rebuilt. That said, the town of Legrad says it will cover 20% of all renovation costs.
Other criteria must also be met when buying a property. The applicants must be under 40 years old, be financially solvent, and pledge to stay in the town for at least 15 years.
Jobs in the town include agriculture, working in the timber industry, food production and metallurgy.
Danijel Harmnicara, a Croatian citizen who moved to the town with his wife and child and bought one of the homes said:
"It is much nicer to live in your own place than to be a tenant. Staying 15 years here is not a problem for us, we don't plan to move."
The town is not the first to carry out such a scheme, a small town in Italy facing similar issues last year put homes on the market for 1 Euro to widespread publicity and interest.
[h/t: Reuters]
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