Italian home

Want to Buy a Home in Italy? It'll Only Cost You $1.20

If you've ever wanted to pick up and move to Italy, or maybe just snag a cheap vacation home overseas, now is the time. For just $1.20, you can own your very own home in one of the the world's most romantic countries.

The picturesque town of Ollolai lies in the mountainous region of Barbagia on the Mediterranean island of Sardinia. But as beautiful as the small town is, the younger crowd seem to enjoy big city living these days. As a result, somewhere around 200 homes now lie abandoned in the town.

Luckily, Ollolai mayor Efisio Arbau has no plans of allowing the community to become a ghost town.

"We boast prehistoric origins," Efisio Arbau says. "My crusade is to rescue our unique traditions from falling into oblivion."

That's why Arbau decided to make potential residents an offer they couldn't refuse. At just $1.20, homes in the area are sure to find new buyers. However, there is a small catch to the deal. Whoever buys the homes must be willing to renovate them within three years. Some are in pretty bad shape, but renovation costs should only be around $25,000 or so.

The original decree was announced last year, and a few of the homes have already sold. Now, Arbau is busy sifting through the hundreds of requests that are on his desk from all around the world, some as far off as Russia and Australia. A new reality series tracking a group of Dutch team who are restoring some of the homes is set to air later this year.

So, if you want to whisk yourself away to the quiet, simple life that Ollolai has to offer, you had better act fast.

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