The village of Ollolai on the island of Sardinia, Italy is planning to sell homes for only 1 Euro dollar, specifically targeting Americans who wish to flee the country after Donald Trump’s victory. Mayor Francesco Columbu said to CNN that the new “Live in Ollolai” website is meant to focus on US citizens who “will have a fast-track procedure” when it comes to owning a house in the town. He hopes that this initiative, much like similar programs throughout Italy, will entice Americans to revitalize and repopulate their community. Here’s how to buy a home in Ollolai for a buck and what the catch is to buying a house that cheap.
What Ollolai homes are for sale for one Euro dollar?
The official list of Ollolai homes that will be for sale in the “Live in Ollolai” program is coming soon on its website. Columbu says 100 cheap homes will be available with photos for buyers to look at soon. That said, a Dutch TV show as well as various news segments reveal the types of homes that will be offered.
A 2018 segment on Global News reporting on a similar initiative Ollolai started in 2015 shares video footage of the houses in the village. The main catch of buying one of the homes in Ollolai for one Euro is that the owners must promise to renovate them within a year and then complete upgrades within three years. This would cost roughly 20,000 to 30,000 euros, which is roughly $21,200 to $31,800 in US dollars. New owners also can’t sell the property for five years to prevent high turnover rates.
For a more intimate look of what purchasing and renovating a home in the town is like, a Dutch reality show called “Het Italiaanse Dorp: Ollolai” or “My Italian Home: Ollolai” in English features 30 episodes where young couples move into the village enticed by the 1-euro program and adapt to its quaint, traditional lifestyle. The Dutch news outlet RTL has another segment that follows up on the couples in the town.
This 2024 edition of the initiative will have some additional options. Digital nomads, or people who can work remotely, could have access to free temporary homes and other houses that are “ready-to-occupy” will open for sale at only 100,000 Euros. Columbu says that he has a team specifically made to help interested buyers with contractors, paperwork, and private tours of the properties.
Ollolai is located at the heart of Sardinia and is about a 90-minute drive to the beaches in Arbatex on the right side of the island. Arnold Schwarzenegger, who was a friend to bodybuilder Franco Columbu (no relation to the mayor) who was born in Ollolai, is a honorary citizen of the town.
Italy’s president Giorgia Meloni, along with other world leaders, congratulated Trump on his victory.
