Now You Can Buy A House In This French Town For Just 1 Euro & Repairs Won't Cost Extra

Saint-Amand-Montrond, a small town in France, is offering an 828-square-foot house for just 1 euro. This two-level property features two bedrooms, one and a half bathrooms, a courtyard, and a garage, reports Ouest France.?This is by no means a first for Europe, but it is only the second time for this picturesque town. Many towns in Italy have done this in the past and tried to find a new family for old, abandoned homes that could do with some TLC. Similarly, this town in France, too, is hoping to address the problem of a shrinking population and attract new prospective buyers. Here's all you need to know.

Where is the property located?

Saint-Amand-Montrond, a small town in France, is offering an 828-square-foot house for just 1 euro | Pinterest

Situated in the heart of the town's city centre, this property presents a unique opportunity. According to?Ouest France, the house has been left abandoned for 12 years and needs a lot of repairs amounting to an estimated?$136,180 (over Rs 1 crore, approximately).

What's the catch?

Saint-Amand-Montrond is located in central France and has a population of around 9,000 | Pinterest

The 9,000 residents-strong town is looking to welcome “a serious candidate who has a life plan in Saint-Amand-Montrond, who really wants to settle there,” Francis Blondieau, deputy in charge of Urban Planning, told Ouest France.

“This system aims to encourage the renovation of old buildings, to reduce the number of vacant housing and above all to revitalize the city center."

According to the report, the intended candidate will have to stay put for 10 years. If you're planning this make this your second property, or eventually rent it out, then your application will be rejected.

“The goal is for the new owner to participate in the life of the neighborhood,” Blondieau said.

How can I apply?

The 9,000 residents-strong town is looking to welcome “a serious candidate" | Image: Pexels

The application period commenced on April 1 and will remain open until June 15. Prospective applicants are required to submit comprehensive renovation proposals along with detailed financing particulars as part of their application submissions. A cover letter detailing your plan for the property can help your application," Blondieau added.

If you're interested, you can visit the property starting May 15. The new homeowner will be chosen by September and the deed will be officially signed in January 2025.?Once that is done, renovations will have to start within five months and be finished by July 2028.

More importantly, after the new homeowner is selected, they can apply for financial aid to renovate the house, provided they meet certain criteria.

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