Own Property in Italy for Less Than £1

An eccentric Sicilian mayor is trying to reinvigorate the local housing market - by offering properties for less than £1.

Vittorio Sgarbi, the Mayor of Salemi, is offering homes for one euro to try to revitalise the historic town centre, reports the Daily Telegraph.

The downside is that many of the properties are barely standing and in dire need of renovation after being virtually destroyed by an earthquake in 1968.

Sgabrbi, an art critic and former Culture Minister in Silvio Berlusocni's government, is a regular on late night TV panels and is often at the centre of controversy because of his outspoken views.

...''In exchange for a token payment of one euro we will offer them one of these houses and ask that they undertake to restore them within two years while respecting their original characteristics.

''We have had a lot of interest people are already booking up to come down here - my aim is to make Salemi the next Pantelleria.''

The tiny volcanic island of Pantelleria, off the coast of Sicily, is a popular celebrity haunt where previous visitors include Madonna and Naomi Campbell.

Could you imagine? How fabulous would it be to own property in Italy? Now, if only we could get our mayor to reinvigorate the local housing market and offer houses for $1 in Los Angeles. THAT would be fabulous!