The small town of Saint-Amand-Montrond in France has launched a unique initiative to sell a house for just 1 euro, approximately USD 1.07. This move is part of a broader effort seen in various parts of Europe to revitalize shrinking communities by attracting new residents willing to invest in neglected properties. The house on offer, an 828-square-foot two-level residence with two bedrooms, one and a half bathrooms, a courtyard, and a garage, is centrally located in the town. However, the catch is that the house has been uninhabited for 12 years and requires substantial renovations, estimated to cost around USD 136,180. Prospective buyers must also commit to relocating to Saint-Amand-Montrond and integrating into the local community.
Applications for this opportunity opened on April 1 and will close on June 15. Interested individuals must submit detailed renovation plans and proof of financing, along with a suggested cover letter outlining their long-term vision for the property and their commitment to the town. The town aims to find a buyer who will not only restore the property but also contribute to the community for at least ten years. The chosen applicant will be announced by September, with the legal transfer expected in January 2025. Renovations must begin within five months of signing and be completed by July 2028, using local craftsmen. This is the second time Saint-Amand-Montrond has offered such a deal, having first done so in 2021, which saw over 90 applicants. The town hopes this initiative will reduce the number of vacant homes and breathe new life into the city center.
