This European town sells homes at Rs 100 but with conditions, know who are eligible

Older houses are difficult to sell due to their high maintenance cost, old neighbourhoods, and their age, along with other major factors. Even when owners are successful in selling them, they only receive a small amount due to these factors, which make such houses less attractive to buyers. However, a town in France is being sold for an attractively small and shocking price. Houses in Ambert, a small town in France, are being sold for only 1 euro, that is approximately Rs 100 in Indian currency. The town is old, and so are the houses, but even then, such a price is shocking and, to some extent, lucrative.

The scheme may be interesting, but can one think of only shelling out 1 Euro from their pocket and just claiming the homes as theirs? That is not the case here. This offer comes with a few conditions aimed at fulfilling the purpose of sale in the first place. The population in Ambert is very small, as it is declining, and so to address this issue, conditions are kept.

Ambert is a town in south-east France with a population of only 6,500 people.

What are the conditions?

Those who do not own a house previously are eligible to buy houses here. Only first-time buyers are eligible. Also, buyers are required to live in the house for a minimum of three years and should not rent the property, or else they will not be qualified. If the buyers do not follow these rules, the government may pull out the grant and even impose a penalty.

However, even buying homes at this minimum cost would not be lucrative for buyers as they would incur high expenses for their renovation and repair work, like maintaining roof, walls, improving electrical systems and others. This would need to make the houses habitable and would thus be expensive.

There are many other cities in Europe where houses are being sold at such low prices due to their dwindling population.