Auctioning off homes for cheaps has been a tactic employed by small European towns for a while now, and it looks like it’s not going anywhere, as Ambert, a commune of just 6,500 people in southeast France, is joining the €1 homes club.
Why? To stop it’s population dwindling further. The tactic is part of a wider, five-year project to encourage people to move in, and because one part of the town has property vacancy rates of up to 60 percent, the local authorities have put two homes on the market for just a €1 (roughly 85p).
So far, the wider project seems to be working. Another class was added to Ambert’s school two years ago, and renovations to the old chamber of commerce and industry building will mean it reopens as a public spaces (with jobs for local people on offer) in 2026.
So, selling these homes should be pretty easy – well, sort of. Much like lots of other €1 home schemes, in France but more commonly in Italy, is that they not only come with hidden costs, but also some rather significant terms and conditions.
Firstly, there are no second-home buyers allowed. According to The Local, buyers must agree to live in the property for a minimum of three years once it’s habitable. If they don’t, they could face penalties such as repaying any grants given for the refurbishments. This relates to the second requirement.
While €1 is seriously cheap, both properties require some serious TLC and everything from roofing and insulation to new windows and electrics could be necessary. In fact, whoever gets the chance to buy one of the two houses could well be asked for a written commitment to these works, and to provide a timescale of completion.
Hardly a fly-by project, is it? The other thing to bear in mind, on top of all that, is your proficiency at speaking French. Negotiating about buying property is hardly on-par conversationally with ordering a croissant, so if you’re interested, maybe you should get crackin’ on Duolingo.
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Plus: The incredible 2,500-mile train tour of France launching in September.
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