Salemi

The town selling homes for the price of a Coke

PHOTO: Bargain homes: The picturesque town of Salemi in Sicily is the latest to offer up dilapidated properties for next to nothing.

Struggling to get on the property ladder in New Zealand? Perhaps a move to Italy is in order.

Dilapidated homes in the Sicilian town of Salemi are being auctioned off at a starting price of just €1 (NZ$1.77), CNN reports.

The only catch is you have to have to provide the local council details of how you plan to renovate it, and pay a €3000 deposit – refunded once the work is complete.

The homes were originally constructed in the 1600s, hundreds of years before many Kiwi homes with heritage protection were built, but were damaged in a quake in 1968.

Thousands fled Salemi following the quake, and it’s taken years for the city to legally acquire the homes and get the homes ready for auction.

“All buildings belong to the city council, which speeds up the sale and reduces red tape,” Mayor Domenico Venuti told CNN.

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