As ever though, there is a catch. The house isn’t exactly in pristine condition. It hasn’t been lived in for 12 years, and as such, the local town estimates that the renovations will come at a cost – to the approximate tune of 127,800 euros. .
However, all hope is not lost, for the cost of the renovation will be subsidised by the town itself, as confirmed by local urban planning delegate François Blondieau in daily newspaper Ouest-France.
Applications to buy the house opened on April 1, and are set to close on June 15.
You can pay the property a visit from May 15 until the deadline and, if successful, you’ll be expected to sign the deeds in January 2025 with the view to completing work by July 2028, the report said.
Why is France selling houses for 1 euro?
There have been similar cases in Italy where many towns have offered up 1 euro house purchase schemes over the last few years. There’s a reason some European countries are selling off houses for so little. In Saint-Amand-Montrond, it’s because the town is trying to attract more permanent residents. At present, just over 9,000 people live here. The reasons are the same as in France: to encourage people, particularly younger generations, into the local area to stabilise the population.France and Italy aren’t the first European countries to try this scheme: in January 2024, a village of in northern Croatia attempted to sell a house for just one euro.
Who is eligible to buy the 1 euro house in France?
With this particular French house, the property is only open to those who intend to make it their main (and only) residence, according to the report. So, if you already own a home in another country and want to make this your second, your application likely won’t be successful. Likewise, prospective owners of the Saint-Amand-Montrond property will need to commit to staying for 10 years, on top of shelling out for a decent amount of the renovations.
