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This Italian town is selling houses for $1.60

Images: Getty, AAP

Days are getting shorter, nights growing colder and Australians’ thoughts are turning to summers in Europe.

But why limit the holiday to one month? For less than the price of a coffee, you could buy a house in Italy.

Mussomeli, a town in southern Sicily, is selling hundreds of ancient homes for one Euro or less online as the local government attempts to revitalise the area.

UNSPECIFIED - CIRCA 2002: The Manfredonico Chiaramontano Castle of Mussomeli, Sicily. Italy, 14th century. (Photo by DeAgostini/Getty Images)

Many of Italy’s smaller villages are experiencing a mass exodus as residents leave the towns for urban areas.

UNSPECIFIED - CIRCA 2002: The Manfredonico Chiaramontano Castle of Mussomeli, Sicily. Italy, 14th century. (Photo by DeAgostini/Getty Images)

For example, fellow-Sicilian town Sambuca is now offering to pay families around the world to move there and rehabilitate the abandoned homes.

UNSPECIFIED - CIRCA 2002: The Manfredonico Chiaramontano Castle of Mussomeli, Sicily. Italy, 14th century. (Photo by DeAgostini/Getty Images)

It means those with a penchant for a project could pick up a property on the ancient streets, as long as they’re willing to renovate their new home.

UNSPECIFIED - CIRCA 2002: The Manfredonico Chiaramontano Castle of Mussomeli, Sicily. Italy, 14th century. (Photo by DeAgostini/Getty Images)

The catch?

Buyers are expected to renovate their homes within a year of purchasing, or they’ll lose the $8,000 security deposit they are required to pay.

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