It's the news that always gets us excited: another Italian village is selling homes for €1, bringing us that little bit closer to la dolce vita.

Since the beginning of 2018, towns and villages across Italy have signed up to the One Euro House scheme, whereby empty houses are put up for auction from €1 in a bid to attract new residents to rural areas suffering from depopulation. The latest village to join the program is Castropignano, a hilltop medieval village in the southern region of Molise — a region known for its pristine beaches, snowcapped mountains, coastal towns, sweeping vineyards and traditional hilltop villages.

What it's really like to buy a €1 Italian home

In a notice issued last month, officials in Castropignano announced they are giving away abandoned homes in the village "free of charge" or for a nominal fee of €1. However, instead of giving a home to the highest bidder, mayor Nicola Scapillati said he wants to match potential buyers with a property that suits their interests.

"I welcome anyone who would like to purchase a new home here to email me directly with a detailed plan of how they intend to restyle and what they would like to do with the property – make it a home, B&B, store or artisan shop," Scapillati told CNN, adding: "They should also list any requirements they may have, like access for people in wheelchairs. The village is tiny and cars can’t navigate the narrow alleys and steps."

Lago di Castel San Vincenzo
Scenic spots like Lago di Castel San Vincenzo are just an hour away ©Getty Images

"We've got nothing grand to offer except peacefulness, silence, pristine nature, oxygen-rich air, great views and fantastic food, ideal to detox from the daily stress," he added.

The homes on offer are run-down buildings in need of major renovations. Whoever buys a house has to sign a policy of €2000 ($2378, £1794) with a two-year guarantee. If all goes well, that money will be refunded at the end of the renovation term. To apply, email to express your interest, and share your plans for your Italian home.

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