French town is selling house for €1

However there are conditions and buyers will have to spend considerably more on renovations

The house is the second the town has put up for sale for €1
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A French town is selling a two-bedroomed house for €1 and has put out a call for prospective buyers to come and view the property. 

Saint-Amand-Montrond, in the Cher department of central France, is offering the house, which belongs to the town, at the low price to attract new residents and encourage renovations. 

Several towns, notably in Italy and Spain, have made headlines in recent years for selling off vacant homes for €1, often in a bid to attract new residents after suffering from population loss. 

The buyer of the French property, located on a row of houses on a quiet street,  will have to agree to several conditions, including spending considerably more than small change to complete the renovations.

What is the house like? 

The 77 square metre house is spread over two floors and includes a kitchen, living room and toilet on the ground floor and two bedrooms and a bathroom upstairs. Outside, there is a courtyard and 13 metre square garage. 

Any prospective buyer will have to roll up their sleeves – the house has been empty for 12 years and the estimated cost of fixing it up is €127,800, according to the town hall, which has provided a breakdown of expected renovation costs. 

The town will offer “significant subsidies” to the future owner, deputy in charge of urban planning, François Blondieau, told Ouest France.

Who is eligible?

There are several conditions for anyone considering coughing up a euro. 

Buyers must agree to live in the property “permanently, for a minimum period of 10 years” according to the town hall, which stipulates that any applications from people hoping to make the property their second home “will be refused”. 

The buyer will be expected to sign the deeds in January 2025, start work by May 2025 and finish the work no later than July 2028. 

When can I apply? 

Applications to apply to buy the house opened on April 1 and will close on June 15. Some 67 people have already expressed interest, according to BFMTV. 

Prospective buyers can visit the house between May 15 and June 15. The buyer will be chosen by a selection committee in July, and will be approved in September by the town council. 

The sale is the second €1 house to be offered by the town of just over 9,000 people, which has seen its population decrease in recent years. 

In 2022, a similar offer attracted 68 bids and was bought by a family of four. 

What is the town like? 

The town of Saint-Amand-Montrond is located 26 miles south of Bourges and is known for its jewellers and goldsmiths.

Sights include the Church of Saint Amandus, which dates back to the 11th century. 

The town’s population fell from just under 11,000 people in 2009 to around 9,500 in 2020, according to statistics agency INSEE.

Anyone wanting to apply to buy the house can fill out the application form here.