As countries reopen and travel begins to resume in the wake of the coronavirus pandemic, one small town in Italy called Maenza is selling houses&nbsp;for&nbsp;just one euro (approximately&nbsp;87 rupees).

Although the price is less than what a burger costs, the only catch is that the buyer will have to restore the houses.

Similar to the other towns in Italy with homes on the market for almost nothing, many of Maenza's young people have been moving away to search for jobs, causing a trend of depopulation.

The new homeowners will have to renovate their house within three years. As opposed to other Italian towns that have offered homes for a euro, the town won't require a hefty down payment the buyer must give up if they fail to renovate the home. The town only requires an annual €250 policy insurance fee until work on the home is complete.

If the new homeowners don't revamp the home within the deadline, they're liable €20,000 fine. But the one-euro houses, which once belonged to farmers, shepherds, and artisans, are fairly small,&nbsp;so the three-year timeline seems doable.

Maenza&nbsp;has reported zero coronavirus cases among its residents and is located within a region that has&nbsp;had one of Italy's lowest levels of contagion.

Nationwide, Italy has begun to open borders to visitors after making significant progress in reducing the infection.

Italy has registered 128,795 deaths linked to COVID-19 since its outbreak emerged in February last year, the second-highest toll in Europe after Britain and the eighth-highest in the world. The country has reported 4.49 million cases to date.

(With inputs from agencies)

As countries reopen and travel begins to resume in the wake of the coronavirus pandemic, one small town in Italy called Maenza is selling houses for just one euro (approximately 87 rupees).

As countries reopen and travel begins to resume in the wake of the coronavirus pandemic, one small town in Italy called Maenza is selling houses for just one euro (approximately 87 rupees). Although the price is less than what a burger costs, the only catch is that the buyer will have to restore the houses. Similar to the other towns in Italy with homes on the market for almost nothing, many of Maenza's young people have been moving away to search for jobs, causing a trend of depopulation. The new homeowners will have to renovate their house within three years. As opposed to other Italian towns that have offered homes for a euro, the town won't require a hefty down payment the buyer must give up if they fail to renovate the home. The town only requires an annual €250 policy insurance fee until work on the home is complete. If the new homeowners don't revamp the home within the deadline, they're liable €20,000 fine. But the one-euro houses, which once belonged to farmers, shepherds, and artisans, are fairly small, so the three-year timeline seems doable. Maenza has reported zero coronavirus cases among its residents and is located within a region that has had one of Italy's lowest levels of contagion. Nationwide, Italy has begun to open borders to visitors after making significant progress in reducing the infection. Italy has registered 128,795 deaths linked to COVID-19 since its outbreak emerged in February last year, the second-highest toll in Europe after Britain and the eighth-highest in the world. The country has reported 4.49 million cases to date. (With inputs from agencies)

This Italian town is selling houses for less than a burger's price

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