Summary
A French town is enticing new residents by offering a house for just 1 euro in Saint-Amand-Montrond. The town is close to the historically rich city of Bourges, renowned for its charming half-timbered houses.
The property boasts two bedrooms, a cosy living room, a kitchen, a toilet, a spacious bathroom, a courtyard, and a garage — for €1.
Let’s explore who can buy this house and why it is that affordable.
Several Italian towns have also launched 1 euro house programs in the past years, much like Saint-Amand-Montrond in France. Towns are selling houses for so little to attract more residents and stabilise their populations. Saint-Amand-Montrond, with just over 9,000 inhabitants, aims to draw younger people to the area for this reason.
However, there’s a catch. The house, vacant for 12 years, is far from pristine. The local authorities estimate that renovations will be necessary, costing approximately €128,000. Yet, the town will subsidise the renovation costs, as confirmed by local urban planning delegate François Blondieau in the daily newspaper Ouest-France.
Who is eligible for the France 1 euro house and how to apply?
Applications to purchase the house began on April 1st and will close on June 15th.
Prospective buyers can visit the property from May 15th until the application deadline. Successful applicants are expected to sign the deeds in January 2025 and complete the renovations by July 2028.
Here’s the timeline for purchasing the 1 euro house:
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house viewing by interested candidates — May 15th—June 15th;
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selection committee review — July 2024;
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buyer’s choice validation by Municipal Council — September 2024;
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signature of the deed of sale — January 2025;
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signature of the promise of sale — October 2025;
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start of renovation work — May 2025;
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completion of renovation work — no later than July 2028.
This French property is available only to those who intend to make it their primary and sole residence. Additionally, prospective owners of the Saint-Amand-Montrond property must commit to a 10-year stay and cover some of the renovation costs.
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