A little piece of Italy for around $7,500 deposit

A home on the side of an Italian Hill in Sicily can be yours for $1.50 plus a $7,500 deposit (refunded after the house is renovated). Gangi is situated on the isle of Sicily which is surrounded by the Mediterranean Sea. The Gangi Council are selling homes in the hope of restoring the 12th century village. There are a few stipulations, you will also be required to renovate the property within five years and pay legal costs.

The project will bring industry to the village as construction workers will be hired to renovate the homes.

Concerns about Mafia activity? Apparently there is no need to worry in this village:

"The Mafia exists, of course, but they are operating at a different level - they are interested in multi-million euro construction projects, not restorations like this," said Ms Wester. "Some people think that if you come here you'll see them walking down the street with guns, but it's not like that."

You can view a video about the project here