You can buy a house in Croatia for just 16 cents (but there’s a catch)

Jun 17, 2021

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Rural population decline is affecting small towns across the world as young people venture away from home, drawn by the bustle and job opportunities found in larger, more metropolitan areas.

As a way to keep its numbers from dipping further, Legrad, a small town in Croatia, is attempting to draw new, young homeowners with the promise of cheap housing, offering abandoned and foreclosed homes for sale for as little as 1 kuna (16 cents), according to Reuters.

New to The Points Guy? Sign up for our daily newsletter.

Legrad, a small town in Croatia, is surrounded by forest. (Photo by Goran Safarek/EyeEm/Getty Images)

The local government is also offering up to $4,000 in assistance to help cover the cost of renovations to the properties, many of which are in considerable disrepair.

To purchase one of the properties and receive the funding, prospective buyers must meet several conditions, which include being younger than 40, financially solvent and willing to stay in the home for at least 15 years.

Legrad’s local government is offering foreclosed and abandoned homes for sale for as little as 16 cents, with stipulations. (Photo by Goran Safarek/EyeEm/Getty Images)

Anyone wishing to purchase a privately owned home in the town and who meets these criteria can ask the local government to subsidize 20% of the cost, up to a maximum of 35,000 kuna (about $5,600).

When Austria-Hungary broke apart in the early part of the 20th century, borders were redrawn, leaving Legrad near the new border between Croatia and Hungary. With fewer than 2,250 residents, the town is now less than half of the size it was just a few decades ago, in terms of population.

Interested parties must be younger than 40, financially solvent and willing to stay for at leat 15 years. Local government assistance is available to help with repairs, as most of the properties are run down. (Photo by Goran Safarek/EyeEm/Getty Images)

Although Reuters reports that there has been interest from people in other countries, the offer is open only to Croats for the time being.

In similar news, the tiny town of Nagoro in Japan has just 27 residents and no children. Instead, there are dolls — nearly 300 of them, handmade by one of the locals.

Meanwhile, Centralia — a town in Pennsylvania that was slowly abandoned as a mine fire burned underneath it for decades, causing sinkholes and release deadly carbon monoxide gas — is now completely empty.

While there are currently no real estate incentives being offered to draw young people back to Nagoro, and Centralia is completely uninhabitable, these are just two more examples of the decline of small municipalities across the globe.

Featured photo by Goran Safarek/EyeEm/Getty Images.

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points


CARD HIGHLIGHTS: 3X points on dining and 2x points on travel, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Regular APR
16.24% - 23.24% Variable
Annual Fee
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.