As thousands of Brits struggle to find a way to get on to the property ladder it might just be that Italy has the answer as its government is giving away more than 100 castles, ancient towers and monasteries – for free. But there is a catch: you’ll have to be prepared to renovate the buildings and turn them into tourist attractions or hotels for pilgrims, hikers and tourists to drive up visitor numbers and trade. The 103 buildings are in areas well away from the traditional tourist hotspots of Italy. Some 44 of them are found along historic rural walking routes, while the remaining 59 sit on cycle paths. Some sit along the ancient Appian Way, that runs from Rome to Brindisi in the south. Successful applicants will get a nine-year lease on the property with an option for another nine years. Those who really impress with their plans could be offered 50-year leases to recoup their investment. Details of the scheme can be found through Italy’s State Property Agency… just in case you’re interested.
*Source:Mark Dorman,Yahoo Finance UK, Image Courtesy of cnbcnews.com)