This Croatian town is selling houses at ₹12. Here is the reason

Legrad municipality's offer has garnered interest from Russia, Ukraine, Turkey, Argentina or Colombia, the mayor of the town said.

A town in northern Croatia is selling its abandoned houses for one kuna which is 11.83 in Indian rupees as the population of the town has been falling steadily, Reuters reported. The town will also pay one for repairing after a house is purchased. However, the unbelievable price does not come without any conditions. The buyers will have to be below the age of 40 and they will have to commit to staying at Legrad, the Croatian town, for at least 15 years, the report said. "We turned into a border town with few transport connections to other places. Since then the population has been gradually falling," said the town's mayor, Ivan Sabolic.

Legrad is near the border with Hungary and has around 2,250 inhabitants. About 70 years ago, the number was double.

Where is the town?

The town is near the border with Hungary and has around 2,250 inhabitants. About 70 years ago, the number was double.

How did its population come down?

Legrad was once the second-biggest population centre in Croatian territory, but then it suffered from the disintegration of the Austro-Hungarian Empire a century ago when new borders left it sidelined, the report said.

So far, the town has been able to sell 17 properties have been sold. Since these houses would require repair works, the municipality says it will pay 25,000 kuna towards any refurbishments needed, and for new residents wishing to buy a privately-owned home, the town will cover 20% of the price or up to 35,000 kuna, the mayor said.

Here are the conditions

Individuals or couples who want to settle in Legrad include that they must be financially solvent and under the age of 40.

They also need to commit to staying at least 15 years.

The town offers employment opportunities in food production, wood processing and metal processing industries.

(With agency inputs)