Real Estate Steal: Entire Italian Village On Sale for $800,000

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Getty Images / De Agostini Picture Library

Shepherd with flock of sheep in Gran Sasso National Park, Abruzzi, Italy where Valle Piola is located

The latest in European property listings: Valle Piola, a historic Italian village, is now on the market. (via the Telegraph)

For less than $800,000, anyone can buy the entire medieval village that dates back to 1059 and is located 3,000 feet up in the mountains of Gran Sasso National Park. Valle Piola has been deserted for 30 years and anyone wishing to reach it must traverse a dirt road. But the property’s 11 old stone buildings that include a half-ruined 13th century church and two shepherds’ houses provide for a majestic setting.

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The Telegraph reports that the local council and an elderly man who holds partial-ownership decided to put the village on the market due to lack of funds available to restore it and protect it from vandals. This listing’s neighborhood may be a devaluing factor contributing to the low price, as the area has experienced rapid depopulation due to a decline in sheep farming in recent years.

Still, a piece of history for several hundred thousand less than an apartment in Manhattan is arguably a steal.

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