This idyllic village in Italy is looking for new neighbors to join its community – and they are only charging $1.25 per house.

On the island of Sardinia, more and more residents have been leaving the tiny town of Ollolai. Over the course of the last 50 years, the population has dwindled from 2,250 people to 1,300, according to the Independent.

So as a means of preventing the village from turning into a ghost town, the local government is selling the empty houses for $1.25 – less than the price of a cappuccino.

Unfortunately, there is a catch to the sweet deal (of course there is).

Prospective buyers must agree to renovate their newly-bought house within three years of purchasing the real estate, which is estimated to cost about $25,000.

Considering the village's rich history and thriving cultural spirit, $25,000 for a house on a breathtaking Mediterranean island isn't that bad of a deal.

In fact, the village website that originally published the real estate deal has become so inundated with applications, there is now a deadline in place.

Since the amount of offers has exceeded the 200 properties currently available in the village, the page will stop accepting applications one week from now on February 7th. After that, applications will be reviewed in the order that they are submitted.

So hurry while the gettin' is good!

Act Fast: Click To Share With Your Own Friends (Photo by trolvag, CC)