Aussies eye $1 houses in Italy amid rising cost of living

Due to an aging population and urban migration, some of the world's quaintest towns have an empty-home problem - and they're giving away homes for just €1 to try and solve it. Aussies looking abroad to escape high mortgage rates and the rising cost of living are considering Italy for homeownership - lured in by the country's glut of 1-euro houses.Many of these towns are advertising homes for €1 - or around $1.60 AUD - hoping an influx of new ownership could help jump-start local economies and provide needed tax funds for public services.Under the program, the towns are looking for people to purchase - and renovate - unoccupied and abandoned homes.The town of Ollolai, on the island of Sardinia, for example, is encouraging foreign buyers to "start building your European escape."Foreign buyers are being offered the opportunity to snap up a new home in Italy for the bargain price of 1 euro.Meanwhile, in Penne, Mayor Gilberto Petrucci hopes to revive his "ghost town" of a city by offering a fresh handful of properties to eager expats looking to start a new life just 35 minutes from the coast."There are potentially over 40 empty buildings in town looking for new owners, and they’re all l...