A small town in southern Sicily is making headlines around the world by selling abandoned properties for just $1.60 (or about one Euro). This is happening in the town of Mussomeli, and though this seems like a deal that’s too good to be true, there’s a catch that you might want to think about before you jump on it.

Anyone who purchases one of these homes must agree to renovate it within one year, and if they do not follow through, they lose their security deposit (about $8,000). On top of that, buyers will need to pay administrative fees, which cost between $4,000 to $6,450.

A growing number of small towns across Italy are offering deals like this one as they struggle to keep their residents, who are moving to cities in droves. Mussomeli already has one hundred abandoned homes that are up for sale, and another four hundred are expected to go up for sale in the coming months.

Earlier this year, the nearby town of Sambuca issued a similar offer to buyers, saying that they must agree to pay at least $17,200 to fix up the homes.

“This is great, I’m flabbergasted by the response,” Deputy Mayor Giuseppe Cacioppo said back in January. “I haven’t come up for air since the story appeared.”

“The 1 euro houses email inbox is full, so people have been calling me on my mobile,” he continued. “It hasn’t stopped ringing. I have received something like a thousand phone calls, I hope not to go nuts.”

Perhaps Mussomeli will find the same success that their neighboring town did!