This Italian monastery is on sale for just €1

In the habit of bagging a bargain? This historic property is a real steal

Looking for a bargain? This historic property is a real steal.

If you thought news of Sardinia's €1 homes was too good to be true, how about this – you can now get your hands on an actual monastery for the same sum!

Filanda del Casone is nestled in the beautiful Italian town of Modigliana, about 50 kilometres southeast of Bologna. Once a spectacular Dominican monastery, the building now lies derelict and is in urgent need of restoration.

In a desperate bid to save the Filanda, the local council has decided to offer it to the market for the impossibly cheap price of €1, on the condition that the new owner undertakes the necessary renovation works.

With 54 UNESCO world heritage sites in Italy, the country has its work cut out to fund maintenance of all its important historical buildings, and sadly many are falling into disrepair.

Cristina Rossi, Director of Public Works for Modigliana Council, hopes the sale of the former monastery will promote conservation of the area’s heritage. "The Filanda has such a rich history," she explained. "It would be tragic to see it fall into decay."

Its history is indeed fascinating, dating all the way back to 1823 when the structure was built as one of Italy's first steam-powered silk mills.

Over the years, it was passed down through various families before a noblewoman brought the house and donated it to the order of Dominican monks. Today, the Filanda consists of three stone buildings and an impressive 1.3 acres of land.

Sale of the heritage site naturally comes with the responsibility of restoring the building, which could involve significant costs ­– something that should be easier to swallow thanks to the small asking price.

Currently, the council is open-minded about potential uses for the property, with both residential and commercial plans being considered.

So if you’ve ever fancied packing your bags and setting up a rural bed and breakfast in the beautiful Italian countryside, this could be the opportunity for you!

Modigliana itself is an idyllic spot, with rolling green countryside as far as the eye can see. 

Easily accessible and just a scenic hour’s train ride from Florence, there’s a lot to be said for this seemingly unbelievable real estate offer.

Interested? The monastery is being sold through Real Point Italy.

READ MORE: Incredible homes for next to nothing (but they come with a catch)

All images: Real Point Italy