AN ENTIRE MEDIEVAL village in Italy is for sale for the modest price of €550,000 after the local council ran out of money to protect the area and eventually restore it.

The historic village of Valle Piola consists of 11 crumbling stone building including a half-ruined 13th century church and two shepards’ houses, reports The Telegraph.

Located at an altitude of more than 3,000ft in the Apennines mountain range, the village is at the heart of one of the country’s biggest national parks in the central Abruzzo region, which has been severely depopulated by the decline of sheep farming.

The village itself was first mentioned in records back in 1059.

The mayor of nearby Torricella Sicura said that it had been deserted for 30 years and that it would be up to the buyer to come up with a plan to make houses in the village habitable.

Mayor Daniele Palumbi suggested the village could be turned into a set of private homes or a tourist development, adding: “There’s been a lot of interest from potential buyers in Italy, though nothing from abroad so far because it has not been widely publicised.”

What do you think? Has it got potential? Check out the gallery bellow (All pictures via pizzodisevo, Creative Commons)