Ikaalinen sells three apartment buildings for one euro starting price

The city of Ikaalinen is selling three residential buildings with a starting price of one euro each, but has so far received no bids, Yle reports.

Mayor Eeva Viitanen said the sale aims to consolidate the city’s rental housing stock. The buildings, constructed in the 1970s and 1980s, include two apartment blocks and one row house, all located in the city centre. They currently house tenants, and the city hopes new owners would honour existing leases.

Viitanen cited low occupancy rates—around 70%—high debt, and significant renovation needs as reasons for the sale. The one-euro starting price was chosen to avoid setting a floor that might mislead buyers about the properties’ value.

Similar sales have occurred elsewhere in Finland, such as in Kuhmo, where apartments have been sold for one euro or even given away free. Industry experts attribute the trend to long-term decline in housing markets, particularly in areas with population loss and high maintenance costs.

Bids for the Ikaalinen properties can be submitted until 22 June.