The trail was blazed by hill-towns and villages across the country but now, for the first time, an Italian city is offering its abandoned palazzi for the nominal sum of €1 (85p).

Taranto, in the deep south of Italy, hopes to breathe new life into its picturesque but dilapidated old town, which sits on an island squeezed between a lagoon and the open sea.

It has taken the lead from the dozens of small villages, from Sicily to the Alps, that are attempting to stem the effects of depopulation by flogging off homes for the price of an espresso.

Back in the 19th century the island had a population of around 40,000 but years of neglect mean it has now dipped to less than 3,000.

Prospective buyers will find no shortage of historical attractions in the tightly-packed streets of the historic centre, from an Aragonese castle to a cathedral that dates back to the 10th century.

Nearby there are sandy beaches and a nature reserve that is home to flamingos.