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Artist buys entire French ghost village of Courbefy

For the price of a single-family home in Toronto, a New York-based artist and photographer from South Korea has purchased an entire abandoned village in central France.

The buyer, known as Ahae, purchased the hamlet of Courbefy for 520,000 Euros ($673,000 CAD), outbidding two others.

The starting price at auction was 333,000 euros ($431,000 CAD).

The sale of Courbefy included its 21 buildings — including the ruins of a 13th century castle and a chapel — a swimming pool, stables and a tennis court.

Ahae's plans for the little village are not yet clear — NewsCore reports that the village will be used for an "environmental, artistic and cultural" project — but Bernard Guilhem, the mayor of neighbouring Saint-Nicolas Courbefy, is confident the purchase will help the area:

"I am reassured that the village has finally be sold and if the (buyer's) project is still unclear, I'm convinced it will recreate life and stimulate the economy. There will be jobs," he said.

Jean-Pierre Chateau, a man residing nearby, told Le Figaro newspaper that it was "heartbreaking" to see Courbefy abandoned. He said that villagers, most of whom were farmers, began moving out in the 1970s. A failed attempt to turn the village into a holiday resort was launched in the'90s and scrapped in 2008. Since then, the place has been overrun by nature, thieves and squatters.

Ahae acquired the ghost hamlet for a steal, considering Buford, Wyoming, sold for $900,00 USD ($920,000 CAD) and contained just a convenience store, gas station and modular home. No 13th century castles included.