Grab your own piece of Italy

London: Fancy owning an island off the coast of Venice or Sardinia?

If money is no object, one could soon be yours as the Italian government is to sell off hundreds of treasures to reduce its national debt. About 9,000 buildings, palaces, beaches, islands and forts with an estimated value of more than £3 billion (Dh16 billion) are among the items that will become available at the end of this month.

Italy's growing debt stands at £1.18 trillion.

Among the most expensive and picturesque assets on sale is the Caprera island chain, part of the La Maddelana archipelago off the north-east coast of Sardinia.

Also on offer will be islands in the lagoon off the coast of Venice. In Rome, historical buildings will be on sale. It is not clear if the objects inside will also be available.

The Agenzia del Demanio, the government agency that controls the "national treasures", will first offer them to local and regional councils which can then sell them over the internet. However, the plan has come under fire from environmentalists and opposition MPs.

Stefano Delpieri, of Friends of the Earth in Sardinia, said: "This is madness. These places are all protected areas and if they are sold off there will be development on them."