It could be the setting for a fairytale wedding or an epic party, this fantasy castle in Italy comes at an equally fantastic price.

The Castle Roccascalegna in a tiny Italian town in Abruzzo is for lease to party planners with delusions of grandeur, all for a little over $150.

The venue for once-in-a-lifetime events has become a centrepiece in the town's regeneration campaign. Mayor Domenico Giangiordano is hoping that by offering the upscale property for a cutdown price the castle might become a draw to big spenders who wish to stay somewhere off the beaten track.

A stone staircase is the only way to reach Roccascalegna chapel. Photo / Getty Images
A stone staircase is the only way to reach Roccascalegna chapel. Photo / Getty Images

"It's a real low fee, practically a tip," Giangiordano told CNN Travel from the perch between the Apennine Mountains and the Adriatic Sea. "Our goal isn't to raise cash but to use this unique setting to revamp the local economy by luring an elite clientele who loves tiny, offbeat spots."

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The dramatic clifftop setting has earned it the name Castle of the Sky.

Roccascalegna looks out at the Apennine Mountains. Photo / Andrea Ciarrocchi, Getty Images
Roccascalegna looks out at the Apennine Mountains. Photo / Andrea Ciarrocchi, Getty Images

The almost kilometre square of floorspace includes a chapel for weddings, scenic tower-top views and atmospheric dungeons.

While the castle is an extraordinary centrepiece for the hamlet, Roccascalegna is far from the usual Italian tourist trail.

Castle of the Sky: Roccascalegna is now a sleepy hamlet, far from the Italian tourist route. Photo / Riccardo Lazzari, Getty Images
Castle of the Sky: Roccascalegna is now a sleepy hamlet, far from the Italian tourist route. Photo / Riccardo Lazzari, Getty Images

Now a sleepy town the valley was previously known as the Valley of Death with the castle being the locals' last line of defence against marauding barbarians and pirates.
Sadly for Giangiordano the invasion of tourists that plagues other parts of Italy is yet to come.

There are a few B&Bs and even fewer bars to keep visitors. Prospective holiday homes are on the market for a little over €20,000 ($33,000).

However compared to these crumbling farm buildings, the castle is cheap.

Castello di Roccascalegna is perched on a steep limestone cliff. Photo / Getty Images
Castello di Roccascalegna is perched on a steep limestone cliff. Photo / Getty Images

One reason for the bargain price is the lack of transport. It is impossible to reach the castle keep by car, which have to be parked at the town's entrance.

The only way up is via old donkey tracks. Anyone invited to a wedding in the castle would be best advised to bring sensible shoes as one anecdote proves:

"One couple couldn't stop laughing," says Marcello Giangiordano, the castle's keeper who insists he is no relation to the mayor. "The bride was wearing a long silk pink dress and peep-toe stilettos. The groom, barefoot, swept her up in his arms and carried her all the way up to the altar."

Roccascalegna Castle; +39 335 876 7589; castellomedievaleroccascalegna@gmail.com