Do you know about the 1 euro houses in Italy? It is true, though. Italy is providing cheap homes. Right now, a property costs just one euro to purchase in Italy.
Why do homes in Italy cost merely one euro?
You have likely heard about the recent sale of hundreds of properties in Italy for pennies. Last year, even castles were being sold off for practically nothing!
Don’t you think that it appears to be unreal? There’s some false news going around.
We’ll address the question of whether it’s a scam in a moment, but is it fake? Absolutely not. This is true.
One Euro Houses in Italy
The main cause is the country’s rapidly declining population. Italians always had more children than other Europeans, however, now they have the least birth-rate. Or the aged people may find they have no one to visit them outside of their houses. They have already relocated to other places with bigger opportunities, so their children don’t want them.
Selling off surplus properties can relieve a lot of debt because owning a home involves paying taxes. Many towns have been forced to think of new ways to use the “extra” houses that are usually donated to city hall.
Mayors are already struggling to refill their declining populations, so they’ve thought of a clever method to achieve two activities in one go: with the long-term objective of revitalizing life and tourism in these areas, selling the properties for dirt cheap to anyone willing to renovate them.
The idea to sell houses that had been abandoned since the earthquake of 1968 to anyone who’d agree to remodel them only for one euro gave rise to the craze a decade earlier in Salemi, a small town in Sicily. The Salemi plan ultimately failed for a variety of reasons, including the structures being not earthquake-proof and the properties being seized due to mafia involvement. But it acted as fuel for other towns to start very successful initiatives of a similar type; by 2016, Gangi, a neighbouring town, had sold 100 properties.
Naturally, this news has gained ample attention in the worldwide media.
So, let’s learn how it all works.
How Do I Purchase a One Euro House in Italy?
To purchase a home in Italy, you must submit an application. Applications are available on the websites of each municipality.
It needs to be noted that the applications including all the information are in Italian, however, you may do some initial research by searching up some of the designated locations online, such as Patrica, Lecce di Marsi in the Abruzzo province, and also the Tuscan counties of Fabbriche di Vergemoli as well as Montieri.
On the magnificent island of Sardinia, in a place called Ollolai, properties are now being given away. Also recently, the Sicilian town of Sambuca made public a proposal, and the mayor was taken aback by the overwhelming support after his offer went viral and the town began to receive requests.
The Bottom Line
You can take a road trip throughout the country while keeping a close eye out for 1 euro houses in Italy for sale in the beautiful locations you stop at. From behind those famous Italian green doors, listings can be seen all over the place.
If you believe we can help you make your Italian dream come true, just note that we’re a travel agency, not a real estate firm.
As a result of how amazing it is, we’re merely doing our part to share the good news. However, we are not the people you should turn to if you want to buy an Italian house at this absurdly low price. We’ll let the experts handle that.
Post a comment! Have you ever considered purchasing real estate abroad? Which place would you buy it if you could?