On trips to Italy, you may have spend one euro to enter a bathroom in the train station, a bottle of water is typically more than one euro, a good gelato can be anywhere from two to five, and a classic Aperol Spritz is typically five on a good day. So what’s this we hear about being able to buy a whole house for one euro?
It’s true, houses in Italy are being sold and auctioned for incredibly low prices. You may be wondering why one of the most beautiful countries in the world is asking foreigners to come in and buy property.
Young Italians who grow up in rural surroundings are likely to move to main cities. Italy also struggles with an issue called “brain drain,” in which Italy’s youth leaves the country for educational and professional opportunities elsewhere.
Quaint towns all over Italy are emptying out quickly. For this reason, the remaining populations in these towns are older Italians, who may not have anyone to leave their property to after they die.
In the end, purchasing one of these homes will cost you more than one euro. And the rules for purchasing your dream home vary depending on location. Some are offered up by auction and others are available for a set price. Either way, these locations are highly desirable and you may have to compete to find a home that works for you.
In an interview with Travel and Leisure, Rubia Daniels, a resident of California and a owner of three Sicilian homes in a town called Mussomeli, advised that those genuinely interested should do their research and go in person to ensure they find a home that works for them. To find these homes you can explore websites such as 1eurohouses.com, property-in-sicily.estate, and many similar websites.
Though you may only spend one euro on your Italian dream home officially, you will probably need to dish out a bit more cash once you’ve found the place that’s right for you. You’ll soon disover why these houses are being offered for one euro. Those who have already bought homes have estimated that a basic renovation can start at $20,000. Non-EU citizens will be able to purchase these properties, but they will also be subject to higher taxes.
If this sounds like the perfect way to buy your dream home in Italy, you can start searching Italian towns in many regions, including Sicily, Liguria, Lombardy, Piedmont, Puglia, Calabria, Sardinia and more. Find a map of these locations here.
Featured Image: Pienza, Tuscany, Italy (Photo by DaLiu)
