1 euro houses are on the rise in Sicily. After Gangi, Sambuca di Sicilia, Delia, the project has also conquered the village of Troina. The objective of the project in Troina, which recently featured on CNN, is to renovate and inhabit the real estate in the town's historic centre. As explained on the official website, "through the 1 euro home project, uninhabited houses are to be sold at a symbolic price in order to revitalise and repopulate the ancient quarters of the medieval village".
1 euro houses in Sicily: Troina joins the list
As mentioned, and as is the case in many Italian villages selling 1 euro houses in Sicily, the aim of the project is "to recover uninhabited properties in the historic centre, through the symbolic transfer of 1 euro, by the owners, to agencies, companies, cooperatives and private citizens, who are willing to invest in a renovation and valorisation project". The project is part of the town's redevelopment plan launched by the local council to repopulate the ancient medieval quarters of what is one of the most beautiful villages in Italy.
The mayor of Troina, Sebastiano Venezia, said at the time the project was launched: "Over the last few months, many requests to buy property in our historic centre have arrived from all over the world, including the United States, England, Germany, France, Belgium, Turkey, Brazil, Peru, Argentina and the Netherlands, and many potential buyers have already come to visit the Borgo di Troina, with the intention of buying a house to renovate it and to move there at certain times of the year. Therefore, we have decided to set up a project that will allow us to renovate the many unfortunately abandoned properties, repopulating the old uninhabited neighbourhoods and, at the same time, offering a chance to restore the local economy and local workers, who will be involved in the renovation work".
According to the rules of the project, owners who intend to sell their property and potential purchasers must officially notify the municipality, which, "in addition to providing support to both and selecting the proposals received, will ensure that the interests of those involved are respected, preparing the assignment deeds, guaranteeing the legitimacy of the intervention, and providing special facilities, such as tax exemptions and contributions".
The purchasers - private citizens or individual firms, cooperatives, or companies whose corporate purpose includes the management of real estate for tourist and accommodation use - must sign the deed of purchase and bear all the expenses for the drafting of the deed of assignment, prepare a renovation project, begin work within two years from the date of purchase, and sign a security guarantee of 5,000 euros, in favour of the municipality, with a duration of three years, to guarantee the actual completion of the work. The council explains tha "'in the event of default, the municipality will reserve the right to forfeit it and acquire ownership of the property".
In summary, purchasers must:
- execute the deed of purchase and bear all the costs of drafting the deed of transfer;
- prepare a renovation and restoration project
- start work within 2 years from the date of purchase;
- take out a security guarantee of 5,000 euros, in favour of the municipality, with a duration of 3 years.
When the project was first launched the mayor said in an interview with CNN Travel: 'I want to save our old quarter and recover its lost greatness, when it was the Norman capital of Sicily'.
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