Last summer, there was talk in Italy in the municipality of Sambuca, Sicily of 2 euro homes after the success of 1 euro homes in the town. This summer, Italy's newest initiative to repopulate Italian villages is a reality, as Sicilian village of Sambuca has launched its offer of houses for sale for 2 euros. 17 properties located in the historical centre of Sambuca are up for sale for 2 euros, and applications are now open until 5th November 2021.
After the success 1 euro houses for sale in the village, Sambuca in Sicily is back with a new way to repopulate. This time, properties are for sale for the symbolic price of 2 euros. How can you buy one of Italy's 2 euro houses? According to the local council, those who want to participate and buy one of these 2 euro houses must send a sealed envelope including the details of the sender and the wording 'Contiene offerta per l'acquisto di immobile di proprietà comunale' (Contains an offer for the purchase of real estate owned by the municipality) to the Ufficio Protocollo del Comune di Sambuca di Sicilia by 13:00 on 5 November 2021. Those who wish to buy a 2-euro house will also have to pay a deposit, for which the suggested amount must be included with the application. The full application form and details of the properties for sale for 2 euros can be found on the Sambucca website.
Those who are successful in their application for a 2 euro house in Sambucca will be subject to a series of rules and obligations in order to complete the sale. In detail, the successful bidder will have to deposit the sum offered for the deposit within 30 days of being notified. Then, once the deposit has been made, the preliminary sale agreement will be drawn up, specifying the obligations of the successful bidder. On top of this, the successful bidder is obliged to submit the necessary technical documentation for the renovation of the property within 90 days and must complete the renovation of the property within 36 months.
If the sum offered and the technical documentation needed are not submitted, or if the renovation works are not completed within 36 months after the award of the contract, the contract is revoked and the deposit will not be returned.
According to what the deputy mayor, Giuseppe Cacioppo, previously explained to idealista/news, the "1 euro home initiative is important for Italian municipalities, not only from the point of view of the renovation of buildings in the strict sense of the word, but above all for the benefits it brings to the entire community".
In order to acquire the properties that are part of the 2 euro house scheme in the municipality of Sambuca, it is not necessary to be a citizen or resident, and so far, there has been a lot of interest from abroad. These schemes across Italy have been picked up by the international media and has even intrigued several well-known faces. For example, the actress Lorraine Bracco, known for her roles in 'Goodfellas' and 'The Sopranos', decided to make her investment in the small village in the Belice Valley and turned her interest in the initiative into a television miniseries that had quite a following in the United States.