1 euro houses might get all the attention, but auctions are a great route to take
Cheap properties are up for auction all over Italy
Cheap properties are up for auction all over Italy idealista

There was a time that abandoned, run-down, and dilapidated properties garnered almost no attention from real-estate agencies. There was little to no interest in these kinds of properties and so no need to pay much attention to them. However, since the 1 euro houses project has swept across Italy, this has begun to change: the project has shown that people are clearly attracted by these cheap properties, even if they are in need of a lot of renovation work. Real estate agencies have also begun to wake up to this section of the market. So if you are looking for cheap property, what are your options?

Are there other options to 1 euro houses

The 1 euro houses, of course, tend to be sold for very low prices. Sometimes it is only 1 euro, though it can be up to a few thousand, but either way, they are incredibly discounted properties. Sure, they might be abandoned, and they almost always need to be renovated extensively, but both property owners and municipal governments are taking note of the interest in this kind of investment opportunity.

But while the 1 euro houses are eye catching and attention grabbing, they are not the only option if you are looking to buy cheap real-estate in Italy. Often overlooked as an route to buy cheap properties, are auctions. In Italy, right now, there are many properties up for auction that offer an incredible investment opportunity outside of the 1 euro homes project. These properties are often under 50,000 euros, and can have starting prices as low 10 or 15 thousand euros. The name might not be as eye-catching, but these prices are similar to the true prices of many of the 1 euro houses.

Why do properties go up for auction?

Properties that go up for auction in Italy generally do so for one of three reasons: it is owned by a citizen who is unable to pay his debts; it is owned by a company that has declared bankruptcy; or it is owned by a public body or by the Italian State which is obliged to sell the property through a public auction. Regardless, these are properties that the seller is eager to get off their hands, and are often great value for money. 

Why buy a house at auction?

Of course the process of buying property at auction has its benifits and its disadvantages, but it is incredibly safe, and is a relatively straightforward way of getting a great bargain. But why are they a better option than 1 euro houses? Well, it goes back to the old real-estate truism: what matters is location, location, location. By virtue of the fact that most 1 euro house initiatives aim to regenerate regions that are declining in the modern world, they tend to be in small villages and rural areas. And while there certainly are properties for auction in small villages, there are also properties in the bigger cities like Rome, Milan, and Palermo as well. The chance to buy property in these locations, for as little as a few thousand euros in some cases, is not an opportunity to be missed. 

If you are looking for a real-estate investment, or simply a cheap home in a good location, property auctions may well be the best route to getting your hands on one. 

Where to find cheap properties up for auction

At idealista, we have compiled 1500 listings of properties at auction for less than 50,000 . All properties have an elevator and are in good condition.

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