Nestled among the mountains of the Garfagnana, in an area where shaded forests and remarkable natural resources coexist peacefully with the ancient history of a small village, lies Fabbriche di Vergemoli, which is trying to counter depopulation through the “€1 Houses” initiative. And, it seems, with a fair degree of success.
We spoke with the mayor, Michele Giannini, in April 2024. Here is what he told us.
Mayor, if I come to Fabbriche di Vergemoli, can I really buy a house for the price of a coffee?
Yes, the sale price of the property really is the same as a coffee. Naturally, there are additional costs, such as notary and technical fees, but the house itself is sold for one euro.
Does the buyer have any obligations under the scheme?
Let’s clarify. In Italy, the €1 Houses project takes different forms. In our case, there is no official call for applications. We simply promote the sale of privately owned properties. The houses are not owned by the municipality, so there is no formal tender process. It is a normal private sale between individuals. At one euro.
So where can I find the list of €1 houses? At the town hall?
Yes, also at the town hall. On the municipality’s official website, there is a list of the €1 houses, as well as properties available at higher prices. We are not estate agents and simply provide this showcase. In practice, we do something private individuals could not do: promotion. It benefits the municipality, because a house that is restored does not have to be demolished or secured at public expense.
How long has this opportunity existed in Fabbriche di Vergemoli?
Since 2006. The project has developed over the past ten years, because until 2015 the proposal was aimed mainly at construction companies, which could use it as an investment and work on the buildings when their workers were otherwise idle.
Thanks to the civil service volunteers and online promotion, we recorded a huge demand, especially from Israel, Russia, Brazil and even China.
At that point, we felt it was right for the municipality to promote the initiative and open it to all citizens, not just companies. There is another aspect as well: do you know what the experience with Chinese buyers taught us?
What?
Previously, our €1 Houses proposal was linked mainly to our local area. Now we emphasise that we are close to Lucca, Florence and Pisa, and therefore to their airports. For a tourist, an hour and a half’s drive is nothing. Buying a house here, immersed in beautiful nature, is also far more economically sustainable than purchasing in Florence, Pisa or Lucca. That is the key point.
Reading online, I saw references to the unspoilt nature of your area, the value of silence and the chance to rest. Yet you also highlight proximity to major art cities…
Absolutely. Distances have effectively shortened. It is wonderful to come here to recharge, but it is also useful to know that art cities and airports are relatively close by. People are increasingly accustomed to short journeys. I lived in Milan, and it used to take me an hour to get from home to work, which is the same time it takes to reach an airport from Fabbriche di Vergemoli.
How many people have arrived over time? How many houses have been renovated? And can one speak of a small foreign community?
Overall, around one hundred houses have been purchased through this project. I should add that not all were sold for one euro. It often happened that foreigners who came to view €1 properties instead chose to spend one thousand or five thousand euros on buildings in better condition.
In many cases, the houses sold for one euro are ruins that are worth little more than the building land.
In any case, we have seen the birth of a genuine foreign community. There is already a strong Brazilian presence, several dozen residents who have moved here at different times since 2015–2016. Considering that we have 700 inhabitants, the impact is significant. And we are still at the beginning of the project, as many houses are yet to be renovated.
Has there been an acceleration in sales recently?
Certainly after Covid.
People chose to invest in our area also for reasons of health security and services.
Some reasoned: why not have a second home in Italy, where services are generally better, and healthcare is available to everyone? There is also the aspect of oriundi, Italians returning to their roots.
What has been the economic impact on the area, for example in terms of work for local businesses?
The economic return has been around two million euros, all resources that arrived in Italy from abroad
Thanks to the €1 houses, there was also the purchase of a €200,000 villa and a building worth €800,000, which will now be divided into ten apartments. Then there are taxes paid to the state, notarial deeds, surveyors’ fees. There is also the wider knock-on effect for maintenance work, landscaping and construction companies. These are significant figures.
All thanks to the €1 Houses. The real value of the project lies in the global visibility it has given this area at no cost. Did you know we were even mentioned in a film?
I didn’t know that
They sent it to me a little while ago. An American film whose name, frankly, I can't tell you right now: during a poker game scene, one of the actors says to another: "Did you know that in Tuscany you can buy a house with one euro?" In Bolivia, they were doing an Italian proficiency test at the Consulate, and there wa
It was sent to me recently. An American film, though I cannot recall the name. During a poker scene, one actor says to another: “Did you know that in Tuscany you can buy a house for one euro?” In Bolivia, at the Italian consulate, there was even a question about the €1 Houses in Fabbriche di Vergemoli in a language test.
Is it true that you gave the ‘key to the village’ to children?
Yes, that’s true. There are now around thirty of them, many having arrived from abroad. Three or four came just from Brazil, for example. It is a very important number, allowing us to keep the local school open. The idea is to connect them to this area and make them feel part of the community.
You are not just buying bricks or land, you are becoming part of a community: that is the added value of the project.
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