Another municipality has joined the list of towns in Italy selling €1 houses. This time it is Farini, in Emilia-Romagna, which has just launched its project to revitalise the social and economic fabric of the area.
To find out more, idealista/news contacted Primino Provini, head of the Urban Planning and Commerce Office of the municipality in the province of Piacenza.
One-euro homes in Farini: the municipality's goals
Recently, the Municipality of Farini approved the measure allowing homes to be purchased for the symbolic price of €1. The properties must be transferred to the municipality by their owners, with the aim of redeveloping, repopulating and making the entire town more economically attractive and functional. The benefit for owners in transferring the property is that they avoid paying taxes and the costs associated with making the building safe.
Primino Provini, who is responsible for the €1 houses initiative in Farini, told idealista/news that “the project has been carefully developed and strongly supported by the municipal administration and, at present, it is receiving many expressions of interest by email and phone, even though the first sale has not yet been finalised”.
The municipality’s role is simply to act as an intermediary between owners and buyers, Provini explains:
“An advertisement is already published on our website, and we are waiting for other owners to transfer their properties so that we can put additional €1 houses up for sale. The goal is to showcase 7–8 properties.”
He also stresses: “Buyers may use the property not only for residential purposes but also for hospitality or commercial activities.”
As noted in a statement by the mayor, there are unused properties in the area, sometimes dilapidated and in poor condition, which weigh on owners due to tax costs, difficulties in selling, and the complex issues linked to routine maintenance.
“These initiatives also help raise awareness of the area and contribute to repopulating the municipality,” underlines Mayor Marco Paganelli, “which currently has around 1,000 residents, encouraging new housing settlements and promoting the entire territory.”
These are disused properties that can be renovated for residential purposes, co-housing or tourism-related use, hospitality or commercial activities. Anyone interested, even if not resident in Farini, including third-sector organisations operating in the community, may complete the expression of interest form and acquire ownership. In return for this advantageous offer, they are obliged to renovate and properly maintain the purchased building.
Who can submit an offer for a €1 house?
As specified by the Municipality of Farini, the following may submit an offer for a €1 house:
- Sole traders, agencies, companies, cooperatives, etc., whose corporate purpose includes the development and management of properties for tourism and hospitality purposes;
- Sole traders, agencies, companies, cooperatives, etc., whose corporate purpose includes the development and sale of properties for residential purposes;
- Private individuals, Italian, EU or non-EU citizens, including in associated form, who are interested in renovating properties for residential and/or tourism use (second home) for their family;
- Craft and/or commercial businesses interested in renovating properties for use as premises for their business activities;
- Cultural, musical, sports associations and other non-profit organisations interested in renovating properties as headquarters for carrying out their statutory activities.
For private individuals, it is sufficient to be an Italian, EU or non-EU citizen.
Other entities must meet the general and specific requirements applicable to their legal form, for example registration with the Chamber of Commerce for purposes consistent with those outlined above, compliance with current social security and tax regulations, not being subject to insolvency proceedings, and possessing statutes or registration in relevant registers (for cooperatives and associations).
What a €1 house buyer commits to
As specified in the project guidelines drafted by the Municipality of Farini, anyone purchasing a €1 house is subject to several commitments. In detail, the buyer must:
- finalise the signing of the purchase contract with the private seller within three months of the municipality’s approval of the allocation documents and any ranking list, unless duly justified extensions are authorised by the municipality, under penalty of losing the benefit;
- prepare and submit to the relevant municipal office the project for renovation, restoration, conservative rehabilitation and/or restructuring and redevelopment of the acquired property, in compliance with current regulations and according to the chosen use, within no more than six months from signing the purchase contract, unless duly justified extensions are authorised by the municipality, under penalty of losing the benefit;
- begin works within no more than three months from the issuance of the building permit or equivalent legal act, and complete them within no more than two years from the start of works, unless duly justified extensions are authorised by the municipality, under penalty of forfeiture of the deposit;
take out a surety bond in favour of the Municipality of Farini for a minimum amount of €5,000, valid for three years and renewable at the municipality’s request in the event of extensions, as a guarantee of the effective implementation of the investment project and related works.
The guarantee must expressly include a waiver of the benefit of prior enforcement against the principal debtor, a waiver of the exception referred to in Article 1957, paragraph 2, of the Civil Code, and must become enforceable within fifteen days upon simple written request by the municipality.
The buyer must acknowledge that, in the event of non-compliance, the municipality will retain the deposit and allocate the sums to carrying out safety works on the façades and roofs of the properties concerned or, if deemed appropriate, acquire them for social, welfare, cultural, recreational or sports purposes, or demolish them to create public spaces and areas.
Explore property for sale in Farini.
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