Buying property in Italy has never been easier or cheaper, thanks to a scheme to sell houses in abandoned villages in Italy for 1 euro. On the paradise island of Sicily in southern Italy, one abandoned village is doing just that, but there’s a catch.
Sambuca is an idyllic little town on a hilltop in the province of Agrigento, Sicily with great views over the Mediterranean Sea. The town’s problem is that many people have been moving away to big cities and it is suffering from depopulation. In a last-ditch effort to boost its population again, this nearly abandoned village has decided to attract investors with 1 euro homes for sale.
There is just one condition you must meet if you buy a house in Italy for 1 euro – you have to promise to invest 15,000 euro over the course of 3 years to refurbish your new house. These properties are suffering from a lack of love and buyers have to commit to doing renovation works to help preserve their valuable Arab heritage. There is also a 5,000 euro security deposit to be paid, which will be returned after the end of the refurbishment.
This is not the only abandoned village to try the same trick of bringing more people to buy property with the promise of houses for sale in Italy for 1 euro. In 2018, several other towns in the country, such as Gangi, Sicily and Ollolai, Sardinia, advertised 1 euro houses for sale but none of them have quite caught the public imagination like Sambuca, which was on the shortlist for 2016 Italy's Most Beautiful Towns contest.
Sambuca’s deputy mayor, Giuseppe Cacioppo, assures potential buyers that they won’t get caught up in red tape, unlike in other abandoned villages in Italy. "As opposed to other towns that have merely done this for propaganda, this city hall owns all 1 euro houses on sale," he told CNN. "We're not intermediaries who liaise between old and new owners. You want that house, you'll get it [in] no time."
So if you’ve been waiting for the perfect chance to buy cheap property in Italy, perhaps 2019 is your lucky year and you should consider one of these 1 euro houses in an abandoned village in Italy for sale.