What house price do you consider acceptable for yourself? 100,000 €, 50,000 € or 10,000 €? In Italy you will find an offer for every budget. But why take out so many banknotes from it if one €1 coin is enough to buy a house? Are you interested in such a profitable investment? Still would! Rob your piggy bank and read our new material to get a villa in Sicily at an unforgivably low price.
House next to the national park
Troina is a tiny Italian commune. It cannot boast of a large number of inhabitants and important historical sights, but it does not need it. Natural beauty is the main advantage of Troina, for which it is appreciated by locals and tourists. The commune is located at an altitude of 1,120 meters above sea level. Old houses with colorful facades are scattered in the mountainous area. It seems that no other city has managed to so carefully preserve its traditions from the concrete, metal and glass that dominate modern buildings. Completely different materials, technologies and atmosphere reign here.
Sebastiano Venezia, the mayor of Troina, decided to kill two birds with one stone. For a nominal fee of 1 €, he offers anyone who wants to buy a house near Nebrodi Park in order to acquire good housing and contribute to the renovation of the town. During the first months of the program, citizens of the USA, Turkey, Germany, France, England, Belgium, Brazil, Argentina, Peru and many other countries became interested in unusual investment objects. Among them were both individuals and real estate agencies, organizations and entrepreneurs.
Cheese province with a youth focus
The commune of Cammarata is located between Palermo and Agrigento. Such an advantageous neighborhood already increases its attractiveness in the eyes of potential real estate buyers. This is just the beginning of the city's advantages. Its beautiful views and reputation for producing the best Italian cheeses have brought many foreigners here. Having had their fill of delicacies and views, they showed no less interest in the new government program.
The local government has set itself the goal of “rejuvenating the city.” To attract young people to a quiet provincial town, they chose a good incentive. To save for their first home, many people don’t have enough to spend their whole life, so affordable housing for 1€ will help not only make the dreams of the younger generation Z come true, but will also benefit society. You can familiarize yourself with the program in detail on municipal website Cammarata.
Back to the Middle Ages
The tiled roofs of the houses in Castiglione di Sicilia will never cease to amaze with their beauty and history. They have seen much more than many residents of the town, but despite their advanced age, the locals are in no hurry to part with them. The charm of Italy lies in its color, and the color lies in the invariably proud appearance of its medieval streets. There is even a real castle preserved here, where princes and barons once held feasts, and now tourists move from hall to hall with cameras at the ready. The town looks even more beautiful thanks to Mount Etna, on the slope of which it is located.
Like Troina and Cammarata, Castiglione di Sicilia opens its gates to new inhabitants with 1€ in their pocket. Several traditional houses have been put up for sale, which are suitable for both permanent residence and seasonal holidays. The town municipality has posted a complete list of buildings available for purchase on its website.
What are the terms of purchase and what’s the catch
The phrase “free cheese can only be found in a mousetrap”, known since childhood, also holds true in Sicily. No one will just give you a whole house for free use for just 1€. This is not to say that the pitfalls are very scary, but they are still present. In order to obtain all rights to real estate, the buyer must:
- give away the treasured 1€ (obviously);
- prepare a building renovation project and present it to the town municipality;
- draw up a purchase and sale agreement in accordance with the norms accepted in Italy;
- pay associated costs for preparing documentation;
- within two years from the date of purchase, begin repair work.
It is difficult to say how much money will be required to restore the house, but the authorities tentatively estimate the work at €50,000. The restored building can be used both for personal needs and as hotel complex. With the help of such a profitable business, it will be possible to gradually offset costs.
If you don’t like sunny Sicily, we suggest you consider other countries with similar programs.