If you’re worried that there are no more towns in Italy left selling homes for one euro, or a little over a dollar ($AUD 1.70), don’t be.
There is a town where homes have been quietly sold at the price of a coffee, and it is preparing to offer more real estate soon. What sets this process apart is that it is more favorable for buyers compared to usual practices.
No deposit guarantee is needed as downpayment to secure a dilapidated dwelling. All that’s required is your commitment to restyling it.
Where else to find a one-euro home
Italy is of course arguably the world hub of one-euro homes programs, largely in the south of the country.
Sicily is the focal point for these initiatives, hosting some of the most well-established programs. Among these, Mussomeli stands out, located in the heart of the island. Since the launch of the initiative, the town has welcomed a significant number of foreign residents, including Argentinian medical professionals working in local hospitals. Some individuals have enjoyed their experience so much that they have purchased additional properties in the area.
Across the hills from Mussomeli is Cammarata, where a one-euro sale program is run by young locals who returned home during the pandemic.
Another Sicilian town, Sambuca, is also renowned for its one-euro houses and placed another set on the market last year. Interestingly, even Italians are taking an interest in these opportunities now.
Many potential buyers would be concerned about spoiling Sicilian culture. Here’s how to buy a home responsibly.
And if you’re curious about what happened to buyers once the media spotlight had faded, we’ve spoken to a few here and here.
Meanwhile another one-euro home program can currently be found on another Italian island: Sardinia.
