Buying a home is everyone’s dream, but not everyone can buy a home.
The “1 euro houses” project comes to our rescue: the initiative, conceived way back in 2008, over the years has gained more and more momentum and allows you to buy a property in the most distinctive and flashy Italian villages and thus realize your dream.
Let’s see together how it works and how to buy houses for 1 euro in Italy’s most beautiful villages.
1 euro houses in Italy’s most beautiful villages: is it really possible?
Our Italy, Bel Paese par excellence, is rich in natural and artistic beauty that makes it one of the most visited countries in the world.
In recent years we have witnessed the rediscovery – by tourism (first elite and then mass tourism) – of small villages, that is, of small provincial realities that, perched perhaps on a hill or lace to a mountain or even overlooking the sea, represented for years the Italy of traditions until almost completely disappearing, depopulated, with the advent of progress and new technologies.
The new tourist routes now make it possible to savor the characteristics of small villages, almost as if they were wonderful and precious caskets in which to immerse oneself and be enchanted by ancient traditions and delicious food, all seasoned with that serene and relaxed atmosphere that cities can no longer guarantee.
How many of us, visiting one of these places, have not imagined our lives there?
It would seem like just a dream, difficult if not impossible to realize, but… Let’s try rummaging through our pockets, or wallet, or purse, and, almost certainly we will find some coins.
And here that dream can become a reality: we will only need a 1 euro coin to buy a house and become the owner of a property in one of the oldest villages in the Italian territory.
There is no trick and no deception: it is, in fact, an initiative carried out by many Italian municipalities and aimed at counteracting the depopulation of the villages of the Bel Paese, namely those special places where you can get lost in the lonely alleys remaining fascinated and enraptured in front of squares and ancient churches.
Unparalleled artistic beauties that, unfortunately, are not, however, able to stop, precisely, the depopulation that these places are forced to suffer, mainly due to the lack of jobs.
In the hope of coping with the abandonment of small towns, the impoverishment of the territory and with the idea of revitalizing the local economy, for some time now, small towns that are dying out and destined to die are thus being repopulated and restored to their former glory, giving new life to the homes – now deserted and semi-deserted in the historic centers and beyond.
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- How to buy 1 Euro Houses in Italy?
- How to find available 1 Euro Houses in Italy?
- How to plan for the purchase and renovation?
1 euro houses: what are they
Numerous Italian municipalities, as mentioned, have joined the “1 euro houses” initiative, offering potential buyers various housing solutions at the symbolic cost of only 1 euro.
The pandemic has also played a significant role in the forward thrust of such a project; there are many, in fact, who, having to carry out their work in smart working mode, have intended to build a more human-scale lifestyle than living in the city, and in this sense, the 1 euro house project has been the most suitable lever, as moving to a small town can become very convenient in several respects.
Of course, interested buyers are aware that the purchase is necessarily conditional on the restoration and renovation (at their own expenses) of the property being sold.
A curiosity: the first Italian municipality to launch the ” 1 euro houses” project was Salemi, a village of about 10 thousand inhabitants, among the most beautiful in Italy, in the province of Trapani.
This was followed by initiatives in Lecce nei Marsi, in the heart of the Abruzzo National Park; Ollolai, a Sardinian village of just over a thousand souls 45 kilometers from Nuoro; and Regalbuto in Sicily, 9 thousand inhabitants at the foot of Mount Etna.
How the 1 euro houses project works
The project is aimed at the rehabilitation of very old, if not downright dilapidated and abandoned properties, which the owners give up because they are unable or disinterested in renovation or simply because they live elsewhere.
In such a case, the municipality, once it has obtained the willingness of the respective owners, brings the houses under the appropriate notice making them available to those interested at the symbolic cost of 1 euro, with a commitment, within a time frame ranging from six months to two years, to renovate them at their own expense.
True, however, the regulations vary from municipality to municipality: there are boroughs, in fact, that offer the houses for 1 euro and then there are municipalities, as in the case of Sambuca, that organize an auction.
How much does it cost to renovate 1 euro houses?
Those who decide to join the 1-euro home project must put in the same expenses as those expected, in principle, for a property to be renovated:
- the drafting of a home renovation and revaluation project,
- the notary fees for registration,
- title deeds and land registration.
In addition to this, the buyer must sign a commitment to start work from the time of obtaining all permits, and to renovate the property and set up the renovation project within 2 months of purchasing the property with a local architect.
Among other things, the renovation and work must be done within a specified time, usually around 2 years, and with local service providers.
How to buy €1 houses in Italian villages
The notices concerning the ” 1€ houses” project and verifiable on the websites of the individual municipalities define, from time to time, the requirements and rules provided for the implementation of the project and refer to the provisions approved by the municipal administrations concerned.
Each municipality, in fact, has different rules, whether in reference to the price structure, or the filing system, or the number of architects or lawyers that need to be involved or of the maximum time within which renovation work must be completed to avoid penalties.
However, and in principle, there are a number of basic requirements for accessing the “1 euro houses” project; let’s see together what it is.
How to take part to the initiative
Properties included in the project can be purchased by both private Italian and non-EU citizens, as well as by sole proprietors who have plans to develop and build properties for tourist or hospitality use.
There are no income or asset limits, so everyone can access this initiative.
It is, in addition, necessary to comply with the deadlines set for the renovation (from 6 months to 2 years) and revaluation of the property, and those for the start of the renovation (within 2 months of obtaining the permits).
We think it is also worth mentioning that the renovation of real estate is, to date, the subject of a series of tax breaks: the so-called bonuses.
The 110% (superbonus) and 50% (renovation bonus) can make such an initiative not only positive for the intrinsic motivations of potential buyers and commendable for those expressed by individual municipalities, but also convenient from the economic point of view of the entire community.
In fact, the materials and services needed for the renovation will have to be purchased directly from the local realities (from artisans, masons, carpenters, etc.), so that the economy of the small town will turn entirely around.
1 euro houses in Italy’s most beautiful villages: here’s how to scout them out
Also for 2022, dozens of municipalities have joined the “houses for 1 euro” initiative, specifically:
- Cantiano
- Taranto
- Pettineo
- Albidona
- Pratola Peligna
- Santi Cosma e Damiano
- Calatafimi Segesta
- Pignone
- Caltagirone
- Augusta
- Romana
- Borgomezzavalle
- Cammarata
- Maenza
- Laurenzana
- Pietramelara
- Sassari
- Oyace
- Troina
- Delia
- Sambuca di Sicilia
- Cinquefrondi
- Acerenza
Do you want to take advantage of this opportunity yourself? Don’t hesitate!
Contact us and we will be happy to provide you with all the information and help you need to finally buy your 1 euro house in Italy’s most beautiful villages!
