Romantic is, of course, also and above all because almost always they are villages away from the chaos of the great cities, where you still live slowly. But what exactly does it mean buying a house for one euro?
With the boom of the initiative of the Borgo di Penne, in the province of Pescara, where almost 2 thousand requests in a few days were received from the municipality, the negative comments also exploded: It is not still what glitters. Or rather: buying a property at one euro does not mean spending only one euro … there are notary expenses (at your expense, of course) and some constraints imposed.
The question came even more to the surface after the film “The Dolce Villa“(Title that clearly echoes the film of Fellini and expression that has now become a symbol of Italianness), which has captured the imagination of the spectators with a fascinating story that seems to have come out of a fairy tale.
The protagonist, an American, discovers an Italian villa purchased for 1 euro. Such a romantic and seductive proposal as to make anyone dream, but how true is behind? In fact, the idea is not imaginative at all: it is a reality that has taken hold in Italy since 2017 thanks to the “Houses for € 1” project – an initiative that has the aim of revitalizing the small Italian villages being depopulated.
But what does it really mean buying a house for 1 euro? Let’s find out together.
The initiative started from Sicily, in the towns of Mussomeli and Sambuca di Sicilia, and then expanded to other Italian regions. The main objective of the project is to counteract the phenomenon of rural depopulation, which has affected many areas of our country. The plan, therefore, is not only a real estate operation, but a concrete attempt to recover and enhance historical villages that risk disappearing.
How does the purchase of the house work for 1 euro?
The proposal is as tempting as it is complex. The process of purchasing a house for 1 euro is not as simple as it may seem at first sight. In reality, those who decide to participate must face a series of commitments and conditions.
- compulsory renovation: The house purchased for 1 euro, in fact, is almost always in conditions of advanced degradation. Therefore, the new owner is obliged to renovate the property within a certain period of time, generally 3 years, and to comply with specific rules for the renovation, maintaining the historical aspect of the village.
- guarantee deposit: To prevent the houses from finishing in little serious hands, a guarantee deposit is often required which can vary between 2,000 and 5,000 euros, a figure that is returned at the end of the renovation works.
- renovation costs: Although the property has a symbolic price, the real renovation costs can be very high. In some cases, the complete recovery of the house can cost tens of thousands of euros, depending on the state of the property and building regulations.
In addition, some regions such as Sardinia offer contributions for renovations, which can reach up to 15 thousand euros per project, but with fixed rules, such as the obligation of theuse of local craftsmen or the conservation of traditional facades. Municipalities generally impose a minimum annual employment requirement, so much so that the owners are often required to occupy their property for at least 6 months and 1 day a year, while resale or rent are often prohibited for a minimum of 5 years.
An opportunity?
Buying a house for 1 euro can certainly be seen as a unique opportunity for those who dream of living in a small Italian village and has the budget and the will to invest in the recovery of a property. It is not a mere real estate transaction, but a long -term commitment to the community and the territory.
The benefits are manifold: to live in a quiet area, immersed in nature, with the possibility of rediscovering the value of local traditions and giving new life to a village that otherwise would risk becoming a ghost. However, you have to be aware of the risks. The renovation can prove to be more expensive and longer than expected: buying a house for 1 euro in Italy is certainly a dream that can be realized, but it is a dream that must be addressed with pragmatism by evaluating all aspects related to renovation and life in a small village.
