Italy’s €1 houses – who can buy one and how does it work?

With property prices in Ireland being prohibitive for many first-time buyers, the idea of ​​snagging an Italian casa for €1 is exhilarating.

Several small Italian towns have made headlines in recent years for selling vacant houses for as little as €1 each.

But how does the program work and who is eligible to snag one of these cheap villas in the sun?

Why is Italy selling houses for €1?

As young Italians increasingly migrate to the city, preferring cosmopolitan jobs to rural and municipal occupations, many of Italy’s prettiest remote villages are being abandoned, with tiny, aging populations beginning to die.

Some older Italians have no one to leave their house to and have instead bequeathed it to local authorities, who must decide what to do with it, while some younger citizens have inherited properties in areas they do not want to move to.

Having a second home in Italy means paying taxes, so selling these unused homes cheaply can be more lucrative than keeping them.

That’s why around 25 Italian municipalities are making potential homeowners an offer they can’t refuse – a house for the symbolic price of 1 euro.

The idea is that improving and occupying these homes over the next few years is worth more to cities than selling them at full price.

“We don’t need any new buildings or new superstructures. The strategy to improve the living environment and recover our cultural identity is to revitalize the small abandoned centers or to redevelop abandoned buildings with a story that is our story,” read a statement from the 1eurohouses.com team.

Local authorities in areas like Emilia-Romagna, Abruzzo and Campania are also hoping that an influx of new homeowners will boost the economy as they buy local produce, employ local builders, pour money into local venues and attractions, and even stimulate tourism boost their creation boutique hotels or B&Bs.

What’s the catch?

You’re not buying a brand new villa – the homes selected for the program are often dilapidated and require major structural improvements. You invest in a fixer-upper and do not purchase a ready-to-move-in home.

However, the renovation costs are still relatively low compared to other countries, ranging from 20,000 to 50,000 euros depending on the size of the property.

While most houses are modest village houses or cottages, some stately homes are also being sold at a much higher price. Vendors at this former convent outside of Bologna estimate that necessary renovations could cost €1.5million.

Legal fees for buying a home abroad can be as high as €3,000, and some municipalities also charge a “guarantee fee” (€1,000 to €10,000 depending on the city and the cost of the renovation project) to prove you are committed to improving the property.

On the plus side, Italy offers a “superbonus” tax exemption for buyers that covers 110 percent of qualifying construction expenses.

You also won’t be able to make vague promises to renovate your new pad at some point in the future – new owners must submit details of a renovation project within two to 12 months of purchase (depending on location) and within two Months of work start a year and complete it within the next three.

It is also remarkable that not every property is sold for just one euro. Popular houses have become the subject of a bidding war, with several costing 5,000 or even 20,000 euros.

So this is a program for people who have saved something beyond the initial euro.

Who can buy a house for €1?

“Is it true or is it a joke?” reads a section of the case1euro.it website, which lists €1 properties currently for sale in Mussomeli, 60 miles south of Palermo, Sicily.

It is no joke. Rules vary from city to city, but in the case of Mussomeli, buyers must have the financial and practical means to:

• Support of all expenses related to the drafting of sales contracts (notary, registration, transfer)
• Prepare a property renovation project within one year of purchase and obtain all necessary permits
• Start of work within two months of the issuance of the building permit
• Completion of the work within three years
• Leave a €5,000 “guarantee” deposit that you lose if the work is not completed within three years

In Mussomeli you can do what you want with the interior of the property, but the facade must look as it originally was.

The fine print goes on to say that you are entitled to renovate the property yourself or with the labor of your choice.

This is the path taken by French buyer Morgane Guihot and her husband to CNN in 2019: “Being both handymen and renovators we did most of the work ourselves which was minimal and it was great to see our two bedroom home come alive again.”

Most cities that have set up a $1 home program have similar financial requirements – you’ll need to check the specific requirements of the city you plan to shop in. Some require you to live in the house after renovation, while others allow you to buy to use as a holiday home or as a small business like a B&B.

Buyers who are not Italian residents or who do not speak Italian can face further hurdles when it comes to organizing the work and being able to use their property.

I’m still interested. how to start

You can find houses for sale for €1 on websites such as 1eurohouses.com, case1euro.it and property-in-sicily.estate, as well as on individual local authority websites such as the Comune of Sambuca or Citta de Troina in Sicily.

Auctions2Italy also lists some €2 properties in the country and Europe.properties has case studies and How We Did It guides.

American buyer Rubia Daniels, who bought and renovated a €1 house in Sicily, told Travel + Leisure that personally viewing and viewing potential homes is a must; as well as examining the foundations and the condition of the walls.

“By no means try to do it online — you have to be there to see it and experience the process to make sure you’re making an conscious decision,” Daniels said. “I wouldn’t do anything over the internet.”

“You don’t want to get anything where the walls are buckled because that indicates a foundation problem,” she advises.

Areas with 1 euro house programs

Emilia Romagna

The part of northern Italy around Bologna has houses for sale in towns like leafy Modigliana (where you can buy the aforementioned ruined monastery) dotted with ancient ruins.

Abruzzo

The region hugs the coast east of Rome. Towns giving away their vacant homes include Casoli, Santo Stefano di Sessanio and Pratola Peligna.

Campania

The dramatic, volcanic stretch of coast around Naples, close to Pompeii and the Amalfi Coast, offers some €1 properties for sale in places like the almost deserted Pietramelara, recently home to just 15 families.

Sicily

Sicily is a hotbed of €1 home programs. As well as sleepy Mussomeli, the towns of Calatafimi Segesta, Augusta, Sambuca and Caltagirone are selling unwanted or unclaimed homes.

Piedmont

This northern region near Switzerland offers homes in towns such as Borgomezzavalle and Albugnano, close to well known wine producing areas and the unspoilt, forested Antrona Valley.

The brands

The medieval town of Cantiano – a 40-minute drive from the sea – offers €1 houses for sale near white-shingle Adriatic beaches and truffle-hunting spots.

Liguria

Triora and Pignone are two of the areas in this region famous for the colorful fishing villages of the Cinque Terre, as well as pesto and foccacia.

Puglia

With a population of 195,024, Tarento, the provincial capital of Puglia, is one of the first major cities to launch a €1 case scheme to expose shoppers to its maritime history and great seafood.

Sardinia

Located in the province of Sassari outside Alghero, the towns of Romana and Nulvi have both joined the plan to sell houses for €1.

Tuscany

Montieri, Grosseto, Lucca and Vergemoli are some of the participating towns in Italy’s sacred wine and villa paradise.

Abruzzo

The region hugs the coast east of Rome. Towns giving away their vacant homes include Casoli, Santo Stefano di Sessanio and Pratola Peligna.

Campania

The dramatic, volcanic stretch of coast around Naples, close to Pompeii and the Amalfi Coast, offers some €1 properties for sale in places like the almost deserted Pietramelara, recently home to just 15 families.

Sicily

Sicily is a hotbed of €1 home programs. As well as sleepy Mussomeli, the towns of Calatafimi Segesta, Augusta, Sambuca and Caltagirone are selling unwanted or unclaimed homes.

Piedmont

This northern region near Switzerland offers homes in towns such as Borgomezzavalle and Albugnano, close to well known wine producing areas and the unspoilt, forested Antrona Valley.

The brands

The medieval town of Cantiano – a 40-minute drive from the sea – offers €1 houses for sale near white-shingle Adriatic beaches and truffle-hunting spots.

Liguria

Triora and Pignone are two of the areas in this region famous for the colorful fishing villages of the Cinque Terre, as well as pesto and foccacia.

Puglia

With a population of over 195,000, Tarento, the provincial capital of Puglia, is one of the first major cities to launch a €1 homes scheme to expose shoppers to its maritime history and great seafood.

Sardinia

Located in the province of Sassari outside Alghero, the towns of Romana and Nulvi have both joined the plan to sell houses for €1.

Tuscany

Montieri, Grosseto, Lucca and Vergemoli are some of the participating towns in Italy’s sacred wine and villa paradise.

NB: This article has been updated since it was originally published.