Looking for a change of scenery? Well, for some pocket change, you can now own a home on southern Italy’s gorgeous island of Sicily.
CNN reports that Sambuca, a hilly village with nearby beaches, has listed dozens of homes on market. The cost of these homes? 1 euro, or just over a dollar.
The goal of the real estate fire sale is to revive a town that’s become severely underpopulated in recent years due to prior residents leaving Sambuca for larger European cities. By luring new residents to the quaint village, officials are also hoping to boost the town’s economy.
Of course, there is a catch: One euro is the actual sale price, but buyers are also required to commit to spending a minimum of 15,000 euros (around $17,200) in order to renovate the home. The crumbling houses range from 40 to 150 square meters, and if you buy one, it needs to be renovated within three years. You’ll also need to have a 5,000 euro security deposit on hand that will be refunded once the renovation is finished.
Sambuca isn’t the first Italian town to sell off crumbling dwellings at rock-bottom prices. Ollolai, a town on Sardinia, made the news in January 2018, when the mayor announced their intention to sell 200 homes for 1 euro apiece. But Sambuca’s deputy mayor says they’ll be handling the sales differently.
“As opposed to other towns that have merely done this for propaganda, this city hall owns all 1 euro houses on sale,” Giuseppe Cacioppo, the town’s deputy mayor and tourist councilor, told CNN. “We’re not intermediaries who liaise between old and new owners. You want that house, you’ll get it in no time.”
And Sambuca certainly sounds like an amazing place to own a home.
“Sambuca is known as the City of Splendor,” he said. “This fertile patch of land is dubbed the Earthly Paradise. We’re located inside a natural reserve, packed with history. Gorgeous beaches, woods and mountains surround us. It’s silent and peaceful, an idyllic retreat for a detox stay.”
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