After the success of “houses for 1 euro”, Sicily doubles the price
Advertisements for the sale of “houses for 1 euro” in various cities in Italy have been a great success. Several cities offer properties at a symbolic price to facilitate their renovation or avoid depopulation.
Now the city of Sambuca, in Sicily, Italy, took advantage of the marketing ploy and moved to “phase B”, “a kind of leap forward”, according to the website Idealistic.
The offer includes 15 properties in the area. Mayor Giuseppe Caccioppo said that it is an “area with beautiful landscapes”, around 18 kilometers from the sea and close to two airports and the provincial capital, among other cities, “not to mention the wines and excellent cuisine that the region offers.”
"Let's reproduce what we did with the first ad”, said the administrator, referring to the purchase conditions that imply a deposit of 5 thousand euros, when interest is presented, and a mandatory investment in property renovation, which must be carried out within the first 3 years.
The requirements did not prevent the municipality from receiving, between 2018 and 2019, around 110 thousand calls from interested parties with just 15 households within the program.
In phase A of the project in Sambuca, all buyers were foreigners.
The municipality is waiting for the moment when it will be possible to travel freely by Europe and also by the United States to make this new phase public.
The announcement was delayed for several months due to the Covid-19 pandemic.
The municipal sale does not create obstacles and only attracts more customers to the open real estate market, where apartments and houses in Sambuca are offered without special conditions for their renovation, for a very different price, which normally ranges between 50 thousand and half a million euros.
Opened the way
After the success of the project in Sambuca, several Italian cities took similar initiatives. It is the case that Musselburgh, located in the Sicily region, just a few hours from Naples. Initially, one hundred homes were put up for sale, but it was estimated that another 400 would be added to the program.
Also in the south of Italy, in one of the municipalities in the Campania, 15 abandoned houses were put up for sale. The conditions of the program stipulated for Zungoli were the same, except for the value of the deposit, which was reduced by half (two thousand euros).
But there are still other types of proposals to attract inhabitants. Molise offered 700 euros per month for three years for anyone moving to a village. The chosen city could not exceed two thousand inhabitants and the newcomer would have to commit to opening a business.
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