Buying A Holiday Home In Italy - Some small towns in Italy are hoping to revive broken communities, such as Ollolai on the island of Sardinia, Mussomeli and Sambuca in Sicily, having houses sold for less than $1 to restore the villages to their former glory.
While buying a home for just a dollar may seem like a dream, a home is old and has its own set of issues that new owners must deal with. In other words, the house is cheap, but deep
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Zungoli, a small town of 1,000 near the Amalfi Coast and Naples, voted one of the most beautiful towns in Italy in 2015, has a website that helps buyers find the perfect garden or house, making it a home purchase. for the price of a pack of gum.
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Zungoli Mayor Paolo Caruso told CNN that he hired a group of volunteers to "reach redevelopment-friendly construction companies and help buyers."
The website lists basic information about each home and shows exterior pictures, which were previously unavailable to prospective buyers. After finding the house you want, you must renovate it within three years, providing a detailed plan for the renovation work,
"We want to make it easy for new buyers," Caruso said. "My city has improved infrastructure, public LED lighting and good Wi-Fi. Piazzas and sidewalks have been renovated. Quality of life is important."
Want to buy your own Italian home? Check out the items for sale at Zungoli here and click on "Case a €1 in Vendita". A growing number of small towns in Italy are selling their homes for the symbolic price of 1 euro ($1.13) in a bid to revitalize their dwindling population. Most of the houses in the €1 house scheme are fixer-uppers and cost good money to build from scratch. But if you have dreamed of pulling up stakes and your own country house in a community with a relaxed pace of life and good sunlight, this city could be a good place to start.
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In the beautiful village of Santo Stefano di Sessanio in Abruzzo, non-residents between the ages of 18 and 40 can buy an abandoned house for a symbolic €1. The village has only 115 people and wants new residents who agree to live there for at least five years. It is looking for people who can contribute to society by starting a tourism, hospitality or pharmacy business, or by working in an information office, selling food or doing cleaning and maintenance.
Start-ups will receive a monthly grant of up to €8,000 per year for three years, as well as a free grant of up to €20,000 to support their project. The council wants to gradually revive the population and accept only ten applicants (more than 15,000) until November 15, 2020. Stay here to check the 2021 openings.
Castropignano is a small hilltop town overlooking the Biferno river valley, a few kilometers from Campobasso di Molise. The wider area is famous for its pristine beaches, snowy mountains, vineyards and coastal towns, while the ruined medieval town of Castropignano is packed with historic 16th-century sites. A small population of just under 900 people call it home, but the city hopes to attract more with €1 real estate that can be converted into holiday homes, hostels or artisan shops. More here.
Laurenzana is located in the Basilicata region, between Naples and Bari. The city is filled with earth and traditional stone terraces, some of which are part of the €1 scheme. It is a beautiful place with a medieval castle and a church dominating the city and a well-preserved historic center with a labyrinth of alleys. The Appennino Luciano Val D'Agri Lagonegrese National Park is nearby, a great place for hiking and wildlife viewing. Prospective buyers interested in moving to Laurenzana under the scheme must download a home application form, outlining renovation plans and how they can contribute to the town's tourism, trade or craft industries.
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Salemi, distinguished by its medieval charm, has recently joined the association "The most beautiful village in Italy" and is ready to open a new page with new residents. Prospective residents must provide a detailed plan of how they will renovate the property and a deposit of €3,000 is required. People who convert buildings into businesses that help stimulate the local economy, such as hostels, galleries or restaurants, can apply for tax credits. About a dozen houses are auctioned for € 1 and sold to the highest bidder.
Photos of the home will be posted here soon for people to view before applying online for a home they like. Most of them are in the charming historic center of Salemi, with its cobbled streets, family-friendly bars and cafes spilling out into the piazzas. The village is surrounded by olive groves and vineyards and many hiking trails.
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With UK property prices out of reach for many first-time buyers and homeowners dreaming of a second pad in the sun, the idea of picking up a bowl of Italy for 86p is intoxicating.
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Several small Italian towns have made headlines in the past two years for selling empty homes for €1.
But how does the scheme work and who is eligible to build one of these cheap villas in the sun?
As young Italians increasingly move to cities and choose cosmopolitan jobs over rural and community jobs, many of Italy's most beautiful rural villages are being abandoned, along with a small elderly population.
Some elderly Italians find that there is no one to leave their homes and give them to the local authorities, who have to decide what to do with them, while some young residents want to move.
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Owning a second home in Italy means paying taxes, so selling an unused home for less can be more profitable than keeping it.
That is why about 25 Italian municipalities offer prospective homeowners an offer they cannot refuse - a house for the symbolic price of 1 euro.
The idea is that it is more expensive for the city to renovate and own these homes for the next few years than to sell them at full price.
"We do not need new constructions and new additional constructions. Strategies to improve the housing environment and restore our cultural identity - revitalizing abandoned centers or rebuilding buildings in an abandoned state, this is our history," said the statement of the team on 1eurohouses.com .
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Local authorities in regions such as Emilia-Romagna, Abruzzo and Campania also hope the influx of new homeowners will stimulate the economy as they buy local products, hire local construction workers, pay for local attractions and landmarks and even develop tourism. boutique hotels or B&Bs.
You're not buying a shiny new villa - the homes chosen for this scheme are often dilapidated and in need of major structural repairs. You invest in a fixer-upper, not buy a move-in ready home.
However, renovation costs are still relatively low compared to other countries - in the region of €20,000-50,000 depending on the size of the property.
While most of the houses are simple country houses or cottages, there are also some beautiful houses for sale that command hefty price tags. Sellers of this former monastery outside Bologna estimate that major renovations could cost €1.5 million.
Locazione Turistica Casale Della Croce, Montebuono
Legal fees for buying a house abroad can add up to €3,000 on top of that, and some municipalities also ask for a "guarantee fee" (between €1,000 and €10,000 depending on the city and the price of the house). renovation project) to prove that you are committed to improving the property.
On the plus side, Italy offers a "superbonus" tax credit for buyers that covers 110 percent of construction costs.
You can not make vague promises about repairing your new pad in the future - the new owner has two to 12 months (depending on the location) from the date of purchase to provide details about the repair project and start work in one period. a year and completed in the next three years.
It should also be noted that not every property is sold for just one euro. Popular houses have been the subject of several house sales for € 5,000 or even € 20,000.
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