Every now and then, news of small Italian cities that are selling houses for €1.
The objective is always the same: rebuild local homes and renew their populations.
In 2020, the city of Taranto, on the coast of Apulia, in southern Italy, became the first city to join an initiative of this magnitude.
Now, it's time to Ripacandida, in the region of Basilicata, also located in the south of the country, promote the revitalization of its historic center, with mansions and palaces for 1 euro – just over R$5.
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In the city, from province of Potenza, which stands out for its medieval style and has only 1.700 inhabitants — in the 1700th century it exceeded five thousand — it is possible to buy historic mansions from the 1800s and XNUMXs, at attractive prices. Among these, the Lioy House, a mansion built around 1089.
The former noble residence of the Palazzo Baffari-Rossi, in which the Ripacandida Civic Art Gallery is located, also deserves to be considered.
According to the regulations, after being restored by the buyer, the palace can be used as a tourist accommodation or commerce. The initiative aims to “contribute to the socio-economic growth of the city”, says the statement.
The conditions and rules for purchase can be read here: Ripacandida Municipality.
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Luck or trap behind houses for sale for 1 euro in Italy
The proposal to buy a house in Italy for just 1 euro is irresistible. But buyers must meet a series of commitments.
As they are historic buildings, renovations must follow strict standards.
Not to mention the demands of the project creators. Most stipulate that the interested party must restructure the property within a pre-agreed period and bear the expenses related to documentation.
If the buyer does not comply with the rules, the house will be returned to the city hall, and a fine will also be applied.
This is where the danger lies. Renovations are not exactly easy or cheap, and the buyer needs to deal with and understand Italian bureaucracy.
