€1 PROPERTY IN ITALY
All over Italy, municipalities have decided on the following initiative. Various individuals and mayors have begun to sell properties for €1 as a symbol of commitment. This project hopes to promote the recovery of some areas. For many of these €1 properties, the only condition to buy them is to restore the property.
This is done in hopes of rehabilitating various areas hit by natural disasters, poor economic conditions, or which have been abandoned.
This is a great option if you’re looking for a way to purchase in this beautiful country, to give back to the community, and to invest in worthwhile projects.
For more information and specifics about each town, use https://casea1euro.it
The following regions and municipalities have taken part in these projects:
Abruzzo: Lecce nei Marsi, L’Aquila
Tuscany: Fabbriche di Vergemoli, Lucca and Montieri, Grosseto
Piedmont: Carrega Ligure, Alessandria
Lazio: Patricia, Frosinone
Sardinia: Ollolai, Nuoro and Nulvi, Sassari
Sicily: Gangi, Palermo, Regalbuto, Enna and Salemi, Trapani
Below you will find more information about some of these towns.
PROJECTS IN TUSCANY
Two main municipalities in Tuscany have begun to sell properties for €1. The new property owner, however, must complete renovations of the property within 3 years.
Otherwise, ownership of the property is returned to state. The mayor here hopes to save abandoned or destroyed properties in the Montieri area and the Grosseto province.
The Lucca province is home to the town of Fabbriche di Vergemoli. Forming this small village was the combination of Fabbriche di Vallico and Vergemoli with only 800 inhabitants.
However, properties are being renovated and improved here in hopes to increase the village’s population.
PROJECTS IN LAZIO
The most recent municipality to begin one of these projects is in a small town in Lazio. In the province of Frosinone, the village of Patrica has also begun selling properties for €1.
The historic center of the town has begun decreasing its population and many buildings have been abandoned.
In order to prevent conditions worsening in this historic area, the mayor of Patrica decided to try to sell properties for €1 to encourage renovations and investment into the properties and older buildings.
PROJECTS IN SICILY
Various areas of Italy’s largest island have begun to sell properties for €1. The capital province of Sicily, Palermo, is home to one of these places. Ironically, Gangi was Italy’s “most beautiful town” in 2014.
However, similar to Lazio’s Patrica, the historic town center has slowly been abandoned. In hopes to redevelop this area, the union decided to begin this project here in 2015.
They gave away old buildings free of charge with a 3 year renovation agreement, hoping to increase housing and improve touristic buildings and bring more charm, beauty, and revenue to the village.
Also, another village in the Enna area, Regalbuto, began with a similar initiative.
In Sicily, the town of Salemi in the Trapani area began this as well. However, the situation was a bit more complex.
Much of the historical town center was damaged by an earthquake in 1968. So, in 2008, the mayor began a project aiming to sell properties to private individuals, in hopes of consequently renovating and fixing up the area to its former glory. Some buildings were a safety concern and confiscated by the state.
There was also an investigation regarding Mafia involvement and corruption in the police force. However, charges were dropped against the mayor and his board of associates in 2016.