Bargain or trap? A town in Italy puts houses up for sale for €1
The town of Sant’Elia a Pianisi, in the Molise countryside – a region of Italy known for jokes that claim it doesn’t actually exist, the BBC revealed in 2019 – is the newest locality to put old houses up for sale for one euro or €1.
Eight units have been made available, all in need of renovation.
Despite the bargain for the purchase, the interested party will have to pay a policy whose beneficiary is the city government in the amount of €5,000 that will act as a security deposit.
If the buyer does not comply with all the requirements of the municipality, the money from this deposit will be withheld.
Among the new resident’s obligations are the obligation to finance this document – which will be valid for four years – in a maximum of two months, to start the construction work in a maximum of twelve months from the purchase, and to finish it in up to three years.
The presentation of the renovation project must also be made within six months of signing the contract.
The authorities have announced that they will prioritize the interest of those potential new residents interested in hiring local workers to renovate the property, as well as using regional materials and having planned minimum construction time.
Future owners will also have to pay the normal taxes and fees.
The proposed sale of the houses, which are located in the historic center of Sant’Elia a Pianisi, is intended to prevent the town from becoming a ghost town in the future and also to stimulate the economy.
The municipality is also concerned with the promotion of social and commercial activities around families, as well as the restoration of the safety of old buildings.
In addition to Molise, cities in Sicily, Emilia Romagna, Abruzzo, Campania, and many other regions have already announced similar initiatives with houses at one euro.
With information from UOL
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