One Euro Homes: The Boon and Bane of Italian Towns Renewed Through Foreign Investment

Why is the one euro house sale in Italy failing to attract buyers?

In recent years, small towns and districts in Italy that have been emptied of residents due to urbanization have found a solution to their abandoned and neglected houses. These towns offer houses for sale for only one euro, attracting buyers from around the world. However, the cost of renovation required by Italian laws falls on the buyer. Many buyers, especially those in the USA with Italian descent and a connection to the country through tourism, have purchased old houses in charming villages and renovated them into vacation homes or rentals.

The concept of buying a house for one euro has gained popularity in recent years, but it is not without challenges. For example, the village of Patrica, located south of Rome, has struggled to sell abandoned houses for one euro. The current mayor, Lucho Fiordlisso, has been trying to sell dozens of old houses in the village for over a year now but faces challenges in locating descendants of the original owners who have left to immigrate to other countries. Italian law requires permission from descendants to sell the houses, making the process difficult.

While the municipality was able to get consent from some homeowners and market the houses for sale, many interested parties withdrew at the last moment due to family conflicts. Only two houses were sold for one euro each, both to local residents looking to get rid of family assets. Legal barriers have prevented the mayor from selling more houses

In recent years, small towns and districts in Italy that have been emptied of residents due to urbanization have found a solution to their abandoned and neglected houses. These towns offer houses for sale for only one euro, attracting buyers from around the world. However, the cost of renovation required by Italian laws falls on…

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