Tourists were able to buy real estate in Italy for only 1 euro – yes, just a few hundred houses for sale at this price put up the Italian town of Pratola Pelina, in the Abruzzo region, located in the Apennine Mountains, near some of the best ski resorts in Italy.
The official reason, according to local authorities, is the reduction in population, which led to the sale of cheap real estate in the hope that people will move there to repair it. In the 1930s, the city had a population of 13,000, and in recent years their number has dropped to 7,000. Local council member Paolo Di Bacca commented on CNN Travel: “We have been working on this for many years, identifying the appropriate homes. Our goal is to make them shine again and restore the beauty of the old center, even if it may take some time. ”
In total, more than 250 houses are for sale. Houses of different sizes and, more importantly, different condition, some of them require very serious repairs. At the same time, local authorities claim that their rules for purchasing real estate are different from other regions, as they do not require collateral from buyers. At the cost of a house of 1 euro, the deposit reaches 5 thousand euros, in order for the owners to repair them, and the owner who receives the property also risked a fine of 10 thousand euros, if construction plans were not submitted within the first six months.
“Strict rules are the worst-case scenario that avoids people buying real estate just to disappear. In particular, with foreigners, when tracking them around the world and forcing them to complete repairs becomes impossible. This time we want to avoid it, “said Mayor Antonella Di Nino.
According to tourists, those who “bought” cheap houses, this property is not cheap. According to businesswoman Rubia Daniels, who previously took advantage of a similar fantastic offer in Mussomel, Sicily, and bought three houses for the price of one euro, the repair of this property can cost up to 60,000 euros.
However, those who wish are still there. In the town near the ski resort, some houses have already been sold. Also, by the way, for 1 euro houses can be purchased in the town of Maenza, located two hours drive from Rome and Laurenzane – also a few hours south of Naples.