Have you ever dreamt of moving abroad, perhaps to a warmer climate with delicious food at every corner? Say, somewhere like Sicily? Well you’re in luck. And we mean serious luck.
The Sicilian town of Sambuca is currently selling houses off for as little as €1 – yes, really. That is the equivalent of around 88p. The incredible bargain has been introduced to encourage people to move to the rural town in order to help the economy and encourage re-population.
The initiate follows a similar sale in the Sardinian town of Ollolai, where 200 houses were on the market for just €1 each in an attempt to attract new residents back in January 2018.
Speaking to CNN, Sambuca’s Deputy Mayor and Tourist Councillor, Giuseppe Cacioppo, said: ‘As opposed to other towns that have merely done this for propaganda, this city hall owns all €1 houses on sale.
He continued: ‘We’re not intermediaries who liaise between old and new owners. You want that house, you’ll get it [in] no time.’
We know, it all sounds a bit too good to be true, which is why there obviously is a catch. After all, there is no such thing as a free (or almost free) lunch. But fear not, the catch isn’t as off putting as you may expect. In fact, it is still a bargain.
The properties in question, which all vary from around from 430 square feet to 1,614 square feet, must be renovated. So as part of the deal, those who buys any of the houses on offer will have to commit to spending at least €15,000 (£13,200) on renovating over a period of three years.
You will also have to pay a €5,000 security deposit which will of course be refunded as soon as your renovation is complete. So, that’s under £14,000 in total for your very own Sicilian home. If that isn’t an attractive price, we don’t know what is!
Sambuca, described by Cacioppo as the ‘city of splendor’ is a hilltop town which is just a 75-minute drive south-west of the Sicilian capital of Palermo. In 2016, it was nominated in Italy’s Most Beautiful Town competition. Who wouldn’t want to live there?
If you’re interested in buying and renovating a property, contact email@example.com.