You often hear on TV or read online that in some parts of Italy,
you can buy a house for the symbolic price of €1.
Who wouldn’t like to buy a house in Italy for just €1? At first glance, this might seem like a once-in-a-lifetime deal, but after a deeper analysis, you can quickly see that there’s more than meets the eye and that there are lots of limitations and conditions in place.
However, it is true that in some parts of Italy, you can buy a house for just €1.
Where can I buy houses for €1?
These houses are for sale only in small mountain villages.
So, if you think you can buy a home in Rome, Florence, Milan or in a seaside resort at almost no cost, you will be very disappointed. You can buy these homes only in small, often remote, and deserted mountain villages where services are non-existent, roads are rough, and the climate can be harsh.
Most likely, in winter you will find yourself living in a ghost town. After all, the aim of this project is to repopulate dying villages.
Can a foreigner buy these houses?
Of course! There is no income limit, and all you need is an Italian tax code number, which you can get in a few easy steps.
What are the conditions?
Certainly! Other expenses include fees for the notary public, the architect or the surveyor, the construction costs, and the surety policy.
In sum: Although it may seem like an excellent investment, buying a home for €1 is not the deal of a lifetime that it seems at first glance. There are many conditions and limitations in place and rules and regulations to follow. From a marketing point of view, it is excellent advertising. But digging deeper, you can see that perhaps there are more disadvantages than advantages to the deal when you consider that, in the end, it is not an investment of €1 but of tens of thousands of euros. The fundamental question to ask and answer is this: is it worth spending all this money to live in an isolated place away from everything?