Italy one euro houses: Several areas including Sicily and Sardinia selling off vacant homes for $1 - what is the scheme, who is eligible to buy?

But, it is true. Several small Italian towns sell off vacant houses for €1 a pop. Sounds amazing doesn’t it. But let’s delve into how the scheme works, why houses are being sold for $1 and who is actually eligible to snap up one of these bargain villas in the sun.

Young Italians are increasingly migrating to the city instead of living in rural and community locations. This means that many of Italy’s prettiest remote villages are becoming abandoned. Some elderly Italians have found themselves with no one to leave their house to, bequeathing it instead to the local authorities, while some younger citizens have inherited properties in areas they have no intention of moving to.

Having a second home in Italy means paying taxes, so selling these unused houses is more lucrative. That’s why around 25 Italian municipalities are making prospective homeowners an offer they can’t refuse – a house for €1.

The catch is that you’re not buying a shiny new villa. The houses selected for the scheme are often dilapidated and require major structural improvements.

Still, the cost of renovations is still relatively low compared to other countries – in the region of €20,000–50,000 depending on the size of the property. New owners are also required to submit details of a renovation project within two to 12 months of purchase (depending on the location), start work within one year, and complete it within the next three.

Not every property ends up being sold for just a euro. Popular houses have become the subject of a bidding war, with several going for €5,000 or even €20,000.

Most towns who have set up a €1 house scheme have similar financial requirements. But, you’ll have to check the specific requirements of the town you want to buy in. Listed below are the requirements for Mussomeli:

• Support all expenses for the drafting of the deeds of sale (notary, registration, transfer)
• Prepare a project for the renovation of the property within one year of purchase, acquiring any permissions needed
• Start work within two months of the date of issue of the building permit
• Conclude work within three years
• Put down a “guarantee policy” deposit of £5,000 (£4,314), which they will lose in the event that the work doesn’t go ahead within three years

You’ll find €1 houses for sale on websites such as 1eurohouses.com, case1euro.it and property-in-sicily.estate as well as on individual local government websites such as the Comune of Sambuca’s or Citta de Troina’s in Sicily. Auctions2Italy also lists some €2 properties in the country

People living outside of the EU can still buy properties in Italy, but only as “non residents”. This means you pay higher taxes than locals, and can spend up to 180 days per year at your Italian house, but not more than 90 out of every 180 days. To visit more regularly, you would have to apply for Italian residency,

Listed below are areas that are running €1 house schemes.

• Emilia-Romagna
• Abruzzo
• Campania
• Sicily
• Piedmont
• Le Marche
• Liguria
• Puglia
• Sardinia
• Tuscany