Historic homes in southern Italy on sale for as low as $5

Are you dreaming of a property in Italy? This is your chance. Declining Italian cities have been doing everything they can to attract new residents in recent years, launching housing projects sold for one euro.

• Read also: To make you dream: in Italy, you can become an owner by spending only $3

While some of these towns struggle to find buyers for their abandoned buildings, others welcome completed sales.

After seeing huge demand during its previous house sales in 2019 and 2021, the Town of Sambuca di Sicilia, Sicily, is set to put a third lot on the market, this time with starting prices of 3 euros .

Credit Comune di Sambuca di Sicilia

The cost of 3 euros represents approximately $4.50 Canadian, a little less than 5 dollars.

The city’s newly elected mayor, Giuseppe Cacioppo, is happy that foreigners are flocking to buy their homes; other sales will take place in the future.

Cacioppo encourages interested buyers heading to the region this summer to visit the city and discover the dozen homes currently for sale.


Municipality of Sambuca di Sicilia

The ten houses in question have only one common room, 2 to 3 bedrooms, 50 to 80 square meters, built of brown stone and spread over one or three floors.

Many feature wrought-iron balconies overlooking cobblestone lanes and panoramic terraces, as well as original old wooden doors painted green.

The houses are “structurally stable”, but in need of renovation.


Historic homes in southern Italy on sale for as low as $5

Municipality of Sambuca di Sicilia

Sambuca made headlines in 2019 when CNN announced the sale of 16 homes for one euro. Two years later, the city offered a second batch of housing.

The house lots have revitalized the private real estate sector and the local economy.

Other depopulated Italian towns, such as the medieval village of Patrica, have tried to launch similar projects, but have struggled to track down former owners and get permission to sell their empty homes.


Historic homes in southern Italy on sale for as low as $5

MEGA/WENN

Sambuca authorities took possession of the town’s abandoned houses after an earthquake struck the surrounding Belice Valley in 1969.

The natural disaster forced residents to flee, leaving empty homes behind.

Homes auctioned under Sambuca’s latest program will be sold to the highest bidder, with the winning bid placed in a sealed envelope and opened in front of a judge after the application deadline.

Auction participants must pay a security deposit of 5,000 euros, or approximately 7,400 Canadian dollars. If they lose, the money will be returned to them.

In 2019 and 2021, homes were sold for prices between 1 and 25,000 euros (or $37,000 Canadian), with most falling between 5,000 euros and 10,000 euros, according to CNN.

The new owner must bear the cost of the house, the renovation costs, all notary fees and any transfer costs.

For more information and to view accommodation, visit the site from the Italian town Sambuca di Sicilia.

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