You Can Buy a Home In Sicily for $1 – But You’ll Have to Renovate It
Have you ever wanted to live in Italy? Do you have a $1 to spare? If you said yes to both questions, you’re in luck! Sambuca, a town in Sicily, Italy, currently is offering homes for sale for a whopping $1. Yes, it will only cost a buck to buy a home in Italy!
In an effort to bring a boom to their economy, Sambuca is selling homes for £1 ($1.14). Now, the offer might sound too good to be true, but it actually isn’t! However, there are some stipulations to this deal. Homebuyers will be able to purchase a house $1, but they will have to vow to spend a minimum of $17,200 (£15,000) in renovations and they’ll have to also put down a $5,700 security deposit. Still, starting out just under $23,000 is certainly a steal when it comes to purchasing a home abroad in Italy.
Giuseppe Cacioppo, Sambuca’s deputy mayor and tourist councilor, told CNN:
“As opposed to other towns that have merely done this for propaganda, this city hall owns all 1-pound houses on sale. We’re not intermediaries who liaise between old and new owners. You want that house, you’ll get it no time.”
The homes start on the smaller side, ranging between 430 square feet and go up to 1,614 square feet. The houses are in need of renovation and the buyers will be required to make their minimum $17,200 in renovations within the first three years of moving in.
Sambuca is located inside of a natural reserve. It is packed with history, having been founded by Greek people, before it was conquered by Arabic people in 830 A.D. The town is silent and peaceful, as it surrounded by woods and mountains. However, travelers looking for beautiful Italian beaches will also be pleased with the beachscape in Sambuca. There are plenty of vineyards surrounding the city, so people can their fill of Italian wine!
Cacioppo told CNN,” Foreigners are flocking here, flabbergasted by all this beauty. Some 10 houses have already been sold. Dozens of others are available but badly in need of a makeover. We’ve been contacted by people from Switzerland, France, and Spain and are receiving many requests.”
10 houses have already been purchased, so if this is something up your alley, you’re going to want to act fast. If you’re interested in this once-in-a-lifetime home buying opportunity, you can email case1euro@comune.sambucadisicilia.ag.it to express your interest.