Italy seems to have seen an interesting business model in the sale of coastal houses, but also at a price that, although surprising, seems to have inspired other countries to follow in its footsteps, including Spain. Let’s see why Italy sells houses on the coast for one euro and what we can do to buy one of those houses.
Italy sells houses on the coast for one euro
Selling homes at nominal prices has become the latest growing trend in some parts of Italy. After the confinement in this country due to the pandemic, many houses were put up for sale in Sicily but at the ridiculous price of one euro . And we are not talking about something specific. It would be about hundreds of houses, followed by many others that were put up for sale last December in Castropignano , a city in the province of Campobasso, a region of Molise located in the mountains.
The aim is to renew these municipalities and their properties and with it that many other regions of the coast in areas such as Sardinia, Calabria or Lazio have also joined to “sell” houses for one euro this summer.
Requirements to buy a coastal house for one euro
According to the Idealista Real Estate portal, the initiative to sign up for the sale of coastal houses is open for many coastal towns that are already signing up. What is done is to draw up a list of houses that are abandoned and it is proposed to their owner that they invest in their rehabilitation . In case you do not want to rehabilitate the house, another option is offered: to put the property up for sale for the symbolic price of one euro.
Thus, there are many homes that have already signed up, although those interested who want to buy one of these homes must meet the requirement of committing to completely rehabilitate it and also to keep it in perfect condition for at least three years.
Spain copies the same model
The project appears to have been very successful and has in fact been ‘exported’ to other countries. Without going any further to Spain and specifically to Grigos, a municipality of just 1 43 inhabitants located in the Sierra de Albaragon (Teruel), which offers free work and accommodation in order to repopulate the town, something that in fact has been doing for a long time. in many other towns of the so-called « emptied Spain ».
Other countries like France or Croatia also follow the same steps. Thus, in Legrado county, an hour and a half from Zagreb, he recently decided to sell houses for one kuna (which is equivalent to about 13 euro cents).
