![]() There are thousands of houses available from north to south and on Sicily, said Maurizio at Case A 1 Euro. ItalyĪ not-so-fun fact: Italy’s overall population shrank by 384,000 in 2020, the most in over 100 years. See more about affordable houses – though not 1 euro houses – in reviving French villages on page 2 of this post. The municipality has posted the details online here, but they’re in French. And you have to start renovations within 6 months, with a plan to finish in two years. In Saint-Amand-Montrond, you have to actually live in the house … you can’t buy this for a rental or Airbnb. Just as in Italy, this program is about luring people back into villages where most of the people have left for opportunities in urban areas. What we know is that a pretty good sized house – about 1,000 square feet – is up for sale for the symbolic price of 1 euro. Is it the beginning of a trend? Who knows. ![]() Franceįrance is late into the 1 euro house game, but it’s off to a notable start with a house for sale in Saint-Amand-Montrond smack-dab in the middle of this huge country, about 300 kilometers south of Paris. Here’s the contact page (in Croatian) for Legrad. Oh, Legrad’s mayor, Ivan Sabolic, says the town will cover 20 percent of renovation up to 35,000 kunas, or about 5,000 euros. ![]() The Reuters post doesn’t say that you have to live in bucolic rural Croatia for 15 years, just that you have to keep the property. Oh, and you have to commit to staying 15 years. The rules for getting one of these deals includes being under 40 years old and financially solvent. As of mid-2021, Legrad had put 19 on the market, out of which 17 have sold, according to Reuters. That said, many areas are only now joining the 1-euro craze, especially in northern Italy, and have plenty of properties from which to choose.Ī village in northern Croatia on the border with Hungary is now selling abandoned houses for 1 kuna, or about 16 cents American. So if you find a village you think would work for you, double-check to see it they still have any inventory. But Italy has also had the greatest success with this program, and some areas are running out of houses to restore. Croatiaīy far, Italy has the most villages and towns using the 1 euro scheme to restore and repopulate, and there are dozens of active campaigns to attract investors from north to south as well as on the islands of Sicily and Sardinia. Financial Times has a detailed post about how the 1 euro phenom has transformed Sicily. Investigative Europe has an eye-opening look at how abandoned houses are a Europe-wide phenomenon. ( Full disclosure: You can throw a dart at a map of Italy and pretty much anywhere it lands, there’s a 1-euro house “initiative.” Some are ad hoc, with houses coming and going, and mayors and officials making up the rules, then changing them on a whim.)įrance, Spain, Croatia, Japan and other countries are only now getting on the bandwagon, so this is becoming a global phenomenon. “It’s a cultural phenomenon, not just a business phenomenon.” ![]() “A lot of people move to the city from the countryside to work,” Maurizio Berti with Case A 1 Euro told us. ![]() And the reason is simple: While a lot of outsiders can afford the luxury of living in an idyllic village in rural Italy, locals can’t. While some media present buying the 1 euro house as a new opportunity, this trend has been going on since at least 2015, when entire Spanish villages started going on the market for less than the cost of a 1-bedroom apartment in London. And show runners promise the glam duo do all the rough-and-ready work themselves. In June, 2022, BBC executives announced they’re getting in on the bandwagon with “The Italian Job.” In this series, which just debuted on BBC1, British celebs Alan Carr and Amanda Holden buy and restore a house in Salemi, Sicily. Amanda Holden and Alan Carr in “The Italian Job” on BBC1 ![]()
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