The Latch

One of Italy’s Most Beautiful Towns Is the Latest to Sell Homes for €1

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While Italy was hit early and hard by the COVID-19 pandemic, the country showed a successful and inspiring response and is now ready to welcome visitors safely to its beautiful cities, seaside towns and historic villages.

Aside from passing travellers, the country is on a mission to bring new residents to its ageing towns, and in the past few years, has launched a number of enticing initiatives to encourage people from all around the world to invest in properties and move into Italy — permanently or temporarily.

Perhaps the most alluring initiative is the €1 homes that individual municipalities have auctioned off. Since its conception, a bunch of towns have taken part, selling their abandoned and dilapidated homes to people all around the world.

We’ve seen homes in Teora, Cinquefrondi, Sambuca, and Mussomeli all find new ownership in global buyers passionate about living in Italy, and now, yet another town has announced it will be selling off its empty homes.

Salemi, a picture-perfect town in Sicily, is the latest to sell off its run-down properties in an effort to revive its dwindling population. The medieval town is launching the offer with around 12 homes at the €1 cost (around $1.66 AUD at the current conversion) but may have another 100 properties to sell off if the first round is a success.

By now, you know the drill. The homes for sale are dilapidated and unlivable when sold, and buyers must commit to renovating the properties to a liveable state within three years.

In Salemi’s instance, a deposit guarantee of €3,000 will be put down as a promise the renovation will take place within the timeframe, to be returned in full once the refurbishment is complete.

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Salemi is a desirable town to live and holiday in. It’s located in South-Western Sicily and is surrounded by olive groves, wineries, and plenty of natural trails for hiking. It’s but a short drive to the coast, though the town itself has plenty to offer, with restaurants, cafes, museums and bars.

Need some more convincing? We spoke to a real-life buyer of a €1 Italian home, and here’s what she had to say: “I would do it again and I probably will. My best advice to anyone considering buying one of these homes is to put in a bid!”

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