Historical Houses Available for Sale at a Price of Only 1 Euro!

Restored homes in a village in Italy are up for sale for just 1 euro. Historical houses in a village in Italy are being offered for sale at a price equivalent to the cost of a cup of coffee. Abandoned houses in the town of Penne in the Abruzzo region of Italy are being sold for one euro in an effort to halt the declining population. According to the statement made by the municipality, since the launch of the project in 2022, 6 houses have been sold, mostly to Italians, and the sale of the other houses is planned within the next few weeks.

REGION COULD TURN INTO A GHOST TOWN

The Mayor of Penne, Gilberto Petrucci, stated, “There are over 40 vacant homes in the town looking for new owners, all located in the historic center. Despite our total population being around 1,200, only about a thousand people live in our magnificent historical area. We are at risk of turning into a ghost town.” Petrucci mentioned that most of the houses belonged to local farming families who abandoned the town after their houses were damaged, especially during World War II, and other families migrated to the United States, Belgium, Venezuela, and nearby larger towns and cities to work in factories in the 1970s. Petrucci also noted that the first 3 houses in the town were sold in 2022, and the other 3 were sold at the end of last year, stating that the remaining houses put up for sale have similar characteristics. Describing the houses as quite old, Petrucci mentioned that some of the houses date back to the Middle Ages and were restored during the Renaissance period.

SOLE CONDITION: RESTORATION

Providing information about the sales process, Petrucci said, “The only condition is for the buyers to commit to restoring these houses within three years. However, we do not require a down payment to start the work. We aim to truly encourage and support those who come to revive the ancient neighborhood.” According to the mayor, the initial cost of renovating a small to medium-sized house will be around 20,000 euros. It was stated that the prices of houses in the town and its surroundings, which are in livable condition and do not require restoration, start from 40,000 euros. Houses in Zungoli near Naples and Mussomeli and Sambuca towns on the Sicilian island were also put up for sale for 1 euro in Italy. It is reported that the foreign population has increased in these towns since the start of the project.