Would You Buy a House in a Small Italian Town for 1 Euro?
It's a little more complex than that, but not that much
If you’re looking for a change of scenery, you might find the idea of moving elsewhere in the United States and getting paid for it enticing. But American cities and states aren’t the only ones looking to bolster their population by offering incentives to people willing to move. A number of towns across Italy that have seen their populations dwindle in recent years are also offering a pretty great deal: buying a house there for 1 Euro.
Based on the current exchange rate, that’s a little less than $1.25. For, again, a house — and one in a scenic Italian small town, to boot. Now, before you dig out 5 quarters and go house hunting, it’s worth mentioning that there are some conditions to these deals. Chief among them is committing to spending a certain amount of money — 5,000 to 10,000 Euros, generally — to renovating your new space.
To state the obvious, this is still a pretty great bargain.
The towns offering variations on the “buy a house for a Euro” plan each have slightly different terms and conditions. Messy Nessy Chic recently published a great overview of what the process is like for many of the municipalities involved.
The towns can be found from Tuscany to Sicily. Some have residency requirements, while others are more lenient. And if the photos found in the guide are any indication, these towns are extremely photogenic. Even if you don’t end up buying a house there, you might well have your next post-pandemic vacation destination in mind.
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