How to buy a house for 1 euro in Italy?
For several years now, Italy has had a mechanism in place that allows you to buy property for 1 euro. Yes, a symbolic 1 euro to buy a house. Obviously, the properties in question are not in perfect condition and there are certain obligations associated with their acquisition, but this scheme has already attracted many expatriates. Created with the aim of renovating and revitalising Italian villages, the €1 houses are selling very well and the scheme has been extended to other municipalities. What are the conditions for taking part? Which villages are taking part? I'm Lisbob, the expat assistant, and I'm going to tell you everything you need to know to buy a €1 house in Italy.
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Origin
Italy has an ageing population and rural areas are losing their inhabitants. To counter this trend, for several years now there has been a programme enabling people to buy a house in Italy for a symbolic 1 euro. The aim of this programme is to renovate derelict buildings in typical villages, and to repopulate areas that are becoming increasingly deserted. The dilapidated houses represent a financial cost for the owners, who can no longer look after them, but they are also a danger because of their badly damaged condition. As a result, a number of Italian villages have seen their populations increase for the first time in a long time, and the renovation programmes have brought work and investment to areas that need it.
Conditions
There are certain requirements to be met when buying a 1 euro home in Italy. The aim of the programme is to renovate and revitalise areas in need.
One of the first conditions is to propose a project for the property in question, which will be studied and assessed by the village council. Families are therefore given priority, as are people wishing to open a business or shop.
The buyer must also undertake to renovate the property and start work on the project within 2 months of the purchase, in collaboration with a local architect. The renovation and work must also be carried out within a set timeframe, generally around 2 or 3 years, and using local service providers. The aim is obvious: to help local craftsmen. The "Case 1 euro" programme is therefore a win-win project.
The Italian villages offering 1 euro homes also usually ask for a deposit of a few thousand euros, which is returned if the work is completed within the allotted time. This simply ensures that the buyer is serious about the project.
Price
I've got a secret for you: 1 euro houses don't really cost 1 euro. As I said earlier, the lucky owner has to commit to carrying out renovation work with local architects and service providers. These studies and works represent the main cost of these houses, with amounts that can reach 20 to 30,000 euros, which is still a good deal.
There are, of course, additional costs, such as the necessary travel to visit the various villages and properties, as well as notary and registration fees.
In the end, 1 euro homes always cost a lot more, and it can sometimes be a good idea to opt for a premium home. Indeed, 1 euro homes are the flagship product of the villages participating in the programme, and they very often offer 'premium' properties: no, these are not modern villas with swimming pools and tennis courts, but simply homes that do not require major renovation work or a deposit. In some cases, the purchase price is equivalent to that of a 1 euro house plus works, without the administrative constraints.
Advantages
There are many advantages to buying a property for 1 euro in Italy. As well as the symbolic price, new owners are sometimes offered kindergarten fees and school transport for their children. Some will also not have to pay property or council tax for three years.
In some villages, such as Troina in Sicily, the town council even offers a grant of 25,000 euros to improve the energy efficiency of the property in question and limit energy consumption.
Finally, you can take advantage of the 1 euro homes programme and benefit from impatriate tax status, which allows you to claim a tax reduction of up to 90%. I'll cover this in a separate video, the link to which you'll find in the description.
Which villages offer 1 euro homes?
There are many villages taking part in this programme, and you can find them in almost every region of Italy, from the north to the south, including the islands. This list is updated regularly, and some villages may have already concluded their programme and are no longer offering properties. At the time of publication of this video, here are some of the Italian villages offering homes for 1 euro:
Borgomezzavalle, in Piedmont, is the most northerly Italian village on this list. Located just a few kilometres from Lake Maggiore, it's perfect for lovers of mountains and greenery.
Ollolai, in the province of Nuoro in Sardinia, will delight expats looking for sun and tradition.
Sicily also has many villages offering 1 euro houses, such as Delia, Sambuca and Regalbuto at the foot of Mount Etna.
The fantastic region of Tuscany is not to be outdone, with the villages of Fabbrica di Vergemoli and Montieri, and it's also possible to buy a property near Naples in Pietramelara, or near Rome in Patrica.
You can read my articles with a more complete list by clicking here.
In short, 1 euro homes are not limited to small villages in southern Italy, and you can find something to suit you in almost every region.
Buying a house in Italy will not have any secret for you
How to buy a house for 1 euro
Whatever your reason for moving to Italy, the first and most important administrative step is to obtain a Codice Fiscale, an Italian tax number. This is what allows you to take all the other steps afterwards, such as opening a bank account, getting a loan, or even buying a house, whether it costs one euro or more.
This is a procedure that we can do for you, online, and before you arrive in Italy. That way you'll have everything you need and won't waste any time when you get there. You'll find more information on our website or mobile app, in the "Services" tab.
The 1 euro homes programme is an initiative specific to each village, which is free to publish its own rules. There is therefore no website that lists all the properties available in Italy.
So the first step is to make a list of the villages that are interesting for your project, and then visit the website of each village council to find out what properties are available and what the rules are. Some villages ask for a deposit of 2,000, others 5,000, and the time required for renovation work can be 2 or 3 years depending on the village.
You'll need to contact each village that interests you one by one and send in your application. The majority of them will require you to explain why your project deserves to be selected. It goes without saying that projects submitted by people wishing to become full-time residents and with an economic activity are given priority. If you're selected, you'll be able to buy a property for 1 euro, and make your dream come true!
I've told you everything you need to know about buying a 1 euro home in Italy. The list of villages taking part in this programme is constantly evolving, so you can subscribe to our newsletter to keep up to date with the latest news.