Houses for 1 euro in Italy: Italy launches the enhancement of Italian villages
The project ''Houses for 1 euro in Italy'' was born due to the population flight from the small Italian villages, especially young people, with the consequence that their image is a set of a few abandoned houses.
The abandonment of the delightful Italian villages that are uncomfortable for the modern world but characterize our country generates the undeniable sadness.
In the face of the aforementioned awareness, an initiative was born with some Italian municipalities as its promoters, in order to avert the danger of abandonment by the population and to revive areas in difficulty.
The operation Houses for 1 euro is intriguing for those who want to buy a home in Italy at low cost, as well as useful to restore prestige to towns envied by all the world and to boost the real estate market, facilitating access to the purchase of houses to young people who find it difficult to obtain a mortgage and also to foreigners who want to buy a house in Italy.
Houses for 1 euro in Italy: how to buy a house in Italy for €1
To know, in details, the operation of the Houses for 1 euro project and the methods of access, it is necessary to specify first of all that the buildings being sold (dilapidated or unsafe buildings, not inhabited or habitable) are the object of private donation to the Municipalities, which, acting as guarantors, sell through public auction with a secret offer at the starting price of 1 euro.
Buyers can be the following:
- Individual companies, agencies, companies, cooperatives;
- Private Italian, EU and non-EU citizens, including those in form of partnership, who are interested in the renovation of buildings for residential and / or tourist use of their family;
- Association and also craft or commercial enterprises;
For the sale of the property in question, a special list of bidders will be drawn up based on the price offered. The property will be awarded to the applicant who has made the best offer.
Upon the payment of the deposit made, the preliminary sale will be stipulated in which the future buyer will have to:
- guarantee a project of restructuring and revaluation of the property within the term set by the Municipality;
- support the notary fees for registration, transfer and piling up;
- make sure within the deadline set by the Municipality, starting from the moment you have all the permits, to start the renovation work.
Failure to pay the sum offered, the technical documentation or failure to complete the work within the terms entails the revocation of the award, as well as the loss of the deposit.
As a guarantee of the security of the purchase, the Municipality asks to stipulate a surety policy for a variable amount, for a period of three years, which is then reimbursed upon expiry.
The buyer is obliged to pay the value for the purchase and necessary expenses connected to the transfer of the property.
The seller, on the other hand, to assume the obligations and charges regarding the resolution of the practices inherent to the changes of ownership and to form a historical file of the building to be presented in the Municipality in support of the planning deeds of the redevelopment intervention, should complete with the surveys carried out at the Revenue Agency of the territory.
The interested party, in order to purchase, in addition to the expression of interest must produce a brief technical-explanatory report of the recovery proposal that he intends to implement, with an indication of the type of intervention, in relation to the priorities defined by the municipal administration, namely the intended use of the recovered building and the building intervention necessary for the definition of the work.
The Municipality has the right to request clarifications or integrations, if deemed necessary.
All the details about the Houses for 1 euro project are provided in full by the construction offices of the municipalities involved and in the relative public calls.
Houses for 1 euro in Italy: which town in Italy is selling houses for 1 euro? Here are the houses available in 2019
The Italian Municipalities that today have joined the Houses for 1 euro operation for the current year 2019, are the following:
- Lecce nei Marsi in the province of Aquila;
- Borgomezzavalle in the province of Verbania in Piemonte;
- Carrega Ligure in the province of Alessandria in Piemonte;
- Sambuca di Sicilia in the province of Agrigento in Sicilia;
- Regalbuto in the province of Enna in Sicilia;
- Ollolai, on the mountain of Barbagia, in the province of Nuoro in Sardegna;
- Nulvi in the province of Sassari in Sardegna;
- Montieri in the province of Grosseto in Toscana;
- Fabbriche di Vergemoli in the province of Lucca in Toscana;
- Patrica in the province of Frosinone in Lazio.
Do you want to buy a house for 1 euro? We at Studio Arnone & Sicomo will follow you at every stage of the procedure, from that of participation in the tender for the assignment of the property to the restructuring and design phase. We also put our reference architect at your disposal to evaluate together the best project to present.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.