Buying a house can be an odyssey due to high prices, interest rates, or necessary conditions to access a mortgage. There are different strategies to combat depopulation. Many of these consist of offering housing and taking over a business instead of moving to town or offering other types of incentives.
The depopulation of some rural areas not only affects Spain but is also common in other parts of the world. Italy decided to find solutions to this situation repeating an initiative that has been successful in previous years. It is about selling houses for one euro.
The goal of this project is, in addition to stopping depopulation, the economic revitalization of these areas. the price is tempting but those interested in buying should know that there are a series of requirements which must be fulfilled.
The requirement to buy a house in Italy for one euro
The first thing to remember is that, in general, these are properties that are not in optimal conditions. The new owners will be forced to pay for a renovation. Foreigners can buy these houses, even if they live outside the European Union.
The houses are sold in the municipalities that offer them and to participate in the program, you must show them all the corresponding documentation. Each may include some more specific requirements depending on your convenience.
Anyone interested in purchasing a property must present an improvement or reform plan for two, three, or six months, depending on the municipality. In addition, you need to consider all the costs of renovations, taxes, transfers, etc.
The houses can be used for residential use, but also private such as the development of rural projects or other types of business appropriate to the territory. In any case, the City Council must be notified of the purchase request.
Where are the houses for one euro in Italy
These houses are located all over Italy. Those announced in this edition of the project are located in the regions of Abruzzo, Campania, Lazio, Marche, Piedmont, Tuscany, Sardinia, and Sicily.
As the Spanish Youtuber Portillo told us, some of these houses are in a town hit by earthquakes. In this area, abandoned or disused houses with weak structures are mixed with inhabited houses.
The City Councils of these cities have information portals and how-to guides to submit all documentation for consideration. These documents must be submitted through the channels indicated.