Share to Facebook Share to Twitter Share to Linkedin While the €1 house offer seems dreamy, the buying process can be laborious and convoluted if you don’t know how it works. One town in Italy recently relaunched its €1 ($1.06) houses initiative in response to the results of the US election.
Giving a chance for “worn out” Americans to escape the political drama, the village of Ollolai in Sardinia has put several abandoned properties on the market for less than the price of an espresso. Recent years have seen communities across Italy sell off dilapidated homes for a pittance in a bid to boost dwindling populations. These small, rural villages have seen the number of inhabitants plummet in the last few decades as residents seek better economic opportunities in cities.
Towns including Zungoli in Campania and Mussomeli in Sicily have auctioned off hundreds of properties to buyers from around the world. The initiative has also gained popularity among celebrities, with Alan Carr and Amanda Holden purchasing a €1 home in Tuscany as part of their hit TV show Amanda & Alan’s Italian Job. Italy $1 House Scheme: 3 Mistakes To Avoid While the €1 house offer seems dreamy, the buying process can be laborious and convoluted if you don’t know how it works.
“Buying property abroad as an expat can seem complicated with unique challenges such as language barriers, exchange rates and more difficulty getting a mortgage. But it’s pretty straightforward if you know what you’.