In the Italian villages that offer very cheap homes, things are starting to normalize. Some time ago there were already shows in Sambuca, Biccari and Cinquefrondi. This time it was Castiglione di Sicilia, a village on the island of Sicily. The cheapest homes cost 1 euro.
The village is located on the slope of the Etna volcano near the coast of Sicily. It is surrounded by vineyards and is therefore called the “city of wine”. About 900 abandoned homes were sold. Most of them are in the older part of the village. Half of them are ruins that sell for 1 euro. The other houses are in better condition and are for sale for 4,000 to 5,000 euros.
Mayor Antonino Camarda initiated a project to combat the exodus of residents from the village. In the early 20th century, there were still 14,000 people living there. Today there are only three thousand. “We have to save a lot of the architectural heritage that is full of history,” said the mayor. “Lots of people left and left behind a lot of great old homes. Many still date from the Renaissance.”
If there is great interest in the house itself, an auction is conducted. The project is the largest yet. At least 400 homes have been sold that are still in relatively good condition and require little renovation.
If you want to buy a home, you have to create a detailed plan for the type of home you want and how you will renovate it. A special team was formed to lead the project. Buyers must complete the renewal within three years. However, no deposit is required. New owners must take out insurance with the bank for 4,000 euros.
More information can be found on the project website.
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