Many Italian towns have used the initiative to boost their population and revive the local economy following mass exoduses which have left numerous old houses abandoned.
The latest location to try to lure residents with the promise of cheap land is Bivona, a small town deep in the heart of Sicily, which has a population of just 3800, half of what it was 40 years ago.
Bivona is easing restrictions and offering tax bonuses to anyone who wants to pay just over a dollar to buy one of a dozen empty and dilapidated properties, in an attempt to stand out from the pack.
As is usual with these deals, buyers are expected to invest in repairing and restoring the property.
Bivona’s tax incentives are for buyers who choose to also take up residency.
Other towns, including the Sicilian communities of Mussomeli and Cammarata, have required buyers of homes on the market for €1 to stump up €5000 as a deposit, refundable if the new owner starts renovations within three years.
Bivona is a little more lenient, asking for a bond of just $2750 and stretching the mandatory renovation period to four years.
According to local authorities, renovations can begin one year after all building permits are granted and must be completed within the following three.
Some of the houses on offer are dilapidated, while others require only minimal work.
Dating back to the 1100s, the town is set inside a rocky amphitheatre and surrounded by nature, with olive and orange groves, valleys and almond plantations on its outskirts.
Local authorities are hoping those who are enchanted by nature will want to scoop up a home.
Those who purchase a building are free to use it as a hotel, B&B, restaurant or shop... Or just reside in it while living la dolce vita.
The €1 houses will be posted in the coming days on Bivona’s official website together with maps, details and photos.
Potential buyers can register their interest via email.
