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The sale goes away in an Italian village: Houses with a starting price of three euros

Published By Desantos Rocky | Jun 11, 2024 10:36 a.m.

Illustration of envelope and location pin for contact information

Note Descr: A cup of coffee or a holiday home in Italy? The starting price for a house in an Italian village is around NOK 35....

Sambuca di Sicilia in 2019. Photo: Alberto Lo Bianco / IPA / Pa Photos / NTB A cup of coffee or a holiday home in Italy? The starting price for a house in an Italian village is around NOK 35. Tuesday 11 June at 02:19 After experiencing great demand at previous home sales in 2019 and 2021, several houses in Sambuca di Sicilia are now being put on the market - with a starting price of three euros, which is equivalent to approximately NOK 35. - Foreigners flock to buy our houses, it has really caught on, says mayor Giuseppe Cacioppo to CNN. On Monday evening, the thermometer shows 25 degrees in Sambuca di Sicilia, which has around 5,800 inhabitants. Sambuca di Sicilia in 2019. Photo: Alberto Lo Bianco / IPA / Pa Photos / NTB – Tourists and interested buyers currently traveling to Italy, and those planning a trip in the spring and summer can come and take a look, says the mayor. He says that the homes are "as structurally stable as the previous ones that have been sold", but need a new design. We are talking about twelve houses, with a size of 50 to 80 square meters spread over one or three floors. Many have balconies and original green-painted doors. Mayor Leo Ciaccio advertised the bargain sale in 2019. Photo: Alberto Lo Bianco / IPA / Pa Photos / NTBSambuca di Sicilia received a lot of attention when CNN announced that they would sell 16 homes for one euro in 2019. Two years later they sold homes for two euros . The sales have attracted buyers from all over the world. The mayor says that the move has contributed to the local community receiving 20 million euros, almost NOK 230,000,000. It includes turnover from new stores that have opened, contracts with architects and builders and new accommodation. This is how it works The village of Patrica, located south of Rome, has tried to launch similar schemes, but has struggled to track down the previous owners in order to be able to sell the houses that are empty. In Sambuca di Sicilia, it is the local authorities who own the homes, which is cited as a major reason why the move has worked. What do you think? Would you buy a house in Italy for NOK 35? aSì, packing my suitcase at oncebNo, I prefer other destinationscDon't knowNo, it seems too good to be trueThe houses are sold to the highest bidder. The winning bid will be placed in a sealed envelope and opened in front of a judge after the application deadline. In the previous sales, the houses have ended up being sold for between one and 25,000 euros, where most have gone for between 5,000 and 10,000 euros, writes CNN. Those who participate in the auction must pay a deposit guarantee of 5,000 euros, around NOK 57,000. If you lose the bid, you get your money back. The buyer must complete the renovation work in the home within three years or they risk losing the deposit guarantee.