Why spend thousands of dollars on a unique dream trip to Italy when you can spend € 1 on a permanent Italian getaway?
For one euro, which is about $ 1.20, you can have your own house in the city of Laurenzana, located a few hours south of Naples.
The city offers abandoned houses at a very low price in hopes of attracting more people to the mostly isolated area.
It’s not the first time a city in Italy has offered a deal too good to be true. Last year, small towns across Italy offered similar deals, but most turned out to be a plan, with many people having to leave a $ 5,950 deposit to restore old homes.
But this time no deposit is required.
The decision was made by the mayor of Laurenzana, Michele Ungaro.
“We want to help newcomers buy the home of their dreams without making it difficult for them to follow tedious procedures and strict requirements,” Ungaro told CNN. “Sometimes it can be difficult to navigate the regulation, especially if you are a foreigner. We want this adventure to be a pleasure, not a burden ”.
“That’s why we don’t ask for any deposit guarantee to ensure the works are carried out quickly,” Ungaro added. “We rely on the good faith and commitment of buyers, but we will constantly monitor ongoing work and the state of renovation.”
The mayor also added that buyers opting for a house in Laurenzana must start renovations three months after buying it, but have three years to complete it.
There are currently 50 abandoned houses across the city. Many of the properties date back to the 19th century and are built of stone and red brick, with iron balconies and pleasant arches.
But many buildings have hinge doors, vegetation grows through the walls, stones and blocked entrances are missing.
According to Mayor Ungaro, potential homeowners should be willing to shell out at least $ 24,000 to get the houses back to life, and more than $ 90,000 to complete it.
Homes can range from 430 square feet to 1,615 square feet.
You also have the option to use the property as you wish. It could be transformed into a B&B, boutique or private summer house, among other options.
Anyone seriously considering buying a Laurenzana home should send an email to [email protected] for more information.
Buyers will need to visit the location themselves to complete the sale. Due to COVID-19’s travel restrictions, sales are unlikely to be fully processed over the next few months.
The town dates back to the 12th century, with the ruined castle of Laurenzana overlooking the hills.
Local delicacies include salami-stuffed panties and gnocchi with turnips.