Italy is famous for its €1 houses so why the price increase?
In 2019, the southern Italian village of Sambuca di Sicilia went viral for selling off homes for as little as €1.
Schemes like this have become a popular way for rural towns with dwindling populations to boost their number of residents and prevent disused houses from falling into disrepair.
But while the initiatives flopped in some places, Sambuca’s sellers were met with floods of requests.
Buyers came from as far away as the US and the Middle East. The sales injected some €20 million into the local economy.
Now, the Sicilian village is putting more houses under the hammer.
As with last time, however, there are a few stipulations potential buyers should be aware of – plus the price has gone up.
Italian village puts more cheap houses on the market
After successful sales in 2019 and 2021, Sambuca di Sicilia is auctioning off another lot of cheap houses.
This time, ten homes are available at the starting price of €3.
The structures are located in the town’s old Saracen district and are reportedly as structurally sound as those sold under previous schemes.