Why spend thousands of dollars on a unique dream trip to Italy, when you can spend EUR 1 for a permanent Italian getaway?
For one euro, which is about $ 1.20, you can own your own house in the town of Laurenzana, located a few hours south of Naples.
The city offers abandoned houses at a very low price, hoping to attract more people to the most isolated area.
This is not the first time that a city in Italy has offered a business that is too good to be true. Last year, small towns across Italy offered similar deals, but most proved to be a system, with many individuals having to deposit $ 5,950 to restore old homes.
But this time no deposit is required.
The decision was made by Laurenzana’s mayor, Michele Ungaro.
“We want to help newcomers buy their dream home without having to go through tedious procedures and strict requirements,” Ungaro told CNN. “Sometimes it can be difficult to navigate through regulations, 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 a deposit guarantee to make sure the work is done quickly,” Ungaro added. “We rely on good faith and the commitment of buyers, but we will constantly monitor the work in progress and the state of renovation.”
The mayor added that buyers who opt for a house in Laurenzana must start renovations three months after buying it, but have three years to complete it.
Currently, there are 50 abandoned houses throughout the city. Many of the properties date back to the 1800s and are built of stone and red brick, with iron balconies and pleasant arches.
But many of the buildings have hinged doors, vegetation growing among the walls, missing stones and blocked entrances.
According to Mayor Ungaro, potential homeowners should be willing to sell at least $ 24,000 to bring the houses back to life – and up to $ 90,000 to complete it.
The houses can range from 430 square meters to 1,615 square meters.
You also have the option to use the property in any way you want. 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 travel restrictions, sales are unlikely to be fully processed in the coming months.
The town dates back to the 12th century, with the ruined Laurenzana Castle overlooking the hills.
Local delicacies include calzone stuffed with salami and gnocchi with turnips.