Why spend thousands of dollars on a one-time dream trip to Italy when you can spend € 1 for a permanent Italian getaway?
For one euro, which is about $ 1.20, you can own your own home in the city of Laurenzana, a few hours south of Naples.
The city is offering abandoned homes at a very low price in hopes of attracting more people to the mostly isolated area.
This is not the first time a city in Italy has offered a deal that is too good to be true. Last year, small towns across Italy offered similar deals, but most seemed to be a plan, with many individuals having to make a $ 5,950 deposit to repair the old houses.
But this time no deposit is required.
The decision was made by Laurenzana Mayor Michele Ungaro.
“We want to help newcomers buy the house of their dreams without making it difficult to follow tedious procedures and strict requirements,” Ungaro told CNN. ‘Sometimes it can be difficult to navigate through regulation, especially if you are a foreigner. We want this adventure to be a pleasure and no burden. ‘
“Therefore, we do not ask for a deposit guarantee to ensure that the works are carried out quickly,” Ungaro added. “We rely on the good faith and dedication of buyers, but we will constantly monitor the work and the status of the renovation.”
The mayor also added that buyers who opt for a home at Laurenzana, three months after buying it, should start the renovation, but have three years to complete it.
There are currently 50 abandoned homes throughout the city. Many of the properties date from the 1800s and are built with stone and red brick, with iron balconies and pleasant arches.
But many of the buildings have the doors of the hinges, the vegetation grows through the walls, missing stones and barred entrances.
According to Mayor Ungaro, prospective owners should be willing to pay at least $ 24,000 to bring the homes back to life – and above $ 90,000 to complete them.
The houses can range from 430 square feet to 1615 square feet.
You also have the option to use the property in any way. It can be converted into a B&B, boutique or private holiday home, among other places.
Anyone seriously considering buying a home in Laurenzana should send an email to [email protected] for more information.
Buyers will have to visit the place themselves to complete the sale. Due to COVID-19 travel restrictions, sales are unlikely to be fully processed within the next few months.
The city dates back to the 12th century, with the ruined Laurenzana castle overlooking the hills.
Local delicacies include calzones stuffed with salami and gnocchi with turnip.