Why spend thousands of dollars on a dream trip to Italy once when you can spend € 1 for a permanent Italian getaway?
For a euro, which is about $ 1.20, you can have your own home in the city of Laurenzana, located a few hours south of Naples.
The city is offering abandoned houses at a very low price in the hope of attracting more people to the more isolated area.
It is not the first time that a city in Italy offers a deal too good to be true. Last year, small towns across Italy offered similar deals, but most turned out to be a scam, with many individuals having to make a $ 5,950 deposit to restore the old houses.
But this time, no deposit is required.
The decision was made by the mayor of Laurenzana, Michele Ungaro.
“We want to help newcomers to buy the home of their dreams, without making it difficult to comply with tedious procedures and strict requirements,” Ungaro told CNN. “Sometimes it can be difficult to navigate the regulations, especially if you are a foreigner. We want this adventure to be a pleasure, not a burden. “
“That is why we do not ask for any deposit guarantee to ensure that the works are carried out quickly,” added Ungaro. “We count on the good faith and commitment of the buyers, but we will be constantly monitoring the progress of the works and the progress of the renovation.
The mayor also added that buyers who opt for a house in Laurenzana must start renovations three months after the purchase, but have three years to complete it.
There are currently 50 abandoned houses across the city. Many of the properties date back to the 1800s and are built with stone and red brick, with iron balconies and pleasant arches.
But many of the buildings have doors off their hinges, vegetation growing through the walls, missing stones and blocked entrances.
According to Mayor Ungaro, prospective homeowners should be willing to shell out at least $ 24,000 to bring homes back to life – and more than $ 90,000 to complete it.
The 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 can be transformed into a B&B, boutique or private vacation home, among other options.
Anyone who is seriously considering buying a house in Laurenzana should send an email to [email protected] for more information.
Buyers themselves will need to visit the site to finalize the sale. Due to COVID-19 travel restrictions, sales are unlikely to be fully processed in the coming 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.