Croatiaīy far, Italy has the most villages and towns using the 1 euro scheme to restore and repopulate, and there are dozens of active campaigns to attract investors from north to south as well as on the islands of Sicily and Sardinia. Financial Times has a detailed post about how the 1 euro phenom has transformed Sicily. Investigative Europe has an eye-opening look at how abandoned houses are a Europe-wide phenomenon. You can see the full list here of all the villages in Italy offering 1 euro homes.)įrance, Spain, Croatia, Japan and other countries are only now getting on the bandwagon, so this is becoming a global phenomenon. ( Full disclosure: You can throw a dart at a map of Italy and pretty much anywhere it lands, there’s a 1-euro house “initiative.” Some are ad hoc, with houses coming and going, and mayors and officials making up the rules, then changing them on a whim. “It’s a cultural phenomenon, not just a business phenomenon.” ![]() ![]() “A lot of people move to the city from the countryside to work,” Maurizio Berti with Case A 1 Euro told us. And the reason is simple: While a lot of outsiders can afford the luxury of living in an idyllic village in rural Italy, locals can’t. ![]() While some media present buying the 1 euro house as a new opportunity, this trend has been going on since at least 2015, when entire Spanish villages started going on the market for less than the cost of a 1-bedroom apartment in London. The asking price is 145,000 euros, so a nice potential return for 1 euro. So how did it turn out? The images above are from the real estate listing.
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