Why spend thousands of dollars on a one-time dream trip to Italy when you can spend $ 1 on a permanent Italian getaway?
For one euro, that’s about $ 1.20, you have your own home in the town of Laurenzana, a few hours south of Naples.
The city offers abandoned houses at a very low price in the hope of attracting more people to the largely remote area.
It is not the first time that 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 turned out to be plans requiring many people to make a down payment of $ 5,950 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 buy the home of their dreams without making it difficult for them to follow tedious procedures and strict requirements,” Ungaro told CNN. “Sometimes it can be difficult to navigate regulations, especially if you are a foreigner. We want this adventure to be a pleasure, not a burden. “
“Therefore, we are not requesting a deposit guarantee to ensure that the works are carried out quickly,” added Ungaro. “We rely on the good faith and dedication of buyers, but we will continuously monitor the work in progress and the status of the renovation.”
The mayor added that buyers who choose a home in Laurenzana should start the renovation three months after purchase, but have three years to complete.
There are currently 50 abandoned houses in the city. Dating back to the 1800s, many of the properties are stone and red brick, with iron balconies and pleasant archways.
But many of the buildings have hinge doors, vegetation growing through the walls, missing stones, and blocked entrances.
According to Mayor Ungaro, prospective owners should be willing to pay at least $ 24,000 to bring the houses back to life – and more than $ 90,000 to complete it.
The houses can range from 430 square feet to 1,615 square feet.
You also have the option to use the house in any way you want. Among other things, it can be transformed into a B&B, boutique or private summer house.
Anyone seriously considering buying a Laurenzana home should email [email protected] for more information.
Buyers will have to visit the venue themselves to complete the sale. Due to travel restrictions with COVID-19, it is unlikely that the sale will be fully processed in the coming months.
The town dates back to the 12th century, with the ruined Laurenzana Castle overlooking the hills.
Local treats include calzones filled with salami and gnocchi with turnips.