Buying a house for 1 euro in Italy - what is the secret of cheapness?

Often on real estate sites there are ads for the sale of real estate for 1 euro. But not everyone understands what lies behind this. Such real estate is sold in forgotten and remote villages where the authorities decided to revive life and attract the attention of interested people.

What is the procedure for selling houses for the price of a cup of coffee?

You can find out about such properties in the local media or on the website of your local municipality. Submit your application there. You decided to buy such an object, then you need to write a statement, tell about yourself and why you decided to buy such a house. The administration considers your proposal and gives the go-ahead for the registration process.

What do you need to buy such an object?

There are certain requirements: you must restore the property within a certain period, usually up to three years, and carry out major repairs. The authorities can request a deposit in the bank account of thousands of euros, which will be returned after the repairs have been carried out. Or there is such a condition: to move to the region and conduct activities there for a certain period.

Often, buyers are charged with more than just renovating the property. but also create jobs. This is how the authorities want to revive life in the area.

But the most interesting thing is that there are no restrictions on applicants for real estate for 1 euro, they can be residents of any country. But, we must remember that this deal does not give foreigners the right to live in Italy on a permanent basis. To obtain a residence permit, you need serious grounds: official employment, your own business.

And one more trick of buying real estate for the price of coffee.

It is unlikely that you will receive any financial benefit from such a deal, other than the moral satisfaction that you have revived the life of some village in Italy.

The cost of restoring a house will be approximately equal to the same housing in the secondary market, plus the hassle))) But that's not all. Selling a restored house in such an impeccable village, even in Italy, is unlikely to be successful for you.

Carefully calculate your finances: such a transaction should not be carried out with the last money, there will be unforeseen expenses.