One-Euro House Programs Expand Beyond Italy
Several countries now offer homes for one euro to attract new residents and revive abandoned properties. A Latvian man, Ivars, recently purchased such a house in Sicily.
In recent years, a growing number of countries have introduced initiatives to sell real estate for a symbolic price of one euro. The goal is to attract new residents who can restore old, empty houses and give them a new lease on life.
While Italy's program, particularly in Sicily where one-euro homes are offered in several towns, is the most well-known, the trend is spreading. For instance, a Latvian named Ivars recently bought a house in Sicily for one euro. From the paperwork to the start of renovations, about a year passed, and he now owns a two-story, 48-square-meter house in the old town.
However, Italy is not the only country with such offers. Several other nations around the world have similar programs aiming to revitalize rural areas and small towns suffering from population decline. These programs typically require the new owner to renovate the property within a set timeframe, or face penalties or repossession.
The exact list of countries with one-euro house programs is not specified, but it is known that similar initiatives exist outside Italy. This approach is a way for countries to address the problem of vacant homes and attract newcomers who could stimulate local economies.
