Become a homeowner in Italy by spending only 1 euro
The number of Italian towns selling houses at a low price keeps growing
- December 10, 2019 11:30
- Monika Dimitrova
You think it's impossible, right? In fact, it is a real initiative that is becoming more and more popular across Italy. The "Case a 1 euro" (1-euro houses) project has been launched by several Italian municipalities.
The aim of the project is to counter the population outflow and give a new birth to troubled areas. This unique possibility gives chance to repopulate gorgeous Italian villages that are being deserted.
This initiative is not new, as TheMayor.EU announced it a year ago, but it is gaining increasing popularity. The long-term strategy of the project is attractive to those who are looking for low-cost real estate investments in Italy. In addition, the initiative will restore the prestige of Italian villages famous for their extraordinary beauty and vintage atmosphere.
Additionally, the project “1-euro houses” is expected to change positively the Italian real estate market, facilitating the access to homes by young people, who cannot afford a mortgage.
Last but not least, the repopulation of these small villages also promotes tourist activities, regenerating the economy of the entire area. To enhance the tourism economy, it is possible to repurpose an old building as a boutique hotel, or even to create a bigger project involving multiple premises in the same village and even to build a new hotel.
Preserving the historical and cultural identity of Italy
As you know, Italy is a very prominent country in terms of cultural heritage, boasting 55 UNESCO World Heritage Sites. This incredible national wealth is the result of a centuries-old accumulation of wealth and culture and preservation of sites that are in a state of abandonment. For this reason, the management of abandoned property is a resource for cultural development for Italy.
Improvement and redevelopment minimize transformative interventions and preserve the historical and cultural identity of a country. Hopefully, the 1-euro houses project will help the revival of abandoned villages across Italy.
Like the article? Subscribe to our newsletter to receive the latest from the EU cities right into your inbox.