How to buy a house in Italy for just one euro

Have you ever dreamed of living in the rolling hills of Tuscany? Or on the beautiful island of Sicily? Well, thanks to the €1 scheme, that may now actually be possible.

It may seem hard to believe, but towns in Italy are really selling vacant homes for just €1 (US$1.11). The concept began with one small Sicilian town and it has now become so successful that there are €1 properties available across the country—and Netflix has even made a film about it!

But can it really be that easy (and cheap) to live in an Italian villa? To find out how, why, and where to buy, click on.

How did the scheme start?

The first question is, why would anyone want to sell a house for just €1? Well, the main reason is that Italy has an aging population. So, with no children or grandchildren to inherit their homes, many elderly Italians end up leaving them to the local authorities instead.

Why sell the homes for €1?

As with the rest of the world, young people from rural Italian towns are increasingly migrating towards big cities in search of cosmopolitan jobs and a faster pace of life. So, with no one left to buy the houses, towns came up with the scheme to start recruiting further afield. 

The benefit to the town

The concept is that by improving and occupying these homes, there will be an influx of new residents who will boost the economy and rejuvenate the community. In turn, this will eventually make the towns more money than selling the houses at full price.

So, what’s the catch?

Well, no one is going to sell a brand-new swanky villa for a couple of dollars. The houses on the scheme, therefore, are usually in need of major improvements and can be somewhat dilapidated. So, if you’re looking for somewhere ready to move straight in, then this isn't for you.

What type of houses are on offer?

The condition of the houses available varies and so do the properties themselves. A lot of them are small townhouses or cottages, however, monasteries, commercial properties, castles, and even an abandoned lighthouse have been sold on the scheme. 

Who can take part?

The scheme is open to anyone over the age of 18. If you have Italian residency or are an EU citizen, then this will be easy for you. If you’re from outside of the EU, you can still get involved but only as a non-resident—which means paying slightly higher taxes.

Fine print for foreigners

Non-residents can only spend 90 days at a time in Italy, and can’t spend more than 180 days in a calendar year. Put simply, this means living in your new home for three months and then leaving for three before you can return. With the right funds and paperwork, however, foreigners can apply for Italian residency. 

Do you have to live in it?

This again can differ from town to town. While some require you to live in the house, others allow you to rent it as a holiday home or make it into a B&B. This could be a good option for non-residents who need to leave regularly and are looking for a business opportunity. 

You’ll be on the clock

You don’t just have to show a plan, you also have to complete the plan on time. New owners are required to submit their plans within two to 12 months of purchase, start work within one year, and complete it within the next three.

You need to pay a guarantee

Some municipalities also ask for a guarantee fee or deposit to prove that you’re committed to the project. This usually costs between €1,000 (US$1,111) and €10,000 (US$11,115), and will be lost if the project does not go ahead within three years.

So, how much will it cost?

The cost of the renovation depends on the size of the project and the property that you take on. However, the average is estimated to be around €20,000 (US$22,218) to €50,000 (US$55,545), which is relatively low in comparison to other countries. 

Bidding wars

The final thing to take into account is that this scheme has become very popular, so some areas are now actually offering bidding wars on their more desirable properties. This means that a €1 house may end up going for far more.

So where can I buy a €1 house?

Around 25 Italian municipalities, including some of Italy's most beguiling towns and villages, are currently involved in the scheme. From Puglia to Piedmont, click on to see some of the most desirable areas that you could move to.

Sardinia

If you’re looking for island living then head to Sardinia. Boasting endless coastlines and a multitude of €1 homes, the towns of Romana and Nulvi in the Sassari province have both signed up.

Sicily

Sicily is known for its coastline, its wine, its arancini, and its €1 house schemes! The area is packed with beautiful small towns that have signed up, including Mussomeli, Calatafimi Segesta, Augusta, Sambuca, and Caltagirone.

Puglia

Puglia is one of Italy’s most desirable tourist destinations and their provincial capital of Taranto is actually on the scheme. With almost 200,000 inhabitants, this was one of the first big towns to sign up and is ideal for anyone looking to live in a more bustling environment.

Emilia-Romagna

Despite being an incredibly wealthy area, some of Emilia-Romagna’s towns are struggling and looking for a boost from the €1 scheme. Located just around the corner from Bologna, the towns are known for their stunning landscapes and medieval architecture.

Campania

A coastal region that includes the Amalfi Coast, Campania is close to Naples but offers a very different lifestyle. Ideal for anyone looking for a quiet life, some of the properties on offer are in towns like Pietramelara, which is home to only 15 families.

Liguria

Cradling the Italian Riviera, Liguria’s towns of Triora and Pignone are also on the scheme. Known for their colorful fishing villages, delicious pesto, and world-famous focaccia—these €1 homes are a true steal.