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With UK property prices out of reach for many first-time buyers and homeowners dreaming of a sunny second home, the idea of buying an Italian villa for 86p is appealing.
In recent years, several small towns in Italy have been in the news for selling vacant houses for just 1 euro each.
But how does the scheme work, and who is eligible to buy these budget, sunny villas?
Why are houses being sold for 1 euro in Italy?
As young Italians move to cities, increasingly choosing international work over rural or community careers, many of Italy's most beautiful remote villages are being abandoned and their few ageing residents are starting to die.
Some older Italians have no one to pass on their homes to, so they bequeath them to local governments that must decide what to do with them, while younger citizens have inherited property in areas they have no intention of moving to.
Read more: What is it actually like buying a home through Italy's 1 Euro Housing Scheme?
Owning a holiday home in Italy means paying taxes, so selling an unused home cheaply can be more profitable than holding on to it.
So around 25 Italian municipalities are making prospective home buyers an offer they can't refuse: a home for the symbolic price of just 1 euro.
The idea is that improving these homes and getting them occupied over the next few years will be more valuable to the town than selling them at full price.
“We don't need new buildings or excessive construction. The strategy to improve the housing environment and recover our cultural identity is to revive small abandoned centres and redevelop buildings in a state of ruin, with the stories of our history,” a statement from the 1eurohouses.com team read.
Local governments in regions such as Emilia-Romagna, Abruzzo and Campania are also hoping that an influx of new homeowners will stimulate their economies by buying locally grown produce, hiring local construction workers, investing in local facilities and attractions, and even building boutique hotels and bed and breakfasts to boost tourism.
What are the pitfalls?
You're not buying a shiny new villa – the homes selected for the scheme are often dilapidated and in need of significant structural improvements – you're investing in a home that needs repairs, not a home that's ready to move into.
However, renovation costs are still relatively low compared to other countries, ranging from around 20,000 to 50,000 euros depending on the size of the property.
Most of the homes are modest village houses or cottages, but there are also some rather pricey luxury homes for sale: The seller of this former monastery on the outskirts of Bologna estimates that a basic renovation will cost €1.5 million.
Legal fees for buying a home abroad can add €3,000 to this, and some local authorities may require a “guarantee fee” (between €1,000 and €10,000 depending on the municipality and the cost of the renovation project) to prove that you are keen to improve the property.
On the positive side, Italy offers buyers a “super bonus” tax exemption that covers 110 percent of eligible construction costs.
Nor can they make vague promises to renovate the new property in the future: the new owner must submit details of the renovation project within two to 12 months of purchase (depending on the location), begin work within a year, and complete it within three years after that.
It's also worth noting that not all properties sell for 1 euro: the more popular ones are subject to bidding wars, with some even selling for 5,000 or even 20,000 euros.
So this is a scheme for people who have some savings saved up beyond the initial euro.
Who can afford a 1 euro house?
“Really or is this a joke?” reads one passage on the website case1euro.it, which lists a one euro property currently for sale in Mussomeli, 60 miles south of Palermo, Sicily.
This is no joke. Rules vary from town to town, but in Mussomeli, a buyer must have the financial and practical means to:
Support all costs for the preparation of the sale deed (notarization, registration, transfer) Prepare the renovation project for the property within one year of purchase and obtain the necessary permits Start work within two months from the date of issue of the building permit Complete the work within three years Pay a “guarantee policy” deposit of GBP 5,000 (£4,314), which will be lost if work is not started within three years
In Mussomeli, the interior of the building can be freely designed, but the exterior must remain in its original state.
The small print explains that you have the right to renovate the property yourself, or with a worker of your choice.
That's the approach taken by French buyer Morgane Guiot and her husband, who told CNN in 2019, “We're both craftsmen and renovators, so we did most of the work ourselves. There was minimal work, but it was amazing to see the two-room house come to life again.”
Most towns with 1 Euro housing schemes have similar financial requirements. You'll need to check the specific requirements of the town you want to buy in. Some towns require you to live in the home after renovating it, while others allow you to buy it for use as a holiday home or a small business such as a B&B.
Buyers who do not reside in Italy or do not speak Italian may encounter more obstacles when it comes to arranging work and being able to take advantage of the property.
Has Brexit affected Brits' ability to buy a home?
People living outside the EU can also buy property in Italy, but only as “non-residents”, which means they pay higher taxes than locals and can spend up to 180 days a year in their Italian home, but not more than 90 days out of those 180.
To visit more frequently, you would need to apply for an Italian residence permit, which involves proving you have enough funds to support yourself without getting a job in Italy.
Still interested? How do I get started?
You can find houses for sale for 1 euro on websites such as 1eurohouses.com, case1euro.it, property-in-sicily.estate, and even on the websites of local municipalities in Sicily, such as Sambuca or Città de' Troina.
Auctions2Italy also lists some €2 properties across Italy, and Europe.properties has case studies and “how to” guides.
Rubia Daniels, an American buyer who bought and renovated a €1 home in Sicily, told Travel + Leisure in 2022 that it's essential to go and see any home you're considering buying in person, including inspecting the condition of the foundations and walls.
“Never try to do it online. You have to see it in person, go through the process and make a careful decision,” Daniels said. “I don't do anything over the internet.”
“Don't put anything where the wall is warping because that indicates there are problems with the foundation,” she advises.
Areas with 1 euro housing scheme
Emilia-Romagna
In northern Italy, around Bologna, homes are for sale in leafy, ancient ruin-dotted towns such as Modigliana (where you can buy the ruined monastery mentioned above).
Abruzzo
This coastal region east of Rome is home to a number of towns that are giving away vacant houses by lottery, including Casoli, Santo Stefano di Sessanio and Prato La Peligna.
Campania
On the dramatic volcanic coastline around Naples, close to Pompeii and the Amalfi Coast, properties are on the market for €1 in places like the nearly abandoned Pietramelara, where just 15 families live these days.
Sicily
Sicily has become a hotbed of one-euro home sales schemes, with unwanted and unclaimed homes being put up for sale in sleepy Mussomeli but also in towns such as Calatafimi-Segesta, Augusta, Sambuca and Caltagirone.
Piedmont
In this northern region close to Switzerland, homes in towns such as Borgomezzavalle and Albugnano are close to famous wine-growing regions and the wooded Antrona Valley, perfect for outdoor activities.
Marche
In the medieval town of Cantiano, a 40-minute drive from the coast, near white-pebble Adriatic beaches and truffle-hunting spots, one-euro houses are for sale.
Liguria
Triora and Pignone are two areas in this region, famous for the colorful fishing villages of Cinque Terre, as well as pesto and focaccia.
Puglia
Puglia's capital, Tento, with a population of 195,024, was one of the first large cities to launch a one-euro case scheme, showcasing buyers its maritime history and excellent seafood.
Sardinia
The towns of Romana and Nurvi are located in the province of Sassari on an island outside Alghero and both are taking part in the scheme to sell homes for 1 euro.
Tuscany
Montieri, Grosseto, Lucca and Vergemoli are some of the participating cities in Italy's divine wine and villa paradise.
