Pros and Cons of Buying a Property in Italy for 1€

| January 29, 2019

Looking for a house with an affordable price? In Italy your dream can come true and you can be the owner of a house for the symbolic price of just 1 €.

As young Italians relocate to cities to find more job opportunities, some hamlets have launched this initiative to avoid depopulation. Sambuca is just the latest in a long list of villages adopting this scheme.

But there are some things you should consider before buying a property there.

PROS

1. The properties need a total restoration so you can totally follow your dreams choosing the best materials and fixtures, according to your taste and needs. Customize a traditional Italian property according to your needs.

2. The price is definitely more than affordable.

3. You will be the owner of a house situated in a small typical Italian hamlet rich in historic alleys breathing Italian lifestyle.

4. It is a perfect base for exploring the surrounding area that has so much to offer. It is very close to marvellous beaches and what is more living in the south of Italy means benefit from a very affordable quality of life.

CONS

1. € 1 is a symbolic price. Check carefully what you must do after you’ve bought the property. Usually buyers must spend a certain amount of money on the restoration, usually at least € 15,000. You should keep in mind that you will spend more in any case. In some cases you must also pay a deposit as guarantee, that will be returned once works are finished.

2. Usually the restoration works should be completed within a few years — often it’s three years — or you will lose the deposit.

3. Even if you won’t spend just € 1, this is a really convenient initiative for those looking for a second home in Italy. And for this reason the town halls have already received many enquiries from all over the world or many overseas have already bought a property there. So if you are looking for a place inhabited only by locals, many chances are that here your neighbour could be a non-Italian just like you.

See the complete list of property for sale in Italy at € 1.

19 thoughts on “Pros and Cons of Buying a Property in Italy for 1€

      1. PETER JOHN RAYBONE

        Hello,
        Can you supply me with details of all the properties available, and any clauses that may be in place.
        Will the land and property be Freehold.
        Kind regards,
        Pete Raybone.

        Reply
        1. Gate-away.com

          Hi Peter,

          If you want to buy a house in Sardinia for 1 euro you need to contact directly the town hall of Ollolai and see if there are still properties available and details. You can find all the contact details on the town hall website.

          Reply
  1. John Lindholm

    Hi I would like some information about the properties. Pictures and location etc.
    And a person I can ask for more information about the buy.
    I am from Norway and don’t speak Italian.

    Please send me a mail

    John Lindholm

    Reply
      1. Gate-away.com

        Hi Valerie,

        If you want to buy a house in Sicily for 1 euro you need to contact directly the town hall of Sambuca di Sicilia and see if there are still properties available. You can find all the contact details on the town hall website.

        Reply
  2. elias bomben

    im interested in the process, please inform me of the next step. not looking for anything grand,

    Reply
  3. Mark Hill

    I am interested in looking at properties and exploring the process. I speak some Italian but not good enough for business. Is there an available supply of local contractors/tradesmen who could perform the renovations timely and appropriately? Please advise . Thank you, Mark Hill

    Reply
  4. Bernardo Sorrentino

    Hi I would like some information about the properties in Sardinia. Pictures and location etc.
    And a person I can ask for more information about the buy.

    Kind regards
    Bernardo Sorrentino

    Reply
    1. Gate-away.com

      Hi Bernardo,

      If you want to buy a house in Sardinia for 1 euro you need to contact directly the town hall of Ollolai and see if there are still properties available. You can find all the contact details on the town hall website.

      Reply
  5. Eka Putra

    So basically i spend 15k euro for 1 house?
    Its kinda cheap for me.
    I interested for this house. I love pizza. So i should move there.
    And i come from Indonesia. Say hello to indonesian fellow who want to buy this house too 🙂

    Reply
    1. Gate-away.com

      Hi Sorina,

      We don’t have property for sale at €1 on our website. You should check directly with the town halls and see if there are still properties available for that price.

      All the best,

      the Gate-away.com team

      Reply
  6. Sanat Kaul

    I’m interested in a €1 house in southern Italy or in Sicily or Sardinia
    Can you please help?
    Sanat Kaul

    Reply
    1. Gate-away.com

      Hi Sanat,

      We don’t manage properties for sale at €1.

      If there’s still something available you should contact directly the town hall (comune) of the place you are interested in.

      All the best,

      the Gate-away.com team

      Reply

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