Pros and Cons of Buying a Property in Sambuca di Sicilia 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.

Sambuca di Sicilia is a picturesque village immersed in the nature in the Belìce valley, province of Agrigento (Sicily).
It was declared as the most beautiful hamlet in Italy in 2016 and it is not far from the archaeological park of Selinunte or the sea in Menfi, but also half an hour from Sciacca and 1.5 hours drive from Palermo.

If you think this could be the right location as your second home in Italy, you can apply for buying a house for € 1 by sending a request to the Town Hall via email.

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.

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: buyers must spend at least 15,000 € on the restoration. You should keep in mind that you will spend more in any case. Also you must deposit 5,000 € as guarantee, that will be returned once works are finished.

2. The restoration works should be completed within 3 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 hall 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.

8 thoughts on “Pros and Cons of Buying a Property in Sambuca di Sicilia for 1€

  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
  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

Leave a Reply

Your email address will not be published. Required fields are marked *