Tiny town in Sicily is selling homes for less than $2
May 09, 2019 - Sicily
The town of Mussomeli, in southern Sicily, is selling abandoned properties for just $1.60 (or about one Euro).
While this might seem like a deal that’s too good to be true, there is a catch — anyone who buys one of these low-cost homes must agree to renovate it within a year. If not, the buyer loses their security deposit (about $8,000).
Local architects and engineers are on hand to help with the work but buyers can chose to get outside help if they prefer.
Small towns in Italy are having trouble holding on to residents, as many are apparently leaving the countryside to live in more urban areas.
This has left many of these villages struggling to fill abandoned homes — there are about 100 abandoned homes for sale in Mussomeli, with about 400 more expected to be added.
Mussomeli, which sits two hours south east of Palermo, has Byzantine caves, a medieval castle as well as numerous ancient churches to sweeten the deal.
In that case, buyers have to agree to invest $17,000 to fix up the homes over a three-year period.
blog, Estate of the Day