Apr 05, 2023
The "Home for One Euro" program in Italy: how the scheme works and whether it is worth the gamble
The famous program “A house for one euro” is available to foreigners, including those from Russia. We tell you what you need to be prepared for when buying a “free” home, how to apply, where to look for such objects and whether the deal gives the right to an Italian residence permit.
🏠 Home for one euro in Italy: how it works
The sale of real estate for one euro is an initiative of the Italian government, which extends to many remote Italian municipalities.
The aim of the action is to stop the outflow of population, promote economic development of settlements and restore the aesthetic appearance of such settlements.
Even non-residents of Italy have the opportunity to join the program of houses for €1.
Conditions for participation in the program
🟣 Submit a building renovation project within the period set by the municipality. This period is usually one year from the date of purchase of the property.
🟣 Pay the transfer taxes and pay the notary fees.
🟣 Start and finish the work within the time frame set by the municipality. The maximum period of repair and restoration work is three years.
🟣 Pay a refundable insurance deposit as a guarantee for the construction work (€1-10 thousand).
💶 Where to look for houses for one euro?
Homes for one euro can be found in both the north and south of the Italian peninsula, so buyers have a wide choice.
For a full list of municipalities and locations on a map, see here. However, most of these offers are concentrated in the southern provincial areas of the country.
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