Fair and square. Authorities are selling houses in Sicily for €1

Aug. 7, 2014

Fair and square. Authorities are selling houses in Sicily for €1

If you have an extra euro, you can spend it on buying a house in Sicily. Authorities of village of Ganji whose population is rapidly shrinking, decided to improve demographics by selling 20 abandoned houses for €1, according to ee24.com citing thelocal.it. 

While Italians are leaving the village in search of work, foreigners can take their place. Ganji population dropped to 7,000, but the municipality struggles for new inhabitants and actively promotes its generous offer in overseas markets. Of course, 1-bedroom houses in a poor state are not the same as luxury villas, but nevertheless they are suitable for living. 

The authorities do not hide the fact that in addition to the declared value future owners will have to spend around €6,000 for fees and taxes - this is the usual amount when buying real estate in Sicily. Also buyers will have to sign an undertaking to renovate a house within five years, which will cost about €35,000.