In a small Italian village, houses cost just €1

In a small Italian village, houses cost just €1

24.06.2020 18:00

The housing sale for a song started in the Cinquefrondi commune, located in the south of Italy in the region of Calabria. According to CNN, this village is one of a few in the country that has not been affected by the coronavirus. During the entire pandemic period, no cases of infection were detected here. The commune authorities have already announced this to the whole country, declaring themselves «a village free of coronavirus». Local officials hope that this status will attract even more attention from buyers.

The purpose of sale

The purpose of the campaign is to increase the population of the Cinquefrondi commune. Like other Italian villages, it faced a problem of resident outflow to major cities. Young people in search of better working conditions are leaving the commune most actively.

The name of the offer — «Operation ’Beauty’» - shows how important for the village it is. The local mayor, Michel Conia, also takes the problem seriously and hopes that empty houses will be filled soon because otherwise, they can pose a danger.

The offer terms

A significant requirement awaits buyers who purchase a €1 housing: to complete the property restoration. Until the work is completed, the Cinquefrondi authorities ask the owners to pay annual insurance of €250. If the new owners are not able to complete the restoration within 3 years, they will face an impressive fine of €20.000, which must be paid to the municipality.

The city authorities are confident that the property owners will be able to perform restorations in time. In their opinion, 3 years is enough to do it. Besides, the €1 housing area does not exceed 40-50 square meters, which significantly simplifies the work.

Which properties are being sold?

In Cinquefrondi, for a trifling sum, one can purchase a property located in the old part of the city. The objects presented previously belonged to shepherds, artisans, farmers and tanners. Despite their shabby appearance, some houses have their advantages. For example, many buildings have a balcony with the area view.

In total, about 10 houses were put up for sale. If they arouse demand from buyers, the commune authorities hope to sell off other 40 empty properties in the future.

Source: Prian