Two cities in Sicily are selling houses for just 1 euro
The authorities of two Italian cities — Troina and Delia, located in Sicily — have launched similar initiatives. In order to attract new residents, they sell real estate at a nominal price. Those who want to move to the south of Italy for a song will have to make repairs in their homes since most of them are dilapidated.
Features of the initiative in Troina
The Mayor’s office of the Italian city put up dozens of empty houses for sale at a nominal price. CNN reports that the administration of Troina promises to help with the costs of repair work those who agree to move here for permanent residence.
The unusual initiative was launched at the end of November last year. Mayor of Troina, Sebastiano Fabio Venezia, hopes it should breathe new life into the old city centre. Most of the local population left long ago, moving to other cities or buying more up-to-date housing in the surrounding area.
To speed up the process of selling dilapidated houses, the mayor of the Italian settlement took several active measures. In particular, he built a team, which includes experts in real estate and law. They will provide guidance to buyers at all stages of the transaction. In addition, the mayor of Troina opened an online agency so that everyone could view the objects and send their projects for housing renovation to an email address. By the end of January, about 30 houses at a price of just 1 euro will have been posted on the site. Eventually, 100 more will be added to them, as soon as their former owners transfer the ownership of their housing to the city.
Terms of the initiative
Buyers of real estate in Troina will face a number of requirements:
- a security deposit of 5,000 EUR. The funds will be returned to the buyer when the repair work is done;
- repairs in the purchased housing must begin no later than 2 years after the signing of the contract;
- it is necessary to complete the repair work in 3 years after the date of purchase of the house.
Benefits for buyers
Those who purchase real estate in Troina will be granted a number of benefits. One of them is a bonus for repairs up to 15,000 euros. Also, 10,000 euros will be granted for energy efficiency measures. For those who do not want to repair dilapidated houses, the local authorities will allocate up to 8000 euros for the purchase of housing that does not require renovation. Among other advantages for buyers, the one that is worth noting — exemption from paying utility bills and property tax in the first 3 years.
Special features of the initiative in Delia
Idealista informs that Delia, located in the Sicilian province of Caltanissetta, is another Italian city that organized a sale of housing for 1 euro. According to the local mayor Gianfilippo Bancheri, this action was initiated due to the fact that many elderly immigrants who moved from Delia leaving their real estate here can no longer use it and pay taxes for it. As a result, the empty houses were severely dilapidated, and the historic city centre became deserted, as the local population preferred to live in the suburbs.
However, a new initiative, according to Bancheri, will lead to a resumption of activity in the construction sector in this area of Delia. The historic centre should be reconstructed, and young couples and people who can’t afford to buy a home will have a chance to get their own real estate. For those who want to buy a house in Delia for a song, there is only one requirement — to carry out repairs. This must be done so that the housing becomes safe and habitable.
According to the Delia city portal, the initiative with the sale of houses is caused by the fact that there is a large number of old buildings in the city, the condition of which requires immediate repair work. The launched initiative should help restore and increase the existing housing stock. First of all, the city administration seeks to revitalize the historical centre of Delia, so the main focus will be on new residential settlements, shops, tourist sites or craft workshops.