You can buy a house in Italy for only 1 euro: but there are certain conditions

Amid worries about rising property prices and daunting interest rates, the picturesque town of Sant'Elia a Pianisi in Italy's Molise region offers a good alternative. Traveller365.

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This picturesque village has eight properties for sale at an incredible price of just one euro.

While this may seem like a dream come true to potential homeowners, there are some conditions to consider. The homes are in desperate need of repairs, and buyers are required to pay a $5276 security deposit before any necessary work can be done. In addition, they will still be responsible for all standard costs associated with owning a home.

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But that's not all. The mayor of Sant Elia a Pianisi laid out some strict rules for new residents. Within six months of purchasing the property, they must submit a renovation plan to the local authorities, and these renovations must be completed within three years. The city favors buyers who are looking to hire local workers, use local materials, and complete renovations as soon as possible.

So why all these requirements? It is hoped that investment and renovations from new homeowners will give a boost to the city's economy. In addition, it encourages a sense of community and a strong connection to the city's future.

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The €1 houses in Sant'Elia a Pianisi are part of a larger effort to revive declining Italian towns, where young Italians often leave to find work in big cities. Many regions are now adopting affordable homeownership strategies such as this one to revitalize their villages. Celebrities such as British talk show host Alan Carr and Sopranos actress Lorraine Bracco have already taken advantage of this opportunity.

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You can explore all the houses in Italy worth 1 euro on Online, which presents charming properties in regions such as Emilia-Romagna, Abruzzo, Campania, Sicily and others.

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