Buying a house on Sicily for 1 euro

Not so long ago, the news has scattered around the world that real estate is being sold in Italy in Sicily for 1 euro. And this is not a myth - houses are really put up for sale at the specified price.

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However, there are some conditions that must be fulfilled when buying. What nuances are hiding behind this, cheap offer? Consider the reasons for the cheapness of houses and the circumstances of the purchase.

The reason for the low price of houses in Sicily

Selling houses on Sicily for a symbolic price, applies to remote provincial cities of Italy.
The purpose of such a share is to attract potential residents to this territory. Small picturesque cities of Sicily, also suffer desolationLike most provinces in other countries. The developing part of the population prefers living in large cities where there is more chances for self -realization and employment. Therefore, provincial regions remain less in demand and sparsely populated, Many residents leave their homes.

To find a way out of the situation and solve once and for all the problem of demography of the city, the administrative authorities of the region, decided selling real estate in an unpopular area at a symbolic price - 1 euro. However, this action has one requirement for the buyer - the purchased house must be repaired for your own money.

It is worth noting that such repairs are not the cheapest pleasure. Some buildings need overhaul, there is no heating or overlap on the roof, the facade and internal walls are destroyed, electric wiring and bathroom require a complete replacement.

What obligations are assigned to the buyer of the house in Sicily?

Agreeing to the acquisition houses in Sicily, The buyer must, after the conclusion of the transaction, provide a plan of repair work during the year. You need to perform the planned work on time - no later than three years, after the purchase.

It is also necessary to pay the collateral amount to the treasury of the city. This amount is - from 5 to 8 thousand euros. It is important to know, failure to fulfill the conditions for housing repair on time, gives the city administration the right not to return the amount of the pledge to the buyer.
The agreement on the sale of housing, may indicate the period in which it is prohibited Resell this real estate. The new real estate owner has the right to independently select specialists to carry out repair work, as well as apply to this request to the city administration. To submit an application for the purchase and registration, you will need: transfer of a passport certified by a notary and Italian TIN.

What are the shortcomings of buying a house in Sicily?

Considering the agreement on the acquisition of possessions in Sicily, it is necessary to take into account the following points that can be attributed to the disadvantages of this transaction:

Buying a house on Sicily for 1 euro It does not give rights to receive Italian citizenship. Italian laws do not consider real estate as a reason to simplify the procedure for adopting citizenship, for this, it is necessary to live in the state for 10 years and make a number of requirements.
High cost of notarial services. Reference of documents can reach the amount of 4 thousand euros.
The refusal of the previous owners from the sale. It is necessary to be prepared that the cost of traveling with a new acquisition may be in vain. Until the official conclusion of the transaction, the previous owners have the right to terminate the agreement without reimbursing transportation costs.
The final cost of the repair. Some houses are in a state that requires great investments in restoration work. If you calculate the amount of costs for recovery, it can be seen that sometimes, it reaches the average cost for finished housing in Italy, and sometimes exceeds it. Is there any benefit from such a deal? Preliminary calculations showed that the cost of restoration of one square meter reaches - about 1 thousand dollars.

Buy a house on Sicily: Positive Sides

If you discard all the difficulties and large volumes of financial investments, you certainly buy a house on Sicily for 1 euro - this is a positive contribution:

Sicily is one of the most picturesque corners of Italy. In addition to historical temples and excellent old architecture, there is an excellent kitchen and hospitable indigenous population. The island of three seas is washed, therefore it is one of the tourist interests. Having real estate in this resort region is a find for lovers of Mediterranean relaxation and a quiet cozy atmosphere of the province.

If compared prices for food and services With large cities, you can immediately see the difference - life in a small town is cheaper.
For people who dreamed of living in Italy are a wonderful opportunity. Despite the high final cost of the reconstruction of many projects, yet the price of this housing is several times lower than buying a new premises. Especially the action is tempting for those who are not fundamentally metropolitan residence in the country.

Buy a house in Sicily: the main regions

On the island of Sicily there are several regions of houses at low cost. Here is their list:

Mousseli - The Italian commune, counted to the administrative center of Kaltanissett in Sicily.
Sambuca-di-sycilia - A small town, near Agridento.
Ganji - Settlement near Palermo.
Salem - A small village, not far from Tramani.
Ragalbuto - Province, near the city of Anna.

Tips for those who want to buy a house on Sicily for 1 euro

If, nevertheless, this idea with buying a house in Sicily for 1 euro, it seems to you interesting, you need to take into account a few useful tips from people who have gone all this way:

In Italy, there are many cities that hold such promotions - do not limit yourself to one region. This will expand the options to search for a successful offer.
It must be taken into account that your the costs will exceed the declared amount of 1 euro. Nevertheless, you will have to accumulate a certain amount before daring to this purchase.
Despite the fact that the information on the official website of the municipality of cities indicates that only EU citizens can take part in the program - trading is open to everyone.
Inspection of houses can be done independently. On each of these premises, there is a special announcement by which it is easy to determine that this housing is put up for sale at a symbolic price. Having chosen the necessary option, we must report this to the city administration, to conclude a further transaction.