A village in Italy, which is famous for its popular 1 euro home ideas, is now selling homes at just 3 euros, approximately $3.2. The town of Sambuca di Sicilia on the island of Sicily is finding new ways to attract residents, as per a report in the New York Post. The new mayor of the town says that the plan has been a "hit so far" and "foreigners are flocking to buy our homes."
"We just want to make it clear that by numbering these batches, more sales will likely follow in coming years," newly elected mayor Giuseppe Cacioppo told CNN in an interview. There are 12 homes up for grabs and potential buyers are encouraged to check them out. There are one to three-story residences with two to three bedrooms that are constructed with golden-brown stones. Although they require some work to make them livable, these houses in the historic Saracen district are as "structurally stable as those so far sold."
"The timing is perfect. Tourists and interested buyers currently travelling to Italy, and those planning a trip in spring and summer can come to take a look," the mayor said.
Sambuca became popular in 2019 by selling 16 properties for one euro each. Another batch was sold for two euros after two years. Buyers from as far away as the Middle East were drawn in by this, which got 20 million euros, or around $21.8 million, into the local economy.
Unlike other abandoned villages in Italy that are struggling to obtain permission from their missing owners, the abandoned dwellings are owned by the town. "The two batches of houses, owned by the town hall, revitalized the private real estate sector. People rushing to grab one at auction but didn't make the final cut bought a cheap house instead. So far, 250 homes have been sold," Mr Cacioppo said.
An earthquake in 1969 earthquake forced the locals to leave leaving empty homes behind. "Rome's government back then approved a specific law for Sambuca's revival that granted the town hall ownership of the abandoned homes, so we can dispose of these as we wish, and there are no middle agencies," Mr Cacioppo added.
An American couple even installed an internal elevator in their home. A lot of buyers who acquired homes in earlier rounds went on to buy other properties, frequently merging related residences into a single, sizable estate. Locals are also selling off garages and abandoned attics in an effort to capitalise on the demand.
The majority of the residents are Americans, establishing a "Little America" in this isolated area of Sicily. Prior to 2019, foreigners would have been uncommon in this area, but they are now a common sight, according to Mr Cacioppo. In an effort to draw in digital workers, the town hall has even built remote-working facilities, providing free lodging and enhancing wireless internet connectivity in the winding lanes.
