In a town in Italy, historic homes are up for sale for the price of a coffee. Abandoned houses are being sold for one euro in order to halt the decrease in population. Since the project started in 2022, 6 houses have been sold, mostly to Italians, and the sale of other houses is planned in the coming weeks.

Houses in a town in Italy are available for sale for just 1 euro, provided that they are restored. Abandoned houses in the town of Penne, in the Abruzzo region, are being sold for one euro.

“TOWN TURNING INTO A GHOST TOWN” Mayor Gilberto Petrucci of Penne stated, “There are over 40 empty houses waiting for their new owners in the town, all of which are located in the historic center.”

“Our total population is around 1,200 people, yet only about a thousand reside in our magnificent historic area. This place is at risk of turning into a ghost town,” he said.

FAMILIES MIGRATED OVER THE YEARS

Petrucci mentioned that most of the houses belonged to farmer families who left the town after suffering damage during World War II, with other families migrating to work in factories in the 1970s in the United States, Belgium, Venezuela, and nearby larger towns and cities. Petrucci noted that the first 3 houses in the town were sold in 2022, with the other 3 sold last year, and the latest houses put up for sale have similar features. Describing these houses as very old, Petrucci mentioned that some were built as far back as the Middle Ages and restored during the Renaissance. RESTORATION IS A REQUIREMENT Providing information on the sales process, Petrucci said, “The only requirement is for buyers to commit to restoring these houses within three years. However, we do not require a down payment to start the work. We truly want to encourage and support those who come to revive the ancient neighborhood,” he said. According to the mayor’s announcement, the initial cost of renovating a small to medium-sized house would be around 20,000 euros.

Houses in and around the town that are in habitable condition and do not require restoration are said to start from 40,000 euros.

OTHER TOWNS ALSO SOLD AT 1 EURO Houses in Zungoli near Naples, Mussomeli on the island of Sicily, and Sambuca towns in Italy have also been put up for sale at 1 euro. It has been noted that the foreign population in these towns has increased since the start of the project.