In recent years, small towns and districts in Italy that have been emptied of residents due to urbanization have found a solution to their abandoned and neglected houses. These towns offer houses for sale for only one euro, attracting buyers from around the world. However, the cost of renovation required by Italian laws falls on the buyer. Many buyers, especially those in the USA with Italian descent and a connection to the country through tourism, have purchased old houses in charming villages and renovated them into vacation homes or rentals.
Despite the success stories in the media, Italy’s “houses in euros” business faces obstacles. For example, the village of Patrica, located south of Rome, has struggled to sell abandoned houses for one euro. The current mayor, Lucho Fiordlisso, has been trying to sell dozens of old houses in the village, but faces challenges in locating descendants of the original owners who have left to immigrate to other countries. Italian law requires permission from descendants to sell the houses, making the process difficult.
While some buyers find this legal barrier too high and opt for more expensive properties in the area, others are willing to take on this challenge and buy these properties for one euro each. Despite interest from international customers like these American buyers with Italian descent looking to connect with their roots or purchase property as an investment opportunity, there are limited properties available for sale due to family conflicts and difficulty locating descendants of original owners who may have moved away or passed away without leaving any contact information behind.
