Why does Italy sell houses for 1 euro?
In recent years, some small towns in Italy have caused a stir by selling houses for The price is only 1 euro (nearly 27,000 VND). This attracts many Europeans when house prices in the UK or some other countries are out of reach.
Why does Italy implement this policy?
< p>In fact, young people in this country are increasingly migrating to big cities and choosing modern, international jobs. Jobs in the countryside are no longer their choice in many villages Remote countryside in Italy is being abandoned while the population is small and aging.
Owning a second home in Italy means the owner has to pay taxes. So many people want to Selling unused houses is better than holding on to them. Therefore, about 25 towns in Italy offer a symbolic price of 1 euro to welcome the future owners of these houses.
They hope that renovating the house at a low cost will bring income to the buyer when the value of the house increases compared to the symbolic original price. These localities hope that housing improvements will help revive abandoned small towns as well as regain cultural identity.
These houses are published on the 1eurohouses website .com.
Local authorities in areas such as Emilia-RomagnaAbruzzo and Campania also hope a wave of new homeowners will stimulate the economy. They hope this wave will stimulate consumption of local products, hire construction workers, pour money into local places and attractions, and even promote travel by creating hotels or homestays.
House Which one costs 1 euro?
These 1 euro houses are not new but are often degraded and need major structural renovation. Buyers are investing in a house that needs renovation, not buying a house that is ready to move in.
However, renovation costs are still relatively low compared to other countries around 20,000-50,000 euros (523 million VND – 13 billion VND) depending on property size.
Most houses are small village houses or cottages. Some homes with historic features are also listed for sale at much higher prices. For example, an ancient monastery on the outskirts of Bologna estimates that the necessary renovation could cost 15 million euros.
Who can buy 1 euro house?
On the website case1euro.it, the conditions for buying a house for 1 euro in Italy are clearly stated. Accordingly, the buyer must have enough money to carry out legal procedures, licenses, deposits, renovation projects, construction permits.
Some localities also have regulations on ensuring the status quo. facade of the house. Some areas require buyers to live in the home after renovation, while others allow conversion of the home into a vacation home or small lodging business.
Buyers who do not reside in the home Italians or non-Italian speakers may face more barriers to purchasing this type of real estate.
People who do not live in Europe can still buy real estate in Italy as “non-residents. This means buyers pay higher taxes than locals and can spend up to 180 days per year at the house but no more than 90 days on any occasion.
To visit more often they will must apply for residency in Italy, including proving that they have enough money to support themselves without having to work in this country.
Rubia Daniels – an investor from the US – said Know that buyers need to come directly to see and check the actual condition of the house before deciding to spend money even though the price is very cheap.
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