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The town of Castiglione di Sicilia organized a house sale for one euro. There are about 900 such properties. Most of the buildings are located in the oldest parts of the city. About half of them are abandoned and will be given to the new owners at a symbolic price of one euro. The rest are in better condition and will be sold at a price of €4,000-5,000, writes Travel.nine.com.au.
The mayor Antonino Camarda has embarked on an ambitious project to breathe life into the village, which population has declined from 14,000 in the early 1990s to almost 3,000 today. Many former residents of the town had migrated to Australia and South America in search of a bright future. Their descendants never returned, so the houses were abandoned.
"We need to save a huge architectural heritage filled with history. Over time, too many people have left, leaving behind many picturesque houses, dated back to the Renaissance, " says Camarda.
In Castiglione di Sicilia, property prices will be set according to the condition of each property. According to the mayor, the authorities conducted an in-depth study based on maps and land cadastre data. Therefore, the buildings will be sold at different prices, starting from one euro. If there are many bidders for the same object, an auction will be held.
As in many other places in Italy with similar offers, buyers will have to repair abandoned buildings within three years. However, unlike most similar schemes, the authorities do not require a deposit to guarantee the completion of the work. Instead, they offer the owners to apply for an insurance policy in the amount of €4,000 in the bank.
Taxes in Sicily are low compared to the rest of Italy. Buyers can also take advantage of the Italian government's "superbonus" program, which provides a 110% tax break on repairs if it makes the house environmentally friendly.
Built on a hillside, the city is divided into several districts located at different heights. The old center is a maze of arched cobbled streets and buildings with gargoyle-decorated portals.
The houses for sale are located along the main road leading uphill to the castle crowning the town and to the panoramic square paved with lava stones. Buildings for one euro are usually dilapidated cottages that once belonged to pastoral and farming families. And more expensive options include elegant little palazzi, where the rural bourgeoisie lived.
Also read:
Italy Sells Houses for €1 Once Again
Where to Find property for Less than €1,000 per sq.m in Italy?
The Italian Village Received More Than 8,000 Requests for Free Accommodation
