Italy’s small towns and districts have been struggling with urbanization, leaving many homes abandoned and neglected. However, these towns have found a solution by offering houses for sale at just one euro, attracting buyers from around the world. Despite the success stories in the media, the “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 due to legal and familial barriers. The current mayor, Lucho Fiordlisso, has been trying to sell dozens of old houses in the village but has faced 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 interested parties withdrew at the last moment due to family conflicts, two houses were eventually sold for one euro each to local residents looking to get rid of family assets. Legal barriers have prevented more houses from being sold despite interest from international customers. Some buyers find the cost of renovation too high and opt for more expensive properties in the area. Despite this setback, there are still many people interested in buying a house for one euro as it seems like an attractive investment opportunity.
The sale of these houses in Italy for one euro has sparked mixed success among buyers who find it difficult to navigate through legal and familial challenges involved in the process. While some find it an attractive opportunity, others may find that it’s not worth it due to these obstacles.
In conclusion, while there are obstacles facing Italy’s “houses in euros” business model, many people are still interested in purchasing homes at a discounted price. However, potential buyers should be aware of legal and familial challenges involved before making a final decision on their investment.
Many foreigners with Italian descent or connections through tourism have purchased old houses in charming villages across Italy and renovated them into vacation homes or rentals.
The municipality was able to get consent from some homeowners and market their properties for sale but faced challenges when attempting to locate descendants of original owners who had left their country.
Ultimately, while some buyers found that renovating these properties was too expensive or complicated due to legal issues related with ownership rights and family conflicts that may arise during renovation process which led them withdraw at last minute resulting only 2 properties were sold both local residents looking
