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Another Italian Village Is Selling Houses for Next to Nothing
Buy a House for Around a $1 in the Picturesque Abruzzo Region in Italy
You've seen the previous posts for incredibly cheap houses for sale in Italy more than once. It's true, you can buy properties in Calabria, Sicily and in the Aosta Valley for next to nothing. Now, the village of Pratola Peligna, located in the stunning Abruzzo region of Italy, has joined the list—and they are selling houses for around $1. Read on to learn more!
Details
Abruzzo is an Italian region with beautiful landscapes, charming villages, access to ski slopes and is only a 2-hour drive away from Rome. It has quite a lot to offer for visitors.
Currently, the region has joined the campaign to sell houses for €1 (a little more than $1) in the picturesque town of Pratola Peligna. Located in the Apennines, close to some of the best ski slopes in Italy, the hope is to bring life back to the village.
In the 1930s, the village had a population of 13,000 people, while today the number is only 7,000. Due to the population decline, there are about 630 abandoned buildings in the village, about 250 of those will be available for a symbolic €1 fee. The village aims to restore the splendor of the old historic center by encouraging people to move here.
Details and photos of houses ready for sale are regularly posted on the Pratola Peligna Town Hall website. To speed up the sale procedures, new rules were introduced to encourage the purchase and quick change of the style of the purchased house within a maximum of 3 years from the purchase.
What is noteworthy is that, unlike other cities selling houses for €1, Pratola Peligna will not require buyers to pay a deposit of up to €5,000 to ensure they renovate their new home. Instead, they face a €10,000 fine if they fail to provide a detailed construction work schedule within six months of purchase. This is only to ensure that the buyer undertakes the renovation.
The abandoned stone houses are in the historic district of Schiavonia. Some of the properties are in good condition, with elaborate stone decorations. A few are even furnished. Most of them, however, are ruins. The houses are quite small, about 753 square feet, and some have balconies, basements, attics, terraces or stairs.
More information on buying houses in Pratola Peligna can be found on the official website here.
What do you think, pirates? Would you be willing to take on this project to buy and restore a $1 house? Let us know in the comments!