Abu Dhabi, UAESunday 18 August 2019

Homes in this Italian town are being sold for Dh4

It is hoped the scheme will bring new life to the Sicilian hilltop town

A view of the village of Sambuca di Sicilia, Italy, where homes are being sold for Dh4
A view of the village of Sambuca di Sicilia, Italy, where homes are being sold for Dh4

Italy’s coastlines are known to be some of the most beautiful in the world, with stunning views of the Mediterranean and endless rural sandy beaches.

And if you fancy living the Italian dream, you could buy a house in the quaint town of Sambuca for just €1 (Dh4).

While it may sound too good to be true, the homes are being sold off for the tiny price in the hope of rejuvenating the hilltop town and attracting more people to the area.

Sambuca, found on the southern Island of Sicily, has seen a number of its native residents abandon the town in favour of larger Italian cities, but officials hope that will change with the new scheme.

The homes, which range from 40 to 150 square metres, may only come with a €1 price tag, but they will need a lot of work. The condition of the deal states that owners must invest €15,000 (Dh63,000) into refurbishing the properties within three years of signing the contracts.

In order to ensure this happens, city officials will take a €5,000 (Dh21,000) security deposit which will be returned once work has been completed.

This is not the first time Italian officials have set up schemes like this, but buyers from around the globe are now eligible to invest in the Sambuca properties.

“As opposed to other towns that have merely done this for propaganda, this city hall owns all €1 houses on sale,” Sambuca’s deputy mayor and tourist councillor Giuseppe Cacioppo told CNN. “We’re not intermediaries who liaise between old and new owners. You want the house, you’ll get it in no time.”

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Updated: January 18, 2019 12:03 PM

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