Yes, it’s true that you can buy houses in Italy for around Rs 100 (1 Euro). This is part of an initiative called the “1 Euro Houses” project, launched by numerous small Italian towns and villages to combat declining populations and revitalize their communities.

Key aspects of the 1 Euro Houses program:

• Purpose: The primary goal is to breathe new life into historic centers of Italian towns that are facing depopulation. By offering houses at a symbolic price, municipalities aim to attract new residents, encourage the renovation of abandoned properties, and boost the local economy.
• Conditions: While the initial purchase price is just 1 Euro, there are significant conditions you must meet:
  • Renovation Commitment: You are obligated to renovate the property, as most of these houses are old and in need of substantial repair. You’ll need to submit a renovation plan within a year of purchase and complete the work within 2-3 years, depending on the municipality’s rules.
  • Renovation Costs: The cost of renovation is not included and can range significantly from approximately €20,000 to €50,000 (or even more), depending on the property’s condition and size.
  • Deposit/Guarantee Fee: Most towns require a guarantee deposit, ranging from €1,000 to €5,000, to ensure you are serious about the renovation. This deposit is usually refunded once the renovation is completed.
  • Other Fees: You will also need to cover notary fees, registration fees, and taxes associated with the property purchase.
• Locations: These 1 Euro homes are typically located in smaller, often picturesque villages and towns in various regions of Italy, particularly in areas facing population decline. Many are in Southern Italy, including regions like Sicily and Sardinia. Some participating towns include:
  • Zungoli (Campania)
  • Biccari (Puglia)
  • Mussomeli (Sicily)
  • Nulvi (Sardinia)
  • Fabbriche di Vergemoli (Tuscany)
  • Troina (Sicily)
  • Ripacandida (Basilicata)
  • Sambuca di Sicily (Sicily)
• Who can buy: Generally, anyone over 18 can buy, including foreigners, as long as Italians are allowed to buy property in your home country. You’ll need to obtain an Italian tax code to facilitate the purchase and tax payments.
• Finding 1 Euro Houses: There isn’t one central website. You can find listings and information on:
  • Specialized websites like 1eurohouses.com, case1euro.it, and property-in-sicily.estate.
  • Individual municipality websites. You’ll need to search for the specific town’s official website.
• Important Considerations:
  • Property Condition: Be prepared for properties that are often dilapidated and require extensive structural work. Inspect properties in person before committing.
  • Residency: While some towns may require you to live in the house after renovation, others allow you to use it as a holiday home or for business purposes. If you plan to live in Italy long-term, you’ll need to consider Italian residency requirements.
  • Competition: Popular locations may have bidding wars, potentially driving up prices beyond just 1 Euro.

In summary, buying a 1 Euro house in Italy is an opportunity to own property at a very low initial cost, but it comes with the responsibility and expense of a significant renovation project and adherence to the specific rules of the participating municipality. It’s an appealing option for those seeking a unique project and a life in a charming Italian village, but it’s essential to be fully aware of the commitments involved.