The Italian city of Sambuca, located in the Italian region of Sicily, sells homes for one euro ($ 1.14), aimed at curbing the decline of the population that the area has suffered in recent years.
The town, rich in history, is located on top of a hill, from which you can enjoy a privileged view of the Mediterranean. Despite the beautiful view, many inhabitants have left the area, looking for larger cities to live.
this it is not the first time that the region offers interesting investment offers, but in the new initiative the buying process is even simpler for interested buyers, since the municipality of Sambuca is the owner of all the houses for sale for just one euro.
"We are not intermediaries that act as a link between the old and the new owner, if you want that house, you will have it without delay", said the president of the municipality of Sambuca, Giuseppe Cacioppo, at CNN.
Moreover, there are conditions: new owners must commit to restoring their home within three years. In addition, buyers must make a security deposit, a sort of security deposit of 5000 euros (about $ 5,700).
The restoration work can involve more significant expenses, with values approaching 15,000 euros, as the houses in question are between 40 and 150 square meters and are very degraded. At the end of the restoration, the municipality guarantees to return the amount that has been deposited as a guarantee.
Cacioppo assures that buyers will not be disappointed by their investment because Sambuca "is known as The city of splendor"." This fertile land is dubbed the earthly paradise, we are located within a nature reserve, rich in history, surrounded by beautiful beaches, forests and mountains, it is quiet and peaceful, an idyllic retreat for a detox stay " , he added.
So far, ten homes have been sold, but there are still dozens of available homes, "in need of renovation".
The mayor reveals that he has received many purchase requests, in particular from other countries. "Foreigners come here, marveling at all this beauty," said Cacioppo, who hopes that the new residents will contribute to revitalize the small city, promoting the local economy and preserving local architectural gems.