Dwindling Italian towns have recently been pulling out all the stops to lure new residents, with several one-euro home schemes launching nationwide.
But while some towns have struggled to find buyers for their abandoned buildings, others have been basking in the glory of successful sales.
After seeing massive demand for its previous home sell-offs in 2019 and 2021, Sicily’s Sambuca di Sicilia is preparing to put a third batch under the hammer, starting at 3 euros, or just over $3.
“We just want to make it clear that by numbering these batches, more sales will likely follow in coming years,” newly elected mayor Giuseppe Cacioppo tells CNN. “Foreigners are flocking to buy our homes; it’s been a hit so far.”
Cacioppo encourages potential buyers heading to the region to visit the town and check out the 12 homes up for grabs this time.
According to Cacioppo, the available homes in the old Saracen district are as “structurally stable as those so far sold” but need a restyle.
Sambuca made global headlines in 2019 when CNN announced it was selling 16 dwellings for one euro. Two years later, the town offered two euros for a second batch of homes.
Cacioppo says the fire sale, which lured international buyers as far as the Middle East, has helped to revamp the local economy with an influx of 20 million euros (around $21.8 million).
This includes turnover from new B&Bs, new shops opening in the town, and contracts with builders, architects, surveyors, interior designers, and notaries.
“The two batches of houses, owned by the town hall, revitalized the private real estate sector. People rushing to grab one at auction but didn’t make the final cut bought a cheap house instead. So far, 250 homes have been sold,” says Cacioppo.
Sambuca’s triumphant efforts to sell its empty homes are primarily credited to the local authorities, who own the abandoned dwellings they hope to offload.
Other depopulated Italian towns, such as the medieval village of Patrica, located south of Rome, have attempted to launch similar schemes but have struggled to track down the former owners and gain permission to sell their empty homes.
Sambuca’s authorities took possession of the town’s abandoned houses after an earthquake struck the surrounding Belice Valley in 1969, sending locals fleeing and leaving behind empty homes.
“Rome’s government back then approved a specific law for Sambuca’s revival that granted the town hall ownership of the abandoned homes, so we can dispose of these as we wish, and there are no middle agencies,” says Cacioppo.
This means the sale process is much faster, as the local authorities don’t need to liaise between owners and buyers.
The homes on offer this time consist of single, two to three-bedroom, 50 to 80-square-meter houses built with golden-brownish stones and spread over one or three floors.
Many have iron-wrought balconies overlooking cobbled alleys, panoramic terraces, and original green-painted old wooden doors with decorated arches and windows.
Those in the best condition feature tiny internal Moorish courtyards with lemon trees and old painted majolica tile floors.
But most badly, they need repair and are filled with forgotten items and piles of broken, dusty furniture.
Depending on the condition of the property, restyles usually start at €30,000 (around $32,500) for a simple makeover but can rise to over €200,000 (roughly ($217,000) if buyers plan to turn the house into a luxury retreat.
One American couple who purchased a bargain home in the town went on to add an internal elevator.
Many buyers who won the previous bids eventually bought more properties in town.
These were often attached homes, which could be expanded into one big property.
Locals have rushed to sell off garages or old abandoned attics to cash in on the high demand.
Most people lured to this remote spot in Sicily, far from the touristy crowds, are from the US.
This has helped to create a “Little America,” with most residents, even the elders, now speaking some English with a Sicilian accent.
Foreigners may have been a rare sight here before 2019, but they’ve become part of the landscape now, jokes Cacioppo, with a significant expat community now calling Sambuca home.
Last year, the town hall opened remote working spaces to lure global digital workers, offering free stays and strengthening its Wi-Fi connection throughout the narrow alleys.
“Our town is now definitely on the map,” says Cacioppo.
The Sambuca homes going up for auction in this latest scheme will be sold to the highest bidder, with the winning bid placed in a sealed envelope and opened in front of a judge after the application deadline.
Those participating in the auction must pay a deposit guarantee of 5,000 euros (around $5,430).
If they lose the bid, the sum will immediately be returned to them. But the 5,000 euros will automatically become their deposit guarantee if they win.
The scheme’s rules stipulate that buyers must complete the renovation work on their homes within three years or risk losing their deposit guarantee.
However, the town hall has been flexible on deadlines due to the pandemic, allowing more time to complete the work during and after the Covid-19 pandemic.
In the previous sales, houses eventually sold for between 1 and 25,000 euros (roughly $27,133), with most going for between 5,000 euros (around $5,426) and 10,000 euros.
Interested applicants can find photos and descriptions of the available homes and application forms on the town hall’s official website.
