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  1. Housing
  2. Home Buying

This Italian Village Is Selling Fixer-Uppers for Less Than $2

Published: May 09, 2019 2 min read
Historic centre of Mussomeli, Sicily, Italy
Historic centre of Mussomeli, Sicily, Italy
imageBROKER—Alamy

A rustic Italian town is selling houses for one euro — as long as you fix it up.

Mussomeli, a hilly village near the center of Sicily, is one of the latest Italian locales to offer fixer-upper homes at apparently bargain basement prices, News.com.au reports. The city-run program, called Case 1 Euro, began in April and currently lists 138 Mussomeli homes being sold for €1, or the equivalent of $1.12 USD.

The promise of hyper-affordable real estate might sound tempting, but scoring a $1.12 home isn't quite as easy as adding it to your digital shopping cart. Homeowners must renovate the home in three years or lose a €5,000, or $5,595 USD, deposit, according to the website. Additional transaction-related fees, which range from administrative fees to taxes, can run a homeowner up to about $4,500 USD, the program says. And that's not even counting the plane ticket — potential buyers must visit the home for an inspection before offering, according to the website — and the homes' renovation costs.

Mussomeli is not the only Italian town to offer houses on the cheap. Both Sambuca di Sicilia and the Sardinia town of Ollolai have employed similar programs. Those looking for their Italian dream house — or just interested in learning more about the program — can visit case1euro.it.