Italian Abruzzo region 'home for 1 euro'

In italy's Abruzzo region, just half an hour away from roccaras ski resorts and Pescara beach, Pratola Pelinha started offering buyers homes for a symbolic fee of €1, writes Idealsta.

The city's current mayor, Antonello di Nino, who took office four years ago, has considered the return of residents to abandoned areas as one of the priorities throughout his term. The municipality was badly affected by the earthquake in Aquila, after which the authorities began to draw up a register of all buildings to be restored.

"We have conducted a census of all abandoned houses in this region. And after a year and a half of work, we realized that there are about 600 uninhabited buildings in the city," explains Antonello di Nino.

In most cases, it was not possible to find owners of empty houses. Some abandoned buildings were registered in the name of citizens born in 1890, the owners of other dwellings are already dead, and the process of transferring the estate has not even begun. The local authority enlisted the help of volunteers who recorded all such objects on the map and searched for heirs.

The owners who were found were given safety warnings about the security risks posed by the buildings they owned. However, it later became clear that many of them did not burn with the desire to do anything with their abandoned buildings, so the municipality decided to sell them for 1 euro.

As in many other similar cases, buyers who have purchased a property for 1 euro will have to undertake to renovate it within three years, ensuring the safety of the building. They will be able to receive the so-called "seismic bonus", so they will be able to take advantage of special tax benefits when renovating buildings. In addition, the new owners will be able to decide for themselves what purpose – commercial or residential – their real estate will be. The municipality promises not to impose any restrictions on this.

Promotion "Houses for 1 euro" In Italy, it has become quite commonplace. Houses can be purchased for a symbolic fee, but by committing to renovate them, in different regions of the country. Italy's example was followed by Greece and France, which, in order to attract residents to the empty regions, also began to offer to buy or rent real estate for a symbolic fee.

Source: In the Abruzzo region of Italy, the campaign "houses for 1 euro" - Real Estate News