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An Italian Town Is Selling Houses For 80p

An Italian Town Is Selling Houses For 80p

While popular cities across the world from London to Paris are struggling to house all those people that want to live there, a small Italian town in Sicily is now having to give away homes for €1 (80p) to entice people to the area.

Sounds like a bargain to us - especially to live somewhere so stunning.

Now Bivona, a small town at the heart of Sicily is offering people the chance to buy dilapidated properties for less than £1, but you are expected to invest and restore the property within four years.

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You are also expected to put a bond of approximately £2,100 up front for the home. It acts as a deposit and will return it to you provided you finish renovations within four years of purchase. Sounds like a dream deal.

In essence, you gain a run-down home for 80p and all you need to do is give it some love and attention ready for your sunny getaways. But you don't even have to live in it, you can alternatively turn it into a restaurant, shop or a hotel.

Bivona is just one of many areas in Italy that seem to be struggling, alongside the likes of Sambuca di Sicilia, which offered a similar deal back in January and Molise that is literally paying people to move there.

Bovina is nestled in the heart of Sicilian countryside (Credit: Wikimedia)
Bovina is nestled in the heart of Sicilian countryside (Credit: Wikimedia)
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The offer is certainly a competitive one and it needs to be now that so many Italian towns want to lure new people into their areas, after youngsters are choosing to move away from the slow pace of life in favour of more opportunities in cities.

Angela Cannizzaro, Bivona's culture councillor told CNN Travel: "In the last 40 years, our population has halved. Today we're down to just 3,800 residents".

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Houses In This Stunning Italian Town Are Being Sold For Just 85p

"The plan is to restore the town to its 16th-century heyday," she added.

"We want to recover the lost grandeur of our greatest time in history, back in the Renaissance, when 8,000 people lived in Bivona and it was a flourishing feudal duchy blessed by Emperor Charles V."

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"Renovation can begin one year after all building permits are granted and must be completed within the following three. Also, there will be appealing tax bonuses for those who decide to take up residency and actually move here," says Angela.

The town is dotted with orange groves (Credit: PXhere)
The town is dotted with orange groves (Credit: PXhere)
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But why choose here?

It appears to be a sleepy town built in the Middle Ages, so it has a serious history.

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Plus, seaside towns are just 40 minutes in the car in case you need a dip to cool off. Although we assume you'll be installing a swimming pool in those renovations, right?

You also don't have to live in it - it can be turned into anything such as a restaurant, shop or hotel.

Seems like a no-brainer.

Featured Image Credit: Unsplash

Topics: Money, Life, travel, Italy

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Lauren Bell

A freelance journalist working for Tyla. After graduating with a journalism degree, Lauren started off in real life magazines before moving into the fashion and lifestyle sector at the likes of Mail Online and Sun Online. Contact Tyla: [email protected]