The latest European town enticing new residents with dirt-cheap real estate is none other than Italy’s Sambuca di Sicilia (again).
Having enjoyed success with previous sell-offs — injecting €20 million into the local economy — the Agrigento municipality is now preparing to auction its third batch of abandoned homes. This time the prices start from just €3 ($4.90).
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“The two batches of houses, owned by the town hall, revitalised the private real estate sector,” Giuseppe Cacioppo, the newly-elected mayor of Sambuca di Sicilia, told CNN.
“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.”
“We just want to make it clear that by numbering these batches, more sales will likely follow in coming years.”
Cacioppo added: “The timing is perfect. Tourists and interested buyers currently travelling to Italy, and those planning a trip in spring and summer can come to take a look.”
Sambuca di Sicilia’s mayor reassured the public that the pads up for grabs are as “structurally stable as those so far sold,” while noting they were still in dire need of some TLC.
As CNN explains, depending on the condition of the property, a “restyle” generally starts at €30,000 ($48,500) for something simple, but can rise all the way to over €200,000 (roughly ($325,000) for a more extensive makeover.
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Assuming you opt for a revamp on the more basic end of the spectrum, that’s still far cheaper than what you’ll find here on Australia’s east coast.
Sambuca di Sicilia is located approximately 68 kilometres southwest of Palermo and roughly 89 kilometres northwest of Agrigento; it has previously been named one of I Borghi più belli d’Italia (“most beautiful villages of Italy”).
Find out more about this storied slice of paradise below.
