Another Italian town is selling houses for €1 and you don’t even have to pay a big deposit
ANOTHER Italian town has unbelievably put homes up for sale for just €1 each.
Buyers could enjoy both the sea and mountains if they pick up a beautiful house in the stunning location.
Several Italian towns have slashed property prices to just €1 in the past couple of years.
The historic town of Penne, in the Abruzzo region, will release even more homes for less than the price of a coffee.
Penne started selling its abandoned homes for the rock bottom price in 2022.
The town, which lies between the Adriatic Sea and the Gran Sasso mountain range, began this amazing deal in an attempt to stop its plummeting population numbers.
Six homes have been sold since 2022, mostly to Italians.
Buyers also would not have to pay a huge deposit on the €1 price tag.
The only guarantee required to secure one of these homes is that the buyer must renovate the property within three years.
This is a huge difference from other €1 schemes that require down payments of between €2,000 and €5,000.
These deposits are returned to the buyers after the works on the home are done.
But Brits looking to move abroad for more sunshine and a quiet life could pick up a bargain soon.
The next “handful” of homes will become available “in the next couple of weeks”, the mayor of the small town revealed to CNN.
Some of the homes that will become available unbelievably date back to medieval times.
They will be up to three stories tall and could be up to 1,300 square feet.
Mayor Gilberto Petrucci revealed this programme was crucial to avoid Penne becoming a “ghost town”.
He said: “There are potentially over 40 empty buildings in town looking for new owners, and they’re all located in the historical center which has been declining since families started emigrating decades ago.
“Although our total population is roughly 1,200 inhabitants, there are only 1,000 people left living in our gorgeous old district, which risks becoming a ghost town.”
The beautiful town is under an hour’s drive away from the pristine Adriatic Coast.
Penne’s architecture is a stunning blend of medieval, Renaissance, and Gothic styles.
A home is not the only €1 deal up for grabs.
Siculiana, in Sicily, is offering a weekend away for two people for less than the price of a chocolate bar.
The stay would include accommodation, meals and guided tours.
In a bid to boost tourism to the seaside town, you can buy a three-night weekend escape for €1, which works out at 84p – for reference, a Mars Bar now costs 95p in the supermarket.