19.03.2025 13:20
The town of Penne in Italy's Abruzzo region is offering abandoned historic houses for sale at just 1 euro, provided they are restored. Since the project was launched to prevent population decline, 6 houses have been sold since 2022. The town has over 40 vacant houses looking for new owners. Buyers are required to commit to restoring the houses within 3 years.
A house in a town in Italy has been put up for sale for 1 euro, provided that it is restored. Historical houses in a town in Italy are being sold for the price of a coffee. In the town of Penne in the Abruzzo region of Italy, abandoned houses are being sold for one euro to stop the population decline. According to a statement from the municipality, since the project was launched in 2022, six houses have been sold, mostly to Italians, and the sale of other houses is planned in the coming weeks.
THE REGION MAY TURN INTO A GHOST TOWN
Penne's Mayor Gilberto Petrucci stated, "There are more than 40 empty houses in the town looking for new owners, all located in the historic center. Although our total population is about 1,200, only 1,000 people live in our magnificent historical area. This place is at risk of becoming a ghost town." Petrucci mentioned that most of the houses were owned by local farming families who left the town, especially after being damaged during World War II, and that other families migrated to the USA, Belgium, Venezuela, and larger nearby towns and cities in the 1970s for factory jobs. He noted that the first three houses in the town were sold in 2022, and the other three were sold at the end of last year, stating that the last houses put up for sale have similar characteristics. Petrucci pointed out that the houses in question are quite old, with some dating back to the Middle Ages and restored during the Renaissance period.
THE ONLY CONDITION IS RESTORATION
Providing information about the sales process, Petrucci said, "The only condition is that buyers must commit to restoring these houses within three years. However, we do not require a deposit guarantee to start the work. We really want to encourage and support those who come to revitalize the ancient neighborhood." According to the mayor's statement, the initial cost of renovating a small to medium-sized house will be around 20,000 euros. It was noted that the price of houses in the town and surrounding areas that are livable and do not need restoration starts at 40,000 euros. Houses in Zungoli near Naples and in the towns of Mussomeli and Sambuca on the island of Sicily have also been put up for sale for 1 euro. Since the launch of the project, it has been reported that the foreign population in the towns has increased.