“Ronan, Italy’s €1 homes…do they exist? Are they legit? And are they a good deal?”
I can’t tell you how many times I’ve been asked those questions over the last few years. And my answer is: Yes. Yes. And no.
Let me back up and give you some background…
For over a decade, small towns all around Italy have been luring real estate buyers with offers to buy homes there for just €1.
Faced with depopulation due to young people leaving to head to the bigger cities to find work, the mayor of Gangi, a small hill town about a 90-minute from the Sicilian capital of Palermo, came up with a plan.
Give these homes away to folks who will commit to renovating within five years. The agreement stipulated that the purchase price was €1 (at the time that was roughly $1.25) but this is then waived. Now, the catch here is of course that these homes need renovation work (some need a LOT of work).
The homes in Gangi were snapped up and started a tidal wave of homes around Italy being offered for €1. The mainstream press caught wind of it and a flurry of news articles followed, which further peaked the interest of foreigners who dreamed of owning a dream home in the Italian hills.
Over 12 years later, these homes are still available.
But are they a good deal? In my newest YouTube video, A Home in Italy for €1, I answer that question…
Italy’s €1 homes have garnered lots of press attention over the years…but are they a good real estate deal? I tell you my thoughts in my latest YouTube video. Click to view. And then ask any question you have in the comments.
When I first heard about the scheme in Gangi over 12 years ago, I hopped on a plane to check it out for myself. And over the years, members of my team have been back to Sicily to check out other towns that were offering the scheme. And we all came to the same conclusion.
So in this video, I’ll tell you…
- What I really think about this scheme…
- And the alternatives to buying one of these €1 homes that will give you more bang for your buck…
And when you’re done watching the video, I want to hear from you…
- Have you ever considered buying one of these homes? Or do you know someone who has?
- Have you bought a home in Italy that wasn’t part of the €1 scheme?
- Aside from Sicily, what parts of Italy interest you for an overseas home?
Drop your thoughts, ideas, and suggestions in the YouTube comments—I read them all, and I’ll be replying to any questions.
Click here to go to the channel now.
Wishing you good real estate investing,
P.S. If you have a suggestion for a topic you’d like to hear about for my next YouTube video, please let me know in the comments here.
I want this channel to be a platform for conversation and sharing ideas. I love hearing your insights, questions, and feedback, so keep them coming.
