Tuesday, 02 October 2012 06:26

Lithuanian Ministry of Foreign Affairs

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    Italy’s cheap homes hot spot puts more up for sale
    Dwindling Italian towns have been pulling out all the stops to lure new residents in recent years, with several one-euro home schemes launching across the country.

    But while some towns have struggled to find buyers for their abandoned buildings, others have been basking in the glory of successful sales.
    “We just want to make it clear that by numbering these batches, more sales will likely follow in coming years,” newly elected mayor Giuseppe Cacioppo tells CNN. “Foreigners are flocking to buy our homes, it’s been a hit so far.”

    Cacioppo encourages potential buyers who are heading to the region to pay the town a visit and check out the 12 or so homes up for grabs this time.

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    “The two batches of houses, owned by the town hall, revitalized the private real estate sector. 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,” says Cacioppo.

    Sambuca’s triumphant efforts to sell off its empty homes are largely credited to the fact that the local authorities actually own the abandoned dwellings they hope to offload.

    Other depopulated Italian towns, such as medieval village Patrica, located south of Rome, have attempted to launch similar schemes, but struggled to track down the former owners to gain permission to sell their empty homes.

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