Ever wanted to buy a holiday home for less than a pastizz? Well, you probably might’ve never thought this was possible. But it’s time to change expectations and start planning.
There are now houses up for sale in Sicily for €1
Let’s be totally honest and address the (not so secret ) elephant in the room (well, the island). Rent prices in Malta have increased so much that wages just aren’t keeping up with house prices. However, here is an idea, and a legit opportunity for owning a home in our big cousin of Sicily!
Sambuca, the Sicilian town (not the shot) is selling houses for €1 to entice people to either move there, help their economy or boost the population. All properties are between 430 square feet to 1,614 square feet.
Sambuca was a runner up in Italy’s Most Beautiful Town contest in 2016. It is a 75-minute drive from Palermo (Sicily’s capital) which you can travel to from Malta in just over 45 minutes. Surrounded by everything from beaches to woods, the small hilltop town is currently sitting on a population of just under 6,000.
“As opposed to other towns that have merely done this for propaganda, this city hall owns all €1 houses on sale,” Sambuca’s deputy mayor and tourist councillor Giuseppe Cacioppo, told CNN. “We’re not intermediaries who liaise between old and new owners. You want that house, you’ll get it no time.”
So what’s the catch?
You’ll have to commit to spending €15,000 over three years for fixing the house you buy. I mean, come on, that’s only €5,000 a year!
Also, €5,000 is required for a security deposit, which will be returned when all the renovations are finished.
10 houses have already been bought, so hurry up and don’t miss your opportunity.
Email [email protected] if you’re keen in buying and renovating your new home in Sicily!
Not a bad deal eh?