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Italy’s €1 house sales: Auctions2Italy takes different approach

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Italy’s €1 house sales: Auctions2Italy takes different approach

December 19, 2020
in Homes for Sale
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Italy’s €1 house sales: Auctions2Italy takes different approach
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(CNN) — Looking for a holiday gift but still not found the perfect one? Here’s a last-minute idea: a home in Italy, yours for less than the price of a cup of coffee.

Yes, another month, another set of idyllic Italian village cottages up for sale — and yes, it’s all part of the bid to breathe new life into remote rural locations that have been quietly dying off.

However, if you’re used to the usual model — town authorities wanting to attract new residents and offering cut-price houses or subsidized living to entice them — this is a little different.

In the regular schemes, buyers generally have to put together a proposal for what they’ll do with the property and lay down a deposit that will be refunded only if they finish the renovations within a specified time. Renovating a house in Italy, it must be said, is not without its challenges — especially when it comes to taking…

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