NIS 10 for a house: the European city you can move to

On By Pranco

In 2019, the Sicilian village of Sambuca di Sicilia gained worldwide attention when it offered houses for sale for the symbolic price of €1. Similar initiatives became a popular way for rural towns to tackle the problem of negative migration and prevent the deterioration of abandoned buildings.

While similar initiatives failed elsewhere, Sambuca was inundated with requests from all over the world. Buyers came from the United States and the Middle East, and sales skyrocketed €20 million in the local economy.

Now the Sicilian village is again offering a series of houses for sale, but this time under slightly different conditions and at a higher price. There are ten homes for sale from €3, located in the old Saracen quarter of the city. The buildings, which were abandoned after a 1969 earthquake, are in a structural condition comparable to those sold in previous rounds.

Sicily (credit: INGIMAGE)

The homes offered are two to three bedroom homes, with an area of ​​up to 80 square meters, made of honey-colored stone. The buildings have two or three floors and some have a balcony. Some houses have courtyards with lemon trees and floors decorated with colorful Maiolica tiles.

However, there are a few details in the fine print: the houses will be sold at auction to the highest bidder, so the final price is expected to be significantly higher than the token amount of €3 – Previously, most houses were sold for prices ranging between €5,000 and €10,000.

In addition, most homes require extensive renovation. New owners should expect to spend at least some money €30,000 for basic renovations, which may be higher €200,000 for an extensive renovation. Renovation work must be completed within three years of purchase or buyers will lose ownership €5,000 deposit required during bidding process.

The initiative has changed the face of the city, bringing significant income to local contractors, architects and designers, encouraging the opening of new tourism businesses and shops, and even creating co-working spaces to attract digital nomads. The project has also changed the demographic makeup of the city, especially with the arrival of many American buyers, so much so that the city has been nicknamed “Little America” ​​due to its large community of foreign residents.

While the initiative has breathed new life into Sambuca, those looking for an authentic experience surrounded by locals should consider looking elsewhere.