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Destinations Here's Where You Can Buy Homes For Just 1 Euro -- And No, The List Goes Beyond Italy
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Here's Where You Can Buy Homes For Just 1 Euro -- And No, The List Goes Beyond Italy

With Italy being successful in popularising its villages with one euro homes, the trend seems to have caught on in other places, too.

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By: Anushka Goel Published: Mar 09, 2022 05:00 PM IST

Here's Where You Can Buy Homes For Just 1 Euro -- And No, The List Goes Beyond Italy
Credit: Claudia Zalla/Airbnb

Homes for one euro began as a phenomenon as early as 2015, though these homes have only gained media attention in recent times. With Italy being among the most successful in popularising its abandoned villages with these one euro homes, the trend seems to have caught up in other destinations as well. By Anushka Goel

Imagine living in a sprawling bungalow, in the quiet, peaceful countryside, with a beautiful porch full of blooms. The house has been bought at the price of one euro and is located in the beautiful villages in Italy. Sounds like a steal, doesn’t it?

The visual may sound enticing, but the reality is far from there. Media outlets off-late have been filled with news of people purchasing homes for barely EUR 1 (INR 84), making many want to jump at the chance of owning a property in the countryside. However, there’s way more to these homes and always has been. The EUR 1 (INR 84) homes started as a means for the Italian governments to bring back life to its abandoned villages, by attracting home-buyers with the picturesque settings.

These homes, often in poor shape, exchange hands for this meagre price, typically with the confirmation that the homeowners will spend from their pockets to restore them into a livable property. Failing to do so, these homes are taken away by the agencies to be resold to new homeowners. And this move has been a tremendous success in Italy – people from across the globe have bought homes here (some even buying multiple properties), and after restoring their newly-purchased properties, they have moved here with family, helping to repopularise the villages. The success is such that in some towns, homes are nearly sold out while the process is still ongoing in some others.

However, Italy is no longer the only country to sell homes as cheap as one euro. Countries such as Japan, Croatia, Spain, and more, are giving away homes and villages at this throwaway price, with certain preset conditions that vary from region to region. And if you’re wondering where you can go to purchase these homes, we’ve rounded up the list for you.

9 places to buy homes for just one euro

Italy

One of the prettiest places to purchase a home, villages and towns across Italy now offer EUR 1 (INR 84) home schemes for buyers. These are often in dilapidated conditions but have great potential to be restored into beautiful homes – so much so that some people have even purchased three such properties!

Anywhere in Italy, be it Sicily, Biccari, Albugnano, Gangi, Itala, you can purchase these homes and restore them to make them livable. Their popularity has increased so much that in many places, the homes are sold out, and the villages are getting repopularised with more and more people moving in from major cities across the world!

Know more about buying one euro homes in Italy here and here.

Japan

 

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In Tokyo, there are a handful of beautiful homes that one can buy for a dollar or even less. Further, some towns in Japan’s beautiful countryside offer homes for free or auctioned at prices that are under one euro, as an attempt to breathe life into these areas. These properties are not in the best condition, however, and require a bit of mending and painting before they become habitable.

Know more here.

Switzerland

 

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A small town on the border between Switzerland and Italy, called Monti Scìaga, had once listed nine homes up for grabs for less than a dollar, i.e., closer to one euro. Like other EUR 1 (INR 84) house schemes, the homes in this largely Italian-speaking town require lots of repairs but are definitely worth the effort since the result is a beautiful home in the Swiss countryside.

Know more here.

Croatia

 

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Croatia is another country where a town, Legrad, is offering homes for one kuna (INR 11), which is way less than a dollar. Once a thriving urban centre, the population of the town declined rapidly as people moved out in terms of better job prospects, lifestyle, and more. There is, however, a catch to this deal. The homes are abandoned and in need of serious work, but the town will provide homeowners with an additional amount to refurbish the home.

What potential homeowners need to keep in mind is that they should be under 40, financially stable, and committed to staying there for a minimum period of 15 years!

Know more here.

France

The beautiful country of France, too, has a town that is offering the one euro house schemes! Saint-Amand-Montrond listed a house of about 1,000 square feet in size, up for grabs at just one euro! However, the conditions demand that the buyers show their interest in living there by starting construction work within six months, to be carried over a maximum of two years. What’s more, you need to live in the house – it can’t be just a rental home or an Airbnb.

Know more here.

The USA

 

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Buffalo’s Urban Homesteading Program has been around for about four decades now, and it offers people the chance to purchase homes for USD 1 (INR 77), which is less than a euro. It requires buyers to fix any code violations within 18 months of acquiring the property and live in the house for a minimum of three years. What’s more, the homeowner spends only a few hundred dollars on property taxes, insurance, et cetera, after it’s been repaired enough to be livable.

Know more here.

England

 

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Liverpool in England is one of the places offering homes for a mere pound (about INR 100). Over 2,500 families have applied to be a part of this scheme, and about 100 families have been allotted such homes. However, the catch is that the homeowners must not sell the property they acquire for a minimum of five years.

Know more here.

Greece

A tiny Greek island, Antikythera, is paying families EUR 500 (INR 41, 955) per month to move there into a free home, which means, you get to live in a home without paying a dime, and in fact, earning from this relocation. The beautiful island is surrounded by crystal clear water on all sides, and because the number of permanent residents is just above 20, they’re willing to pay for more people to live there.

Know more here.

Spain

 

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A network of 30 villages in Spain is trying to catch the attention of those who work from home. The aim is to let people purchase entire villages – instead of just a home – and relocate there, while restoring the properties and probably selling the homes within it, to boost the population there and reach out to more people who may plan to settle there permanently.

Know more here.

Related: Airbnb Restored One Of Italy’s Famous 1-Euro Houses — And You Can Live There Rent-Free For A Year

Written By

Anushka Goel

Anushka Goel

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