Tuscany, in Villa Basilica one euro houses against depopulation

In Villa Basilica, a small municipality in the province of Lucca, it will be possible to buy real estate for one euro. Thanks to a motion approved by the municipal council, it will be possible to purchase, for a symbolic sum, properties that the owners intend to dispose of. With one objective: to reverse the trend of depopulation and encourage the return or arrival of new people in Villa Basilica, which risks depopulation (today its inhabitants number about 1,400).

'Obviously,' explains Mayor Giordano Ballini, 'whoever buys in this way makes a commitment on which we, as administrators, will be vigilant. The commitment is to recover the properties, restore them and, above all, not to abandon them again. The issue of the depopulation of villages and small towns is by no means secondary: it is important to take urgent action so that we do not end up with ghost hamlets and villages. We want to relaunch the territory and among the many initiatives we have set up is this one, which we announced during the election campaign. The process is only just beginning: now we will have to work with real estate professionals to identify properties and buyers and monitor the course of buying and selling. The properties that will be part of the strategy must not be the subject of neighbourhood disputes and must not require intervention to remedy situations of danger to public and private safety.

Becoming a homeowner with just one euro is already possible in other regions of the peninsula. Whether in the mountains or by the sea, the list of municipalities is growing, from Sicily to Sardinia, via Basilicata, Calabria, Molise and Tuscany. The 1 euro houses project could shake up the real estate market by facilitating access to home ownership for young people, for whom the possibility of being able to access a mortgage is often an insuperable obstacle these days.

Whoever decides to take part in the purchase of a house for one euro, has to meet a number of commitments and conditions such as compulsory renovation: the new owner is obliged to renovate the property within a certain period of time, usually three years, and to comply with specific standards for renovation, while maintaining the historic appearance of the hamlet. To ensure that the houses end up in trustworthy hands, a security deposit of between 2,000 and 5,000 euro is often required, an amount that is returned upon completion of the renovation work. Although the property has a symbolic price, the actual renovation costs can be very high. In some cases, the complete renovation of the house can cost tens of thousands of euros, depending on the state of the property and building regulations.

"An Italian village offers houses for $1 to Americans upset by the result of the US elections," the municipality of Ollolai announced on its official social platforms. A bold initiative, with an eye on American citizens looking for a fresh start.