If you’ve long dreamed of living in Italy, now is the perfect time to take the plunge. While property prices across Europe continue to rise, the prices on many of Italy’s older homes are doing the opposite. This means you can buy houses and even a private island in Italy at bargain prices. In at least one area, the town will even pay families to move there.
According to CNN, the latest cheap real estate listings come from two Italian towns. Homes are selling for €1 (about $1.13 U.S.) in Zungoli, a rural village near Naples and the Amalfi Coast, and Mussomeli, a larger town in Sicily. The catch is that new homeowners must pay a security deposit and commit to fixing up their properties. On the bright side, many of the homes are already in decent shape.
Websites have been created for both Zungoli and Mussomeli, letting prospective buyers shop online (although the Zungoli site might be a little tricky to navigate if you don’t speak Italian). The application process for homes in both towns can be done online, but you'd still have to fly to Italy to finalize the details.
Zungoli is known for its cobblestone paths, medieval bridges, and colorful farm homes. With a population of 1000 people, it received national recognition as one of Italy’s most beautiful villages in 2015. Paolo Caruso, the mayor of Zungoli, tells CNN that interested buyers should book a plane ticket and “come see for themselves the beauty of the place, taste the great food, and breathe the fresh healthy air.”
As for Mussomeli, it’s a bit larger, with a population of 11,000 people. It boasts verdant farmlands and views overlooking the Etna volcano and Valley of Temples. From this vantage point, residents can sometimes see a weather phenomenon called the “Sea of Clouds."
"Looking down you see the valley covered in a dense blanket of clouds as if the town were suspended mid-air,” says heritage councillor Toti Nigrelli. “We want customers to experience all this.”