The Maenza town is now the first in Lazio region of Rome to start selling houses for one euro (about Rs 87), CNN reported. The objective of this project is to repopulate the villages of Italy and direct tourism towards the remote regions of the country.
Applications for the sale of the first few houses will close on August 28, while more homes will be available for buyers to purchase soon. In the near future, however, dozens of abandoned or empty huts in the area will be available for sale.
Why are houses on sale at just Rs 87 in Italy?
Mayor Claudio Sperduti told CNN that “We’re taking it one step at a time. As original families get in touch and hand over to us their old houses, we place these on the market through specific public notices on our website to make it all very transparent”.
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The town administration wants to “combat the abandonment of the ancient medieval village of the city centre”, located around 70 km southeast of Rome.
Deposit guarantee
As a guarantee of deposit, the buyer must pay 5,000 euros for the restoration of the property in Maenza within a period of three years and the amount will be refunded once the renovation work is completed.
A detailed plan of how the property will be used – as a home, restaurant, shop, or guesthouse – must be submitted to the town.
With Italy grappling with population decline in villages, the one-euro (about Rs 87), it launched this housing scheme in 2020.
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