User Power
Value/Post Ratio
112%
- Jun 8, 2019
- 111
- 124
I'm Italian, and most of these 1 euro properties are in the region where I come from.
The obvious catch is that these houses are in remote villages where you will be living with a bunch of old people.
Pros:
Now is it completely a bad idea? Nope, some people love this kind of quiet place. But hey, if you want to live in Sicily or Italy, you could buy really nice houses already renovated for even 100k. I'm talking houses close to the beach, historical centers full of history, and actual cities that are alive (but still quiet) and where the prices will remain stable if not go up.
An example of such a place in Sicily is Siracusa (a place so beautiful that it was just recently the set of the new Indiana Jones movie). There are many others.
The obvious catch is that these houses are in remote villages where you will be living with a bunch of old people.
Pros:
- cost of living is very low
- there are a few other foreigners that thought the same, and you can build a small community there
- people are usually very welcoming in the South of Italy
- you can eat very healthy food from the local markets for cheap
- chance to enjoy a very quiet life
- You'll be living in villages that were left behind by the younger generations. There are no beaches close by. Just nice nature, a quiet life and the beautiful Italian lifestyle
- There's low demand for these houses. After you've bought them, they'll likely decrease in value. In those villages there is nothing, people have no jobs besides traditional jobs like a butcher, teachers, lawyer and doctor.
- To renovate these houses, you need at least a reasonable sum. As said, the value of the house will likely decrease because there is little to no demand.
- Taxation is relatively high in Italy. Unless you're very wealth and can use one of the tax schemes (such as €100k flat tax if you move your residence there no matter how much you earn.)
Now is it completely a bad idea? Nope, some people love this kind of quiet place. But hey, if you want to live in Sicily or Italy, you could buy really nice houses already renovated for even 100k. I'm talking houses close to the beach, historical centers full of history, and actual cities that are alive (but still quiet) and where the prices will remain stable if not go up.
An example of such a place in Sicily is Siracusa (a place so beautiful that it was just recently the set of the new Indiana Jones movie). There are many others.