These towns have turned to such measures because their populations are dwindling. Maenza is renowned for succulent cherries and the beauty of its women. With residences more typically offered in the Mediterranean countrys more remote areas of far-flung Sicily (Sambuca, Mussomeli and Cammarata) and other little-known villages in the South (Laurenzana, Teora and regions of Calabria and Molise) the home renovation initiative in Maenza marks one of the most centrally located villages seen in the trend, with better access to travel hubs and historic attractions. Our comment section is a place to promote self-expression, freedom of speech and positivity. "Crespelle" are fried crispy golden dough strips covered in sugar and flavored with cinnamon, lemon, raisins and pine seeds. Skip recommended stories carousel and go to main content. 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I havent visited these properties in person, nor done any due diligence. Bright "sale" signs have been attached to many doors, including some retailing at a slightly higher price. Not just in Italys less affluent south, but in the north too. Save my name, email, and website in this browser for the next time I comment. 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. Sperduti told CNN the town's goal is to save landmark properties that are in disrepair from both the toll of time and house flippers. In the historic center of the characteristic village of Maenza, we offer for sale an interesting two-room apartment with a panoramic view and split over two levels. It could be more attainable than it seems, however, especially if you're looking to start fresh in Italy, where you can buy a home near Rome for1 (roughly $1.17 USD). Garage, cellar, woodshed and outbuilding of 35sqm. The low-tier were cramped and had doors I had to bend down to get throughthe 1 homes typically fall into the low category. These are simply little pieces of paradise that you can own for a song. On the municipal website there is a page devoted to this initiative, which states that the project aims to recover and enhance the value of buildings"located in the historic centre, returning them to their function, especially housing, in order to recover or, at least, stem the phenomenon of depopulation that the municipality of Maenza has been experiencing for many years and that has led to a significant decrease in population". The homes were built in the 1700s, and many of them have been abandoned for years, CNN reported. The Best Destinations to Buy a Lakefront Home in the U.S. Another Beautiful Italian Town Is Selling 1 Homes This Time, No Deposit Required. Instead it's a move to block realtors and speculators from grabbing the old houses to make money. Meena Thiruvengadam is a lifelong traveler with nearly two decades of experience in journalism. The goal, he says, is to recover all disused crumbling properties by liaising between old owners and potential buyers lured by knockdown prices. Cinquefrondi, in the southern region of Calabria, is the latest to join the trend. Local delicacies include cherry jams, syrups, liqueurs and honey. When I first heard about these deals I actually went to check out one of the towns offering 1 homes to see for myself what it was all aboutand if it stacked up as a good real estate investment. Around 100 properties, in need of renovation, will be offered up for sale. Maenza in Italy is selling $1 homes right now and all you've got to do is renovate them! The town's website will continue to be kept up to date with any homes that come up for sale. The deposit will be returned once renovations are complete, CNN reported. Thats a gross yield of 18.47%. The 1 homes now on sale, dating back to the 1700s, overlook a tiny piazza and boast a unique sea view of the Pontine islands. Instead, he claims that it's an attempt to stop realtors from buying the old properties and making money off them. Situated in Santa Domenica Talaos old town, the two-bedroom house comes turnkey, with a cellar and a balcony with panoramic views of the surrounding countryside. Maenza surrounded by nature, with a view of the hills for sale villa in via Monte Acuto. Your email address will not be published. The aim is to recover abandoned houses and repopulate the historic centre. A wooden door from which the marble staircase begins leads us to the two apartments: There is a lot of interest in this type of investment. Inside, old tiles still decorate walls, dusty chairs lean against cracked walls and wooden doors hang off hinges. That occupancy is extremely high in a normal market but in a place like Florence its only okay. While the first few applications closed earlier this month, Sperduti says there are many properties ready to go on the market for potential buyers. But now, the toll of the COVID-19 crisis has exasperated any hope a recovery. The town overlooks a fertile former marshland dotted with lush gardens, kiwi plantations, lakes and grazing buffalo. 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," he told the outlet. For less than 100,000sometimes even less than 50,000youll find stunning turnkey properties. Renovations shouldn't take long. Maenza is a quaint medieval town full of narrow alleys, cobblestone pathways, and history, according to the same article. On my last visit to Florence I found a completely renovated, Airbnb-ready apartment for 185,000 ($203,584) close to Fortezza de Bassothe largest historical monument in the city. In Gangi, for example, I found three tiers of homes: low, mid, and high. cinquefrondi Emblems and coats of arms adorn buildings. fans threaten boycott: Fire Mayim Bialik or we stop watching, Best star snaps of the week: Celebs have fun in the sun and more, Mandy Moore will have unmedicated birth due to rare blood disorder, Dan Abrams defends NewsNation network from Superman Dean Cain, Giant 3D dog leaps across Tokyo billboards, Bradley Cooper hosts small gathering at his NYC home on Huma Abedin's birthday. Most of the properties are only about 50 to 70-square meters, so under 800 square feet. Amid Italys recent real estate renovation spree, buyers now have a shot at scoring a dirt-cheap dwelling near the heart of Italian culture, Rome. Want more Thrillist? For decades it was under the control of the cruel Borgia papal family. Lizzanello is located less than four miles from the nearest beach and about 30 miles from Brindisi airport, which connects with 24 major European hubs. However, all of its 1 homes will require extensive renovation. Applications are currently open but will close on August 28. The mayor estimated that the cost of bringing homes up to snuff would start at approximately 100 ($117) per squarer meter for the average 50 to 70 square meter home, the cost of which includes eco-friendly elements and fortifying for earthquakes, according to Sperduti. Buyers can turn the 550- to 750-square-foot stone dwellings into businesses or modern homes. You can find out more and change our default settings with Cookies Settings. The medieval village of Maenza, located just 1.5 hours from Rome, is overflowing with history and even has its very own castle. Buyers undeterred by the condition must submit an application with a plan for the property and what it'll become. Part of the town was bombed during World War II. Emigration and household consolidation (kids moving back in with parents and vice versa) will increase. By clicking Sign up, you agree to receive marketing emails from Insider a wooden staircase which leads to the upper level. And if you can't find something you like online, don't fret. And theres no better time to start looking than now. On top of the time limit, Maenzas leaders will also require that buyers submit a detailed plan for renovations and how they intend to use the property, whether as a home or business. A characteristic porphyry avenue that runs all around the house guarantees comfortable maneuvers and allows you to park your car both in the internal garage of 50 square meters, and in the external wooden roof of 25 square meters. Starbucks gets PSL competition as Panera, Dunkin' unveil n Las Vegas flooding: Multiple casinos, entire Strip, airport under water, Winning numbers announced for $1.28 billion Mega Millions jackpot, 'Jeopardy!' Its right at the toe of Italys boot. Located in the hills, its surrounded by the Aspromonte National Park and set between the Ionian and Tyrrhenian coasts. Maenza is requiring buyers to commit to renovating their new properties within three years. The town has about 100 homes for sale for 1 euro, or a little more than $1, that are in need of repairs, according to CNN. Sign up for our free daily Postcard e-letter and get a valuable free report on the The 5 Best Places to Buy Real Estate In 2022. It is anchored by a 13th-century castle and located near several seaside resorts and mountain ranges. 2022 Group Nine Media Inc. All Rights Reserved. By the time you are done with restoring them, theyre more like 30,000 homesa good deal, but you can get more bang-for-your-buck if you skip the step of taking on all the renovations yourself. If more than one person applies for a property, priority will be given to the applicant who wishes to settle down and/or plans to complete renovations the fastest. Meena Thiruvengadam is a Travel + Leisure contributor who has visited 50 countries on six continents and 47 U.S. states. If several applicants want the same house, priority will be given to those who want to settle down and to those planning the fastest renovations. Mayor Claudio Sperduti called it a "pact for the rebirth" of the town, which happens to be his hometown. Among objects left behind are ladders, chandeliers still dangling from ceilings and old fridges. Offers may be subject to change without notice. Taking up residency is not compulsory but families with kids and young couples who wish to live in Maenza on a semi-permanent basis are encouraged to apply, says Sperduti. And if you dont like coffee, well, I know a place where you can pick up a home for the same price. For anyone looking for a bargain hideaway in Italy, however, this may just be a priceless opportunity. A shot of local strawberry-flavored fragoletto wine. So its not very surprising to see the popularity of Italys free (or 1) home giveaway explode. Thanks for contacting us. The town's ancient castle is said to be the scene of a miracle. And then there are those who would like to get rid of these buildings, perhaps because they have gone to live elsewhere". 9 Best Places to Buy a Mountain Vacation Home in the U.S. How to Spend the Perfect Long Weekend in Provincetown, Aspen Is Just As Enchanting in Summer Here's Where to Stay, What to Do, and Where to Eat, It List 2022: Our Editors' Picks of the Best New Hotels in the World, Another Idyllic Italian Town Is Selling 1 Homes, The Best Spots to Visit in Italy, According to T+L Editors, 10 Best Countries for Americans Who Want to Live Abroad. Potential buyers should be aware that these homes aren't in the best condition and that some have been declared dangerous to locals because of this. In Maenza, Italy, 100 homes are selling for about $1 to buyers who can commit to renovating them. The property, currently inhabited by the property, lends itself well to different furnishing and usability ideas wh, We offer for sale a delightful apartment, finely renovated and furnished in Via del Duomo, a few steps from the historic center and the suggestive castle of Maenza. "This is not a dying city, people still inhabit the old district but it needs a revamp, fresh oxygen.". It is the turn ofMaenza, a medieval village in the province of Latina. He added: "The initial phase has started, it's a project that will develop over time. "The house isn't great, but it's not crashing to the ground either.". Potential buyers can visit the town's website to see which homes are for sale. But theres something that make this towns 1 sell-off a bit different. On a clear day, you can see all the way to Stromboli, an active volcano 75 miles south. These aren't the sprawling Italian villas you remember from movies like "Under the Tuscan Sun" and generally come in under 800 square feet, contributing to their lower-than-expected renovation costs. The surrounding chestnut, beech, holm oak forests and nut orchards are roamed by wild horses. For a some years now, small towns all around Italy have been luring real estate buyers with offers to buy homes there for the price of a cup of coffee. Interested buyers are also invited to contact the town hall to make specific property requests and local officials will attempt to match their requirements. Some of the homes date back to the 1700s, while many boast epic views of the Tyrrhenian Sea between the island of Sardinia and the Italian mainland. Mayor Claudio Sperduti says he's launching an ambitious "pact for the rebirth" of his hometown with the aim of breathing new life into its quiet alleys. ", But why decide to buy a house for 1 euro in Maenza? For some, homeownership feels like a pipe dream. We've updated our Privacy Policy, which will go in to effect on September 1, 2022. Buyers must also provide a deposit of about $5,840 upon purchasing, to be returned after renovating. He told CNN, This is not a dying city, people still inhabit the old district but it needs a revamp, fresh oxygen.. The old district is a maze of winding arched alleys, narrow passageways and steps with huge cobblestones, made shiny by the passage of carriages and hooves across centuries, and thick stone portals decorated with friezes. And youre just five miles from the beachside town of Scalea. Small towns in other European countries and other parts of Italy and Sicily have previously listed homes for sale for $1 but Maenza is the first town in proximity to Italy's capital to offer houses at the eye-catching price tag. (Youll find dreamy Italian beaches on both coasts, around a 15-minute drive in either direction.). Come along for the ride! By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties. First and last names will appear with each comment and the use of pseudonyms is prohibited. Sperduti says his town, unlike others, isn't offering 1 homes to halt dwindling population numbers -- even if they have barely exceeded 3,000 in the past 20 years. Comments are moderated according to our Community Guidelines. "An owner who was desperate to get rid of his old property, even if it meant giving it away for free, eventually sold it for 3,000 to a person who showed up in town," says the mayor. It was close to the other main Florentine attractions. Sperduti told CNN he estimates some homes in Maenza could be back to livable condition with about 5,000 in renovations. The stone homes have views of the town square, the sea, and the nearby Pontine Islands, according to the same article. From rural villas to medieval homes in hilltop towns. How to wash it all down? The recently restyled overhanging baronial castle is where Saint Thomas Acquinas is said to have performed the miracle of turning sardines into herrings, fish previously unknown to Italy. A deposit of 5,000 (approximately $7,450) must also be handed over, although it will be returned when renovation works are completed. She has visited more than 50 countries, 47 U.S. states, and six continents. Sign in to access your subscriptions and subscriber-only content. A new project for the sale of houses for 1 euro is coming to Lazio. as well as other partner offers and accept our. Meena has road-tripped across the U.S., taken trains through Europe, traveled India by train, plane, and automobile, and gone off the grid in Alaska via helicopter. Cover terrace.--3a8a46fe0135443e140a2fc97ad47825! Id put the number at more like 25,000. Sign up for our newsletter and get a curated list of the top Whether you're a seasoned real estate investor looking to diversify your portfolio, or you're simply interested in learning more about buying a home overseas, you'll find your RETA membership an invaluable source of tools and education. Families and youths often leave town to move to larger homes in nearby cities and villas in the countryside, but theres always some newcomer who takes their place so its balanced out, said Sperduti. The mayor of Cinquefrondi estimated between 10,000 and 20,000, but thats coming from a connected local with an agenda. However, Sperduti told CNN more homes will go on the market after the allotted period as talks are already underway with the original owners of each property. When you visit this site, it may store or retrieve information on your browser, mostly in the form of cookies. There are also tax deductions available, including for environmentally friendly restyles and earthquake-proofing updates. Theres something irresistible about a free giveaway. Claudio Sperduti, the mayor of Maenza, told CNN that Maenza is getting in touch with the families who own the properties to give them up to be sold. The property is completely fenced with a fence consisting of a concrete wall and galvanized iron with an electric access gate. It's not a requirement that you live there year-round, or at all, but the local government is urging families with kids and young couples who want to live there on a semi-regular basis to apply. The town hopes it can breathe new life into about 100 neglected properties, some of which have become a potential danger to passersby because of their dilapidated condition. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a storys comment section at any time. The town's narrow streets and alleyways are filled with history. Further details are available on the village website. Buyers can renovate the homes into modern residences or turn them into businesses including retail stores, restaurants, or bed and breakfasts. "We're taking it one step at a time. Grab your passport and pack your bags! This is what happened next, These beautiful Italian towns will pay you to work remotely, How to buy a 1 home in Sicily without ruining its culture. Provincial Italy is a treasure throve of bargain properties. A detailed plan on what the property will become, whether it be a home, B&B, business, must also be submitted. Maenza is known for its idyllic atmosphere, stone structures, olive trees, and sweeping sea vistas. Buyers also are required to make a 5,000 (about $5,840) deposit, which the local government promises to return once renovations are complete. Applications for the first few houses on sale close on August 28 but the mayor reassures people who miss out that more will go on the market as talks are underway with their original owners. Sperduti also encourages families especially to apply in the interest of discouraging developers from flipping homes for profit. The mayor of town has says that they are not selling these homes in order to address the problem of a dwindling populationas is the case with a lot of towns offering home for sale for a euro. "In the historical centre of Maenza," explained mayor Claudio Sperduti, "there are several abandoned houses. There's a spot called the "neighborhood of the pretty women," which could however also nod to a more insalubrious past as a red-light district. And, to be clear, I dont recommend these as properties you can make money from. How to Plan a Trip to Italy's Amalfi Coast Best Seaside Towns, Top Luxury Hotels, and Tastiest Restaurants Included, This Italian Town Near Top Ski Resorts Is Now Selling 1 Homes, Too, Those $1 Houses in Italy Are Now Even Easier to Buy, These Southwestern Mountain Towns Show a Quieter Side of Colorado With Hot Springs, Hiking, and Boutique Hotels, Italy's Pontine Coast Is Steeped in Ancient Myths and Small-town Charm. Fitted kitchenettes are rusting and broken. Florence alone has seen the number of overnight stays grow from 12.2 million in 2012 to roughly 15.8 million in 2019. Copyright 2022 Travel + Leisure Co. All Rights Reserved. NOW WATCH: How Governor Andrew Cuomo went from being a rising star in the Democratic Party to resigning from office, Maenza is a quaint medieval town full of narrow alleys, other parts of Italy and Sicily have previously listed homes for sale for $1. Maenza, a town of about 3,000 residents in the Lepini hills south of the Italian capital, is selling dozens of abandoned abodes for prices starting at 1. That's a small price to pay to live in a home overlooking an Italian piazza and the Pontine Islands. Take those 250 nights at an average of $150-a-night for a total of $37,500. The town's mayor, Claudio Sperduti, told CNN that the scheme is part of a "pact for the rebirth" for the town. Up your budgetbut still staying under $100,000and you can get something very special. Maenza isn't the first Italian town to sell off homes at bargain prices, but unlike other the others, Maenza's mission isn't to build up its population. People still inhabit the old district, but it needs a revamp, fresh oxygen," the town's mayor Claudio Sperduti told CNN. Youre just a 90-minute drive from a major capital city. 01VE4118) Detached house in Via Monte Acuto in Maenza, consisting of lounge, kitchen, study, bathroom and veranda on the ground floor, 3 bedrooms, bathroom and terrace on the first floor. Tax deductions for environmentally friendly restyles and earthquake-proofing updates mean, according to Sperduti, costs start at 100 per square meter. Buyers in search of bargain homes in Italy finally have an option that's within easy driving distance of Rome. Some of Latium's most stunning seaside locations are a stone's throw away, including Terracina, Sabaudia, Sperlonga and Gaeta. According to CNN, restorations should be relatively cheap as many of the old buildings are small. Well send you our daily roundup of all our favorite stories from across the site, from travel to food to shopping to entertainment. Potential buyers must file how they'd like to renovate the homes and provide a $5,840 (about 5,000 euros) deposit upon purchasing, according to the same article. This is not a dying city, people still inhabit the old district but it needs a revamp, fresh oxygen, he added. In Maenza, in a panoramic and sunny area, we offer for sale a Villa with a large private garden of over 5000 meters completely renovated, fenced, with a panoramic view of the green hills of the Pontine countryside and the sea (San Felice Circeo). Or you could rent for part of the year and use it as your own Italian getaway for the rest of the 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," he explained. Save search. He hopes the rock-bottom prices will encourage ambitious buyers to transform the area's disused and crumbling buildings into lifelong homes. There are about 100 neglected properties up for sale. For Italys profit-making real estate, you need to look to the blue-chip tourism destinations: Florence, Venice, Rome. Those who manage to buy a property in Maenza must commit to renovating it within three years and cough up a deposit guarantee of 5,000 (about $5,840) to be returned once works are completed. She has lived in New York City, Chicago, London, and Washington, D.C. *Nearly 20 years of experience in journalism with brands including Hearst, Bloomberg, Business Insider, and Yahoo *Received a master's degree in journalism from Northwestern University *Bylines in The Wall Street Journal, Departures, TripSavvy, and more *On-air contributor for KENS-5 TV and Wsj.com *Wrote inaugural Skift research report on the future of in-room entertainment. The historic location, high up on the wild Lepini hills south of the capital, where shepherds and fiery tribes once lived, is making available dozens of abandoned stone dwellings in the hope of attracting new occupants. These are destinations that draw millions of tourists each year. The Middle Ages were Maenza's golden age followed by bloody power grabs, with continuous battles between feudal lords and the Holy See. "This is not a dying city, people still inhabit the old district but it needs a revamp, fresh oxygen.". Around this time last year, as yet another town announced their intention to sell off properties for just a few dollars, I wrote about my thoughts on these cheap Italian homes. Sperduti told CNN that with tax deductions for eco-friendly renovations and earthquake-proofing, costs for renovations should start at100 per square foot and, in total, cost about 5,000. We are also half an hour from the beach, and in a short time you can reach Terracina, Circeo and Gaeta". In the center of the historic town of Lizzanello in Italys southeast, this two-bedroom, one-bathroom, 1,055-square-foot historic home is on the market for $94,530. I often asked if these 1 homes are a good deal. When tourism returns to Italy, I calculate that you could conservatively rent for 250 nights, just under 70% occupancy. Indeed, when I first heard news that the town of Gangi in Sicily was giving away homes less than the price of an espresso, I hopped on a plane right away to check it out in person. For instance, not far from Cinquefrondiwhere we have the latest 1 home offerI found a restored, three-story home on the market for just 35,000. on the ground floor a comfortable three-room apartment has been idealized which is in excellent con. Given most old dwellings are small, about 50-70 square meters, renovating them is a relatively cheap proposition. Garden of about 5,000.00 square meters planted with olive trees. The apartment is arranged on several levels, and consists of: entrance into the living room with open kitchen, fireplace and two convectors, on the first floor: service bathroom, large bedroom with summer / winter air conditioner, on the top floor: delightful very high attic with large bedroom, en-suite bathroom with a small relaxation corner. In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Im expecting to see values for best-in-class real estate to drop by as much as 30%, creating an opportunity to lock in profit-making real estate at a bargain price. Specifically, the initiative of the medieval village of Maenza is called "Pact for the historic centre". Were taking it one step at a time, Sperduti told CNN. The Italy 1 homes bandwagon rolls on. And now, due to the current crisis, its becoming vastly undervalued too. Energy class G. Euro 160.000, 00.--7a880a827a205ca440b04d3772923933! We've received your submission. This is why the administration has decided to launch this initiative, which has already conquered many small towns in Italy. Sperduti concluded by stressing: "Although the initiative has just started, there is already great interest. They're made of large rough dark gray stones with thick window frames and an arched entrance portal. Join us on a 12-month journey to see them all, He bought a cheap house in Italy. detached house on 2 levels ground floor 90 living room with fireplace, kitchen, bedroom with fireplace, toilet, garage, floor 1 sq. But I found great renovated mid-level homes for 30,000and super high-end homes for around 100,000. Trekking, horseback riding and cycling trails lined with wild orchids unwind to a mountain refuge stocked with food, firewood and coffee. Sorry, your blog cannot share posts by email. The property, located in a characteristic alley that guarantees its tranquility and silence, measures 60 square meters and is on the first floor with a kitchen with window and panoramic view and a living room with height up to the roof of the building in which it is located. Maenza In Italy Is Selling $1 Homes Right Now & How Quickly Can You Pack Your Bags? Travel + Leisure magazine may receive compensation for some links to products and services on this website. Just email town officials who say they're eager to work with investors. Lot of land fenced and monitored. Energy class G. Euro 160,000.00. Maenza, a town in Rome's Latium region, is selling homes for a little more than a buck. There's also a matchmaking service on offer. The town offers panoramic views that stretch to the sea. "The project is at the beginning," stressed the mayor of Maenza, "from here in two months we will publish the showcase with the available properties and then we will begin to accept offers".