Castropignano is the latest town to join Italy’s One Euro House scheme and plans to ‘matchmake’ every buyer with the right property in the medieval hilltop village. It follows in the footsteps of several other Italian villages, which have sold off homes with minute price tags to encourage people to settle in rapidly emptying parts of the country.
The best thing about this pretty village town is that several houses here offer stunning river views. However, to enjoy those views, new residents will have to carry out some significant restoration work just like Italy’s other bargain houses. Before starting the work, the buyers will have to present their case before the town’s mayor Nicola Scapillati.
Castropignano is located in the Molise region in the Province of Campobasso, on a craggy hilltop around an hour’s drive from the region’s 35km of coastline. It’s home to a medieval castle, supposedly built over the remains of a Samnite fortress. Properties will cost just €1.
However, its mayor wants to know potential buyers’ plans before matching them with a building in the village. He also cautions that Castropignano’s narrow streets cannot accommodate cars, so the town isn’t suitable for motorheads.
A number of towns in the country, including in Sicily, are selling their properties that are vacant or in bad conditions at bargain prices. With this move, the government hopes to revitalize and repopulate their empty towns and bring back some life.
A number of houses are auctioned and sold to the highest bidder. The bid begins at around €1 and is mostly sold between €5000 and €10000. Once buyers have secured a building, they’ll need to hand over a deposit of €2,000 which will be refunded once the property is fully renovated.
Sources: YouTube Business Insider, CNN.