ITALIAN village offering homes for roughly €1 along with a building grant
Bargain-hunting travellers and sun-starved expats may just have found the deal of a lifetime, as the picturesque village of Cinquefrondi in the southern region of Calabria in Italy is offering up doer-uppers for the jaw-dropping price of just €1 in an effort to entice more people to the region. The beautiful village has seen droves of youngsters abandon its rolling hills and sandy beaches to seek their fortune in the bigger cities of Europe, both before the pandemic and since.
To this end, Mayor Michele Conia, has launched Operation Beauty to attract foreign buyers to this little piece of heaven, situated right on the ‘toe of Italy’. I
‘Too many people have fled from here over the decades, leaving behind empty houses. We can’t succumb to resignation.’
it’s not quite as simple as buying a cut-price home and moving over bag-and-baggage, though, the mayor explains. Most of the bargain properties on offer measure no more than 40 meters in diameter, and require buyers to complete the renovations within three years or face a €20,000 fine.
The mayor estimates the cost of an average refurbishment to be between €10,000 and €20,000, but a €250 annual insurance payment is also required until the property is finished.
If the red tape doesn’t put people off, the location of the charming village might. Cinquefrondi is more than five hours away from Naples airport, but it is readily accessible by boat year round, weather depending.
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