The right way to purchase a home price one euro in Italy and Europe
“Purchase your dream for 1 Euro within the great metropolis within the coronary heart of Sicily, only a few kilometers from the enchanting seashores and historic temples of Agrigento,” says the Case 1 Euro web site.
“In Mussomeli you’ll dwell previous Sicily, actual Sicily. Mussomeli is a fortress city and Manfredi traditions. In Sicily, you’ll not solely purchase a home, however you’ll have the chance to expertise our tradition, our traditions and a sluggish and relaxed life in one of the crucial peaceable and secure lands on the earth.”
Itemizing in By way of Generale Cascino 44 – home prepared for renovation in Mussomeli.credit score: Case 1 euro
Unsurprisingly, one of many ceaselessly requested questions on the location is: “Is that this true or is it a joke?”
the reply? Sure, that is actual. This system is fully managed by the native council.
The work will be carried out with or with out native building corporations, however there are builders and designers primarily based within the metropolis.
obtain
Consumers have to journey to Mussomeli to bodily examine the property and get a quote for repairs and upgrades. If the quantity is passable, the possible purchaser fills out a purchase order order and should current it in individual on the municipal places of work.
The contract units a time restrict for the restoration (three years till completion), and features a €5,000 (about $8,000) assure to the council, legitimate for 3 years, which it would retain if the customer fails to fulfill its obligations and leaves the property in ruins.
Why are home costs so low-cost? In fact for tax causes. The tax construction makes it financially undesirable to personal a couple of property. If a household inherits a second dwelling, it could make sense to promote it for a small sum.
“In Italy, property tax is just not payable on the primary dwelling (for Italian residents solely),” explains the Case 1 Euro web site. “You probably have a couple of home, you need to pay for it. Due to this fact, many voters who personal a couple of property must pay a most tax to the Italian authorities, so they like to promote homes for 1 euro, quite than pay an extra tax.”
This text was initially printed on domain.com.au.
