A Town in Liguria Has Joined the Initiative to Sell Houses for One Euro

Italian municipalities offering houses for one euro have been joined by Pignone in Liguria, the province of La Spezia. The municipal administration made such a decision to protect the historical center from possible collapses because of the abandonment of buildings.

There are several abandoned buildings in the historical center of Pignone. The municipality decided to launch an initiative to sell houses for one euro, acting as an intermediary between homeowners and buyers in order to remove the burden from owners who are not interested in the housing under consideration.

Goals. With the help of this program, it will be possible not only to protect the historical center, but also to save it from degradation. In addition, only 500 residents now live in Pignone, and this initiative is also aimed at attracting new residents.

Conditions. Officially, the program should start by the end of September. Nevertheless, since May to date, the authorities have already received about 3,000 requests, many of them from foreigners. The main requirements for buyers are already known. Those who buy a house in Pignone for one euro will have six months to submit a reconstruction project and three years to carry out proper repairs. In addition, they will be required to pay a deposit of €5,000 for works up to €50,000 and €10,000 for works whose cost exceeds this amount. The deposit will be refunded when the repair work is completed as planned.

Also read:
Accommodation in Sicily For 1 Euro
Get a House for €1 in an Italian Town Under the Auspices of UNESCO
Italy Sells Houses for €1 Once Again

Sourse: Idealista 

Quoting conditions of Prian.info materials