Probably, the most famous pioneer of the €1 property market is Italy. Many regions, including Sicily, Toscana, Abruzzo and Sardinia, are offering apartments and villas on the basis of auction or other conditions. The reason is simple, people are living smaller towns to build a new life in places with greater potential for young professionals. Families are abandoning their properties due to lack of demand.
Most of houses and flats are placed in villages with low professional expectations, that is why some governments offer cheap property to those, who will be able to start a new business, mainly in a touristic field.
Different buyers have different opinions and plans for such real estate. The older generations with adult kids and finished career want to settle in a quiet place with a nice view for a smaller money. Some buyers want to find out more about their ancestry. There are also investors that purchase ruined buildings to make a family hotel or bed & breakfast.
The goal matters mainly for the administrations of such towns. Sometimes they have very strict conditions for participation in a €1-house auction, which every potential buyer should take into consideration. Not to mention difficulties caused by bureaucracy that can appear in Italy or Spain. The most important thing is to check the house with your own eyes, because in some cases building a new house is cheaper that repairing the old one.
But even with all these details people are still looking for such opportunities, hoping to get emotional fulfillment in a totally new place in their life. After all, it’s not too scary to be driven by emotions to a house for €1.
Where exactly can you find such properties? Which countries are generous enough to offer cheap real estate to foreigners? Let’s find out together.
Hard to believe, but even Tokyo, which is one of the most expensive cities in the world, is now offering properties for a price of a dollar. The luckiest ones can even get a small house in the center. There are also plenty of offers in a countryside. Of course, you need to expect a good rebuilding. But it’s not a big deal for $1.
Ever dreamed about moving to Canada? Well, this is your chance. Offers in Toronto appear on international portals from time to time, but you have to be prepared for them and control the traffic. They can be very popular at times and disappear pretty quickly.
There are several cities and towns across the states that offer property for a very mild price.
Detroit, MI, is probably the most famous place with low prices for several unfortunate reasons. But do not rely on bad news, it’s going to be good as long as you have a stable income.
Buffalo, NY, is another good example of tiny prices for houses.The area is filled with historic landmarks. If you are ready to rebuild, don’t waste your time and move in.
St. Louis, MO, is famous for its nightlife. Generally friendly area welcomes those, who don’t want to pay more than a buck.
Gary, IN, is the best option for you, if you hate complications. It is relatively easy to become an owner due to the government being by your side. A peaceful area, perfect for families.
Chicago, IL, is expecting those, who want to start their own business from the very bottom. Here you can get a land plot for a small amount of money. Just come to begin your new life.
A tiny little town in New South Wales has house on one dollar per week. Although, it is losing population, the government hopes to resurrect this place and bring the life back to it.
You can find cheap property on the Greek island called Antikythera. Located in the Aegean Sea near the Crete, it can be a great option for your family. This place is reserved for scientists and you can be financially rewarded, if you consider to stay there.
This is the most famous country with cheap properties. Each year a new location claims to offer houses for €1. Bivona, Locana, Ollolai, Cammarata are just a little part of a huge list. You can choose the mainland or islands, places near the sea or in mountains. Recently Cinquefrondi claimed to offer cheap realty with fast-track implementation procedures of purchasing.
Just like Italy, Spain has a list of towns of affordable housing. But this country went one step ahead and now offers the whole Ponga Village. Yes, there are pitfalls to expect, but let’s be real – a village only for you! Why not?
Monti Sciaga is a small town in one of the best countries in the world according to hundreds of top lists. The houses are sold for nothing to develop tourism, but it doesn't seem too difficult for a dedicated entrepreneur.
Tiny Roubaix next to Belgian borders has developed infrastructure and serious cultural heritage. If you are ready to live in this town with your family for 6 years and more, then why are you still here?