The Italian government’s proposal allows hundreds of young people to achieve their dream of owning their own home at ridiculous prices.
Italy implemented the House for 1 Euro Program to encourage thousands of families to move to their less populated regions. This plan became an incredible opportunity for all people who have the Italian citizenship and those in the process of obtaining them. The proposal was positioned as a popular option to cushion immigration costs.
This initiative of the European government is also known as One-Euro House and was approved by the Ministry of Cultural Assets, Activities and Tourism from Italy. It has the purpose of Recover and revitalize rural areas and small towns Italian cities, which are in danger of depopulation. This type of measure began to gain popularity throughout Europe and there are more than 60 locations to choose from in Italy.
These are the requirements to access the House for a Euro program in Italy
The authorities of the European country announced that applicants must submit an online application, demonstrate their financial capacity and the skills to carry out the renovations of the home they will acquire. In total, the following requirements were listed:
- Be over 18 years old.
- Foreigners will have to present a residence permit.
- Demonstrate financial capacity to cover fees and taxes associated with the purchase, as well as renovations to the property.
- It is estimated that there should be a Purchasing power between 5 thousand and 50 thousand dollars to invest in home renovations.
- Submit an application to the local municipality.
- Pay the security deposit from 5 thousand euros for 3 years coverage.
- It is required restore the house within the given time frameThere is time to start within the first two months and finish the process in up to 2 years.
- To settle permanently in the town.
Is it worth buying a house for one euro in Italy?
Italy House for 1 Euro 2.jpg
The proposal is tentative, but it is necessary to analyze the decision and take it calmly due to the secondary costs that the acquisition entails. While homes may vary, most of them are in poor condition due to years of neglect.almost in ruins. Fixing them requires money, effort, time and planning. The result can be very beautiful but it is an arduous process.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
