Cinquefrondi, a community in the south Italian region of Calabria, calls itself a "pandemic-free village" and hopes that this will attract home buyers to invest in its abandoned but decent €1 homes. The aim here is to reverse the depopulation caused by young people heading off to greener pastures in search of work. Mayor Michele Conia has given this project the code name "Operation Beauty." Many towns selling homes for €1 generally ask buyers to make a down payment of up to €5,000, which the buyer forfeits, if they fail to renovate the house within a period of 3 years. However, Cinquefrondi only asks its home owners to pay an annual premium of €250 towards an insurance policy, until they finish remodeling the previously abandoned house. Owners of Italy’s €1 houses are liable to a fine of €20,000 if they do not renovate their newly purchased abandoned house within a period of 3 years.
To find out more about the homes on offer, email: [email protected]
*IMPORTANT Update: Many people have told us that the above email ID is not working. In that case, try calling them here: +39 0966 940818. Here's their webpage link: https://www.comune.cinquefrondi.rc.it/contatti
(it has many more contacts available, just in case the above e-mail is still not working.)
P.S.: The Italian snaps depicted in this video are generic.
#home #buyhouse #realestate
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