In the Italian town of Sambuca di Sicilia, homes are being sold for just €3. This initiative follows a previous program where houses were sold for €1.
While other towns in Italy have launched similar programs, Sambuca’s initiative has been particularly successful. Many of the abandoned homes in Sambuca are owned by the government, which makes it easier to put them up for sale. In other towns, authorities often need to track down heirs who have moved abroad or to larger cities.
The properties are sold through an auction, with a starting price of €3. This time, the authorities are offering 12 properties. Auction participants must prepare a €5,000 deposit, which the winner must provide as a guarantee.
Over the past few years, around 250 homes have been sold in Sambuca. Even those who did not win the auctions ended up buying other buildings in the town. The authorities of Sambuca implemented these measures to prevent the town from falling into decay.