The city of Penne, in the Abruzzo region of Italy, has launched a special program under which historic houses will be sold for 1 euro. The local government aims to improve the appearance of the city center.
“The city has more than 40 empty and neglected buildings, all of which are located in the historic center. The families who lived here moved out decades ago,” said the city’s mayor, Gilberto Petrucci.
“The program began in 2022, and six houses have been sold so far. The list of the next houses to be sold will be announced in the coming days,” the mayor said.
The program is set to sell several Renaissance houses in the town of Penne. Most of them once belonged to farming families. Many of them have moved to other countries, including the United States, Belgium, Venezuela and other large cities, to work in factories.
Most of the 1-euro housing programs require buyers to put down a deposit of between 2,000 and 5,000 euros, and the money is returned only after the house is renovated. But Penne is offering buyers a more affordable option.
“The only requirement is that the new homeowners commit to completely renovating the houses within three years. In addition, we do not require a down payment guarantee for new homeowners to start working. We want to encourage and support our guests in every way possible to revitalize our historic areas,” Petrucci says.
There is one more added bonus for program participants: Italian specialists - architects, surveyors, and builders - will assist the new owners in the process of renovating their homes.
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