With the announcement of the latest crop of Italian houses going up for sale for as little as 1 euro, it is once again time to question whether to quit the 9 to 5, leave the city, and start a new life on a sun-kissed foreign island.
Like the many initiatives that have preceded it, the cut-price houses are being offered as part of a regeneration project. This time, the abandoned homes are located in the Sicilian town of Castiglione di Sicilia, known to locals as the “City of Wine,” CNN reports.
Perched on the northern slopes of Mount Etna, the town gains its moniker from its proximity to thriving local vineyards that produce wines from indigenous varieties such as Carricante, Catarratto, and Nerello Mascalese. The town’s reputation as a wine hub is also honored by a sculpture of a barrel and wine glass at its entrance, according to CNN.
Where similar projects have typically seen derelict properties sold for a symbolic 1 euro, Castiglione di Sicilia varies slightly. Of the 900 or so homes up for sale, nearly half are said to be in good condition and in need of minimal renovation. The properties are therefore priced to reflect their condition: The lowest are going for 1 euro ($1.20), while those in better shape will run you 4,000 to 5,000 euros ($4,800 to $6,000). And if one property receives a lot of interest, it will go under the hammer to the highest bidder.
Regardless of price, buyers must complete their property renovations within three years. No money or security deposit is required upfront — as has been the case with other projects — but owners are required to take out a 100-euro annual insurance policy from a local bank to show their commitment.
Ready to begin a new life in the City of Wine? Head to the project’s website for more info.
