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However, if you believe in yourself, you can achieve your goal; I’m confident you’ll be able to recoup your 20,000 Euro investment in no time. One of the first homes was sold to a retired builder named Vito Casula who lived nearby on Sardinia and had visited Ollolai a few times before. Formerly the capital of Barbagia, Ollolai’s once busy streets are now quiet after younger residents have moved away to bigger cities leaving behind dwellings that have been lying in ruin for decades. In the last 50 years, Ollolai's population has gone from 2,250 to 1,300. If you dream of owning your own home, but can't afford to buy one in your neighborhood, then consider a move to Ollolai, a small town on the Italian island of Sardinia that is currently selling fixer-uppers for next to nothing. In fact, a reality show centered around a group of Dutch families as they set up in Ollolai and restore some of the houses is expected to launch in May.
Meredith TabboneAnother buyer in Sambuca is Massoud Ahmadi, who was especially fond of the area’s Moorish influences and architecture and plans to spend half his year in Sambuca. Massoud AhmadiThe Italian towns are basically giving away properties in an effort to combat their shrinking and aging populations. According to Istat , in the last 20 years, more than 1 million people have moved from the rural southern region of the country to the center-north, home of major urban areas like Rome and Milan. Moreover, almost half of those migrating are young, between the ages of 15 and 39, and are more likely than older individuals to move towards urban centers with more job opportunities. Per CNN, the Italian initiative is meant to bring people back to the beautiful, historic town on the Sardinian island. Ollolai’s current population is about 1,300 residents, down from 2,250 around 50 years ago.
What The Location Offers
With the renovation, Nicola Scapillati hopes to see a return to Joie de Valois and a return to safety and security in the village. Castropignano can be found on a rocky hill in Italy’s central Apennine mountains. In the small town of Ollolai, Italy, you can buy a house for as little as $1.
The Dutch television network, RTL, has already bought numerous homes for a reality TV show set to air later in May. At least three other homes have been sold and over 100 bids have been made. Ollolai is the latest Italian city to turn historic property into 1-euro homes. Lazio, Tuscany, Abruzzo, Piedmont, Sicily, and Nulvi are already in the mix. According to their website, guests are invited to not only spend the night but will also receive a clothing item designed by the pair.
Your own Italian home for $1? You can buy it in Ollolai
The seemingly low starting price unfortunately masks the significant costs of renovation. In Sambuca , the council-mandated minimum renovation expense is 15,000 euros, according to Meredith Tabbone, purchaser of a 600 square-foot home. Tabbone had been interested in buying property in the south of Italy for about ten years. Gentilotti says that the Cantiano project’s objective is to increase the town’s population, stimulate income and transactions, and boost tax revenue.
With only a handful of babies born in the town each year, the country is eager not to let Ollolai become deserted. He hopes the refurbishment plan, if successful, will help create new jobs and revive the local economy, other than breathing life back into this currently solemn town. This two-bedroom apartment has a large balcony and a split-level living space. A luxury villa with over 5000 meters of private grounds completely renovated, fenced, and raised. This area provides a spectacular view of the countryside’s green hills.
Buying a property in Italy
But when the residents leave, so do parts of the community and culture that once sustained these thriving towns. As Arbau told CNN, “My crusade is to rescue our unique traditions from falling into oblivion.” He plans to do this by introducing activities like pasta and basket making, along with dialect lessons for residents and homeowners. With hopes to create new jobs and revive the local economy through his endeavor, Arbau’s Ollolai may have the potential to survive the urban exodus and carry on its traditions. Plus, if you’ve ever dreamed of living the Italian lifestyle and becoming a resident, it looks like now’s your chance.
The town was once the thriving capital of the region of Barbagia, but it has recently struggled to keep its culture alive. In half a century, the town’s population has decreased by nearly 1,000 people. Now, only about 1,300 residents remain, forcing Mayor Efisio Arbau to bring on the “Case a 1 Euro” project. According toThe Local Italy, “The phenomenon has its roots in the post-war economic decline of rural Italian communities, which saw more and more small town inhabitants emigrate to major cities.
Pignone, a property developer in Liguria, is preparing to showcase its selection of one-Euro homes. As a gesture of goodwill, the village of Castropignano is offering a 1 off coupon for the demolition of its abandoned buildings. Mayor Scapillati wants to find the perfect house for interested parties. Residents can send in an email with a detailed plan for how they intend to remodel their property and what they want to do with it. Residents in Castropignano, Italy, have been instructed to repair the condition of abandoned houses. If they do not, the town council will expropriate the property and sell it.
Arbau has contacted the former home owners to have them sign over the abandoned house to the town so that they can be placed on the market for discounted prices and eventually refurbished, creating new jobs in the community. The mayor, Efisio Arbau, hopes that the new residents of the peaceful town would help to revive the local economy and bring new jobs with it. The village, with friendly citizens, great food, clean air and beautiful views, is becoming a ghost town. Most of their population of 2,250 have gone to bigger cities or simply passed away.
The buyer must be aware of any damages that the previous owner may have caused third parties. In Biccari, Italy, a retired engineer from Germany bought a 150-square-meter house. There are many cheap homes in Italy that are perfect for those looking to relocate to this beautiful country. From old farmhouses to more modern apartments, there is something for everyone. The prices of these homes can vary greatly depending on the location, size, and age of the property, but there are definitely deals to be had. For those looking for a real bargain, it is even possible to find homes for sale for less than 50,000 euros.
Visitors flock here because it is located on the Adriatic coast and is close to the Tremiti Islands, a popular tourist destination. Lard-stuffed sausages, cold cuts, and cotenna (furnace-stuffed pork rind) are a few of the local favorites. A caciocavallo, or cheese with a rope tied around its neck, is one of the most common foods found in this area. Many of the buyers, lured by dreams of picturesque Mediterranean living, may be surprised at the true cost of a one euro home.
In a bid to breathe new life into the town, Arbau contacted former home owners -- shepherds, farmers and craftsmen -- asking them to sign the homes over to town authorities. Even here in the United States, small towns are left behind as technologies and economies change. Once thriving industries that are now obsolete force populations toward more urban areas and larger cities. If there’s one thing a European country likeItalyis committed to, it’s maintaining its beloved history. That’s why some—including a Mediterranean town in Sardinia called Ollolai—are going to great lengths to incentivize people to come and stay.
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