The Truth Behind Italy's $1 Homes
ฝัง
- เผยแพร่เมื่อ 21 ก.ย. 2024
- Starting in early 2019, 20 towns across Italy began selling homes for €1, or about $1.10. Local governments hope the plan will attract fresh faces and new businesses to towns that have been suffering from rapid depopulation and a growing number of abandoned homes for decades. But the true cost of these homes turn out to be much higher than $1.
MORE $1 HOMES:
The Truth Behind Those $1 Detroit Homes
• The Truth Behind Those...
------------------------------------------------------
#Italy #Homes #BusinessInsider
Business Insider tells you all you need to know about business, finance, tech, retail, and more.
Visit us at: www.businessin...
Subscribe: / businessinsider
BI on Facebook: read.bi/2xOcEcj
BI on Instagram: read.bi/2Q2D29T
BI on Twitter: read.bi/2xCnzGF
BI on Amazon Prime: read.bi/PrimeVideo
The Truth Behind Italy's $1 Homes
![[LIVE] : ONE ลุมพินี 80 | คู่เอก "รักษ์ vs ยอดนำชัย"](http://i.ytimg.com/vi/ckLMRorsMeY/mqdefault.jpg)
Wait, so the $1 houses weren't fully furnished, immaculate manor houses? I'm thunderstruck.
Lmfaooo
It's a scam, these are dumps not homes. There are abandoned mining towns in the USA too go live there.
Lol
@@notbindi Exactly, and you can hire it out as a holiday home and get a return on your investment
@@notbindi and if you're very passionate about that stuff you can save a ton of money doing it yourself
They are literally giving a piece of land for free. The least you can do is spend your own money in building a home. What were they expecting?
haven't found anything related to the ownership of the land.. this may be the main catch.. who knows?
@@rerikm the land should be included, I don't remember this concept of leasehold vs. freehold when I was living in Italy
They expected furnished homes ready to move in so they can take a picture and post it on instagram. Just to think there are grown ass adults believing in free stuff is incredible.
Plazmica 032 a product of socialism
@@order_truth_involvement6135 no, a product of post modern entitled idiots...
imagine buying an abandoned house for 1 dollar and complain.
Imagine trying to be a smart ass without even watching a 10 minute long video. All of the people interviewed said that it was still worth it, and they would do it again.
Kasey Lisk lol, so are u trying to be the smart one here-
@@kaseylisk5019 I mean based on the comment, you sound like you’re trying to be smart so.
@@kaseylisk5019 cool, if that’s your assumption of me.
@@kaseylisk5019 The commenter was trying to make a joke
seems like the perfect place to move for remote workers, having clean air and beautiful views
From my perspective and understanding, it's a brilliant move by the local government. You start an international movement by bringing people from all over the world to renovate the worst of parts of the town at no cost to you. Plus, all of these people = more business for the locals and keeping the town alive.
True.
It's quite a common tactic for councils as it's better to sell the houses off for nothing in the hopes that someone will buy and turn the land into a tax generating property. The council loses nothing by giving the houses away.
I agree!
That's not how it works. Gentrification won't help the people who live there make money, it will just invite the people who already have money from other sources. At best, the city's property value will skyrocket and become prohibitively expensive for anyone who doesn't ALREADY have money, and then crash because the city won't allow other people to make money to afford it.... repeating this cycle in the next 50 years.
@@2livenoob How selling properties in dying towns for a euro makes homes unaffordable? They are not limiting who can buy the properties, the locals if they wanted to could buy them. Even with auctions most went for a few thousand euros, and one for 20 000e. They are not sold at prizes the locals couldn't afford. The homes are in fact more affordable for Italians, they don't have hire translators, spend money on travel, and they are familiar with how things are done in Italy.
Take example the town Sambuca 1:14, the population dropped from 8 000 to 5 000, and it was still dropping. The town has to have hundreds of empty homes, selling 60 of them is not going to make the property values skyrocket, especially if the starting price is 1 euro.
You need to understand that these are old densely packed towns, the homes are small, and there is no space to expand. People looking at these homes are not looking for a mansion, nor can they renovate any of the buildings into one. These small sleepy towns are not attracting the ultra rich.
The new people moving in, will need the local labour force to renovate the homes, they will eat in the local restaurants, they will shop in the local stores, and if they rent out their homes that'll bring tourists who in turn will spend money in the town.
$60,000 in renovations sounds like an overestimation. It's still cheaper than most houses in the U.S.
Well, lots of things will cost you more to do. There will be less people/businesses around to help and supply you with things. It won't be commodity cheap like much of the US.
@@cuchidesoto2686 facts
@@naycnay my mum spent over 1 million over 8 hrs
@@cuchidesoto2686 sounds like my old house in England. No public transport or shops, no medical facilities. House was worth over £600k. Plenty of people in the village didn’t have cars or parking either.
@Charles Martel You know Italian state refunds up to 65% in taxes in next years if you made anti-seisismic restoration in your home?
When they advertised these houses, they gave the details about the conditions. So if people paid 1$ and bought these houses, they knew what they were getting into.
Im just glad idiots payed hundreds of $ in plane tickets just so they can come and see how stupid they are. Watching it i doubt that that idea dawned in some of those peoples heads.
No, they paid 1€
Plazmica 032 the Europeans probably only payed €30-70 to fly there while Americans probably payed hundreds
KELLI2L2 wouldnt you agree that covid escalated their deaths
because they are dumb
It's still a $70k new renovated home in a romantic, quiet town in a country with very pleasant temperatures and good food.
Compared to other properties in Europe this seems like a massive steal!
I don’t know what people were expecting. The house was $1. Of course it’d be a dump for that price.
And that means you have a great house for you to renovate from zero.
Bro for $1 I'd have no expectations.
No one in the video said they were expecting anything else. The couple even said in the middle of it, "It was $1. Of course it needed to be renovated!" etc.
@@codymifsud2448 me: I can finally buy a house
House: do you have 70k for renovations?
Me: pickachu face :o
Exactly. The land is worth more. Tear it down and build anew.
Oh no really? So they aren´t just handing out perfect houses for 1 dollar? Travesty.
The more you know uh?
Cazzo di americani
I know right? Like wtf
No one said they were expecting perfect homes... Not sure why all the comments like this.
bluesira it’s called ✨sarcasm✨
Who tf wouldn’t be grateful for this?
A home under $100,000 is still a really great deal
You’ll never find a location with that much culture, history, and tourism in the states for that price
Well said, breana
The amount of people leaving the city says otherwise.
Oh wait. Didn't get that you were referring "the states" as "The States". Nevermind.
You have to be really in love with no attractions, no amusement and many others things, I’m a young woman from Sardinia and my city is quite small, here doesn’t happen so much, if I imagine to move in an even more little city I’d prefer to die. This city maybe be suitable for elders, people who don’t have many amusement needs. Life in those cities are very simple, basic, young people are escaping for good reasons. But those can be good choices as vacation housees just for few month a year when you live in a veeeeery busy metropolis and need to just relax.
@@budle89 ahhh!! sorry about the confusion!!!
It’s probably will also have a really cool international atmosphere in the future
I am flabbergasted to see that towns THAT big are getting depopulated. I’m from the north Spain and I have seen my fair share of tiny villages with around 500 residents and I’d understand moving out of those (even though there is little to no abandoned houses here since people love spending their weekend in the countryside) but these are full on CITIES. With historical architecture at that wth!
I lived in a village in Castellon that was similar... very quiet most of the time... unless the bulls are beeing ran or something festival related. 600 ish people during the off months...
Spain IS GREAT for holiday ! Are there same kind of villages at Spain too ?
Agree, I lived in Italy in the province of arrezo and just 20 years ago it was big, now I believe it’s small. Not sure that because I move here to England in 2015. Most people I knew went else where in different countries.
@@holoholopainen1627 Yes there are! Whether you’re looking for a mountain escapade or a seaside town there’s plenty of places to look at! But I don’t know if the $1 homes program is a project available in Spain
People need jobs brother, back in the day you'd be able to do fine before greed dominated the western world. People used to respect the simpler professions and factories taking up a relatively small area could employ large amounts of people. But these days simpler professions are treated with disdain, factory jobs are being sent overseas, agriculture is dying, etc. etc.
My city of 50,000 is having the same issue, less decent jobs and rising prices mean people have to find a way to make a living so they move to the bigger cities.
So instead of $1 it's more like $75000? That is... still a really really good price. It's just a lot of work.
@@dev_kaos You can see why it'd be a perfect project for a retired couple or as a holiday home or something, obviously its not for everyone but its definitely not a "scam".
It's pretty good if you are retired and so you don't need to work to live and you are willing to stay in a really remote place with little services, the only pro is that life in those places is cheaper than a city
@@Franz.guarda The thing is the town started this so YOUNG people will come and repopulate the town, if its only a good deal for old people, then the program was a failure.
@@roryhanlon927 it will be my future town my own World if no one will interested to live their I'll make a new world with diverse people those girls and orphan who were just 12 yrs and sold by their own parents and orphan boys i will buy them teach them skills like farming and AI and 3d printing well make world
where you diverse food tradition but a common language as english with hygiene and cleanliness only if locals have tolerance.
@@dev_kaos Totally agree with you. I'd rather prefer a smaller, ready to go apartment in a normal town with some infrastructure. What towns in Italy would be your preference with this criteria?
"We will call it 1 dollar homes"
Because calling them 1 euro homes was so difficult...
Because other wise it means America is submitting to Europe
@@mmmmmmm7304 lol
Hahaha!
@@mmmmmmm7304 lmao what?
It would require thinking
“Sounds like a rip-off”
No! A house where I live is easily $300k. $70k is a steal for a completed fixer upper that started in major disrepair.
Once done an earthquake will come along again and it's shit.
The mafia comes knocking.....
70k for an house in sambuca is a steal? Ahahah you don't know what are you talking about, in a small town of southern italy with 70k you can buy almost any ready to live house, without wasting all that time in restyiling... think If italian have all gone away from that places, maybe a reason exist 😉
@@T42282 Local Mafia probably.
Of course any part of southern italy is sketchy aF
The only problem is if you are from the USA you can’t stay more than 90 days without leaving for 90 days before returning without getting a visa and the kicker is you are not allowed to work at all. If Italy would make it easier for home buyers to get citizenship more would come including my wife and I.
Whats amazing is that you would basically be rebuilding a city back up with others and probably make friendships for life that live right next to u. That in itself is a selling point.
Hallelujah
yeah when I grow up I wanna move into a small town
In a gold rush,.. sell the shovels ;)
Also look at the view around the town !?
friendships with people in their 70s or 80s
I mean...what did people expect? That you’d get a palace in a Mediterranean paradise for €1?
The purchasers knew what they were getting into. It's some of the people who failed to pay attention to the short video that didn't think they did. (Title of the video didn't help much, either. )
what people? TH-cam commenters?
It's advised before hand, you need to rebuilt, even it's said on news about it
🤣IKR!
Its far from paradise trust me I lived there
All the repairs and deposit combined is still cheaper than ANY home I’ve ever seen before.
Honestly,investing on this houses are cheaper then investing in a fixer upper in the US
In my country Punjab you can make mansion with 100k usd
trufiend138 um, yeah, demolishing not allowed. That is exactly the point. You have to refurbish what is there to keep the original appearance
trufiend138 I guess that would be something you would have to ask them. Their standards might not be the same as what you or I would declare as structurally unsound
Ever been to a tax foreclosure auction? Plenty of cheap homes, but you need cash!
My friend has a home in Italy, they basically just bought all the materials themselves for the renovation and moved them by truck from Germany to Italy. There, they hired some German speaking Italians and some Polish workers to do the work. It went pretty well. they also made sure they had all the paperwork done before.
That's great, but... the could have bought the materials in Italy?
@@germangarcia6118 Yes, but that was more complicated, and this way they could prepare everything beforehand and maybe get a better deal from local connections. And know exactly what they would get, which I guess is a bit more difficult in a country you are not familiar with. (They now speak fluent Italian, but not at the time)
Lol, indeed italy must be happy about that. Did they bring their wurst and beer too ?
this is exactly what they did in NYC in the 70s. Sell whole buildings for a couple of bucks on the condition that you repair them within a certain amount of time. Those who took the task (usually mobsters) obviously profited a lot.
thats when and how Trump built trump tower... the crime families controlled everything and now they are in the white house
2big 2fail dude stop bringing on your political lie bait into TH-cam comments on a video that’s nothing about politics
@@philtripe wtf are you talking about?
A little town of 7000 people in the middle of nothing in the poorest area of the south of Italy where people don't even speak english can't be compared to New York
2big 2fail shut up about politics.
$70,000 in renovations isn’t too bad if it makes the home worth $100,000
m uh the houses will be rebuilt. They will look good and people would want to live there
m Uh, I know someone who did. Now he just gives it to other people for rent and in 5 months will profit.
@m Nah he's not the only one.
You spend years on it... 30k for years of work isn't worth it for me
A home worth 100k in a desolate area that has no buyers or resell opportunity that cost you 70k in renovations is called a bad investment aka wasting 70k. Btw, only 70k nbd.
Do they expect a 5 bedroom furnished house with a fountain and a tennis court with an Olympic pool lol
Facts
Ikr😆🙄
Italy: come buy abandoned homes for a dollar
People: WTF its not completely repaired and fully furnished why did i spend a dollar on this
Well I mean maybe not a fountain
first name last namec What do you expect an /abandoned/ home to look like?
I work at home. as long as there's an internet connection, I'm very tempted to move there. Owning even a small house in a crowded place is a nearly impossible daydream nowadays. people think its downside is renovating cost, but why is that a problem? still cheaper than buying a house and you get to renovate it as you want. I would build a cool book nook with large windows.
Those are people who click on links that promise them free money
are things so bad and so hopeless that you want to move into a wreck in a dead town in a foreign country? People have this romantic image of Italy which is true for some places there. But in Italy there are also shithole places that people leave. And investing there will not find buyers later.
This is hilarious. “The true cost of these homes is far more than a dollar.” Wow. Thanks for clearing that up. 🤣🤣🤣
Yeah, it's a $1.10
@@cheeseisgud7311 lol ya get what ya pay for
Lol hahaha
Oh....you needed someone to clear it up to you? Your brain is retired and cannot do it by itself?
Lol 😂
$70k after renovating? That's still incredible
Ikr even a tiny terraced house in lancashire is £100,000
Cat Craft a small 900 square foot apartment where I live can go up to $600k where I live
My home is worth around $150k....and it is a shithole. I cannot afford to fix it because NY taxes are so high. That is why so many are fleeing the state. The Dems are destroying my state. I wish I had the way to go to Italy and make a buy...I would start the process with love (not to mention my family is from Italy❤️).
Sydney, Australia people be like: Even at $76,000 that's still $1.4 million cheaper than here 👁👄👁
@@juliettesthoughts1031 Ask a local agent to make the buy and pay a deposit to hold it. Go over there and renovate when the pandemic has passed or a vaccine is available.
As long as there are no earthquakes, typhoons, and sinkholes - sounds like a great deal.
Uhh the intro of this video clearly says that this town abandoned because earthquake
Typhoons?
none of that. it's just haunted. lol
If you have money to restaurate them.yes
What about bugs, robbers, security?
I'd love to hear how things have changed in the last two years given demand for rural, or at least not-urban houses has flourished with work-from-home orders/abilities. Unsure of the Italian government's response to covid was but in Australia we were told to work from home if we could. Even when allowed back to the office, many people didn't, and many who did did so fewer times a week and continued to work from home a lot. Allowed for working from anywhere with internet, and being in an urban vs. commuter town or rural area being much more favourable than previously.
Yeah that's right but services in those cities aren't really good, that's why so many locals go away. Working from home can be difficult due to an unstable and slow internet connection.
Don’t get fooled. The money to renovate and all the Italian rules will ruin ur plans. Steer clear. They should pay ppl to take them!
Work from home is still not very practiced in Italy so the moving to the countryside for a better lifestyle while working from home thing affects very little people there.
Okay but someone needs to open a hardware store in their "dollar home" real quick. Then all of the new people can buy building stuff from them.
Fuckin genius
Your a business woman!
Can confirm. I'm completing renovations on a $20,000 house with $80,000 renovations in Poland. We have 3 big DIY stores within a 15-30 minute drive. We're at ALL of them so often that we're ready to ask them to just rent us a suite in the stores!
👍
Local bureaucracy would never approve it. And your customer base would be about one dozen.
How a mayor cleans up and increases tourism in his town while still getting paid. Seems like a win win for everyone great work!
My best friendbought one, now his fiancee is pregnant with the neigbors ( giovanni) baby,
@@ChanaElisheva yes
@@ChanaElisheva columbus
This is literally how the USA built the suburbs.
@@ChanaElisheva RIP Chicago
if you have friends in Italy you can do the work for 20k easy , and even at 60k euro renovation it's a spectacular deal to own a house in sicily in a land blessed by sun . you can grow fruits and veggies whole year around . i wish i could have done it.
Then why aren’t you doing it then?
@@BeautyLilya they said they stopped due to COVID-19. So maybe that’s why they aren’t.
nobody wants to live in a dead city with old people only
@@stertcraft You make a great point, but it looked like their was some young people to but not many.
@@stertcraft about that, not all the 1€ houses are in remote abandoned villages, some are in towns not far from big cities, there's still a few like that.
My parents are trying to give away my grandma’s house in a little town in Southern of Italy for years! Not many people wants to live in small towns anymore. It’s also a big house with 2 floors and storage rooms. It’s a shame that there are people with no homes and so many abandoned. They even asked the major to donate it to the city, but there are no many to renovate (even though my grandma’s house is in a decent shape nothing like those).
dove si trova?
@@mcspkaput5954 e' in un paesino chiamato Belsito, in provincia di Cosenza
Ha. If this was true, we would move there! We have 10 kids and are homeless!
@@Flat_Earth_Addy i think that if you manage to get a worker visa for italy for your family, i think she would actually rent it to you for free, i am an italian and it's a thing, she is probably attached to the house and doesn't want to see it go to ruin
@@mcspkaput5954 We are Canadian of German background, living in Albania. Life here is impossible. They say its cheap, but not when jobs pay €100 a month.
“That’s Gillian, she’s from Scotland”
We knew
@@andrewegan7011 I think you missed the point?
🤣🤣🤣🤣
@@andrewegan7011 wtf?
@@andrewegan7011 the snp is a nationalist conservative party. They are definitely not socialists
🤣👌🙏
buy a home for 1€
the home: looks like a hammered sh*t
me as a home designer and engineer at the same time: I see this as an Absolute win!
Woah I'm student and studying engineering. _.
Can you do my house?
Can you do my
Do it do do it
Can you do
"Those are homes that cost 1 euro, so we’ll call it a dollar house."
Typical Americans
Very American
The dollar is the more recognised and accepted currency in addition to it being the most international, so it’s more appropriate for a global audience.
@@waterdrinkingexpert6797 well in that case it's not a dollar..it's more than a dollar....
cat_loves _curry it’s a difference of 10 cents, as near as makes no difference.
I did the conversion, and at current rates, one of these homes would cost 60 lakh rupees. This is rural Italy. It might suck a little, but it's still Italy. A house that size in rural India (if you have the land) will cost around 40 lakhs and take 3-4 years to be completely completed. Now that is a really good deal in my opinion.
It would be really cool for a trade school to buy a bunch of them up and send their students abroad to work on them.
Yo that would be really cool
Great idea!
But then they'll skyrocket in price.
@@JonatasAdoM that's not a problem. No one living there is the problem. If they can renovate them then rent them out the school will continue to do it. The biggest problem is Italian red tape, it's extremely slow and difficult process.
They won’t be 1$ anymore after that 😂
I’m not sure what the “rip off” is ... these places were pretty clear there’d be renovation costs and time limits when they advertised 🤷♀️
Imagine thinking losing a dollar is a ripoff.
@@j-sant-animations8105 you do realize they had to pay to pay more for reparations
@@supe4701 ripoff as in they’ll get paradise for that one dollar. The rebuilding is the commitment, not the purchase
of course it is a scam. this is a redevelopment project that the italy gov itself is supposed to pay for and they are putting a nice name over it to fool foreigners to invest and do the hardwork for them
@@j-sant-animations8105 would u feel the same if u r asked to built a home in some poor African countries? coz it's no difference.
I mean, they did say they're selling old abandoned houses. Here in my country, a one bedroom apartment could rake up to at least 500k. 70k is a pretty good deal.
Which country?
In my country 🇸🇪 it will cost you at least 100k
In LA for a one bedroom apartment, it's like 800K
In Melbourne Australia it would cost about 1mil and up😅
In Philly, the prices ranges from 80k to 4 or 5 million. Depending on what neighborhood you're in. Because of gentrification, the prices are steadily increasing. Which is good. Higher house cost would mean better schooling, grocery stores and more money being pushed into the community. But, there's a lot that are being pushed out.
So, you'll see an increase of crimes in other neighborhoods that you didn't before. Like in Northeast Philly. My mom said that it was a very nice place back in the 80s or 90s. It was considered where the rich people lived. But because of gentrification, she saw a change. But I was too young. So, I just take my mom's word for it.
My wife and I just paid $260,000 for a 3 bed, 1.5 bathroom house in Rochester... $76,000 for a renovated home in rural sicily still sounds like a steal!
Well you are an arrogant millionaire. For those of us raising 10 kids on $20 a month, where would we possibly get $76,000? Let alone the fact that when you get the house, you can't legally live in it!
@@Flat_Earth_Addy
If you've $ 20 a month, you're an absolute donut if you have a child, nevermind several.
Until you realise that you'll have a low-wage menial job AND still a 2 hour per day commute and half your neighbours are old-fashioned boomers who only last year moved past throwing stones at you for cycling on sundays.
The death-spiral of tiny villages is a bit more complicated than just housing prices.
BTW, I paid € 500K for a 3 bedroom, 1 bathroom, 1 toilet and large attic house in Naarden, the Netherlands. Yet if they expected me to move there to Siciliy, or even one of the death-spiral villages here, you couldn't pay me to move there. And I'm a rathole 20K village myself.
I mean, you yourself could've picked a $ 1 home in Detroit, but you didn't. Probably because you like to have work, don't like to get robbed weekly, don't like to see all your tax money sucked into a gaping hole called "This is the gap corporations left when they burned the place down", watch your kids get beaten up for being 'crackahs' weekly, get shot monthly and you prefer neighbours that are fewer than 100% hardcore racists who look at you funny all the time.
So.... A tiny village full of old-fashioned boomers? No way. I grew up in such conditions and 18 years of watching people escape 'the fold' with booze and drugs, cycling 15 kilometers just to find something to do on the weekends, before listening to how this or that boomer guy fucked his own kids but the kids had the nerve to go to the police and ohnoes only now it's a scandal..... I've had quite enough for one life already. Give me the bigger towns, but not the cities.
Those 'tiny, rural' towns still look so much denser, more beautiful, and more exciting than North American suburbia
They are
Yeh but America is a relatively new country, so of course ur not gonna see alot of what u call beauty, but there are still lots of beauty such as wildlife, national parks, cities and events u can go to. Hell even the little town I live in is the gateway to the Okefenokee Swamp and of though the park doesnt have good funding anymore u can go and see exhibits of our towns history. Our constitution and freedom is what makes us great as well. And the fact that suburbs exist is a good thing because it means we have a strong middle class.
Spot on!!
You think that because you don't live there. Italian tiny rural towns are nasty places full of all kinds of stupidity, bigotry, backward thinking, thinly (very thinly) veiled malice... quaint in appearance, but rotten to their core. They may be "denser" than American suburbia, but not only the way you meant it.
Ong
"The Truth Behind Italy's $1 Homes" Sound like there's a a scam hidden underneath, but for about just one euro did you expect the mansion with swimming pool and butler? It is clear that once you have bought the property you have to renovate it and secure it, most of the properties are still unsafe due to the earthquake. It is a project made to try to repopulate this country in a beautiful area that has been abandoned for years.
I think it’s just calling out the click bait ‘journalism’ that has been spreading about the $1 home scheme like wildfire around the internet. In reality the deal was never that the home would cost $1, and social media has not accurately reported the facts. The clickbait stories also haven’t reported that there are legal obligations on buyers to invest further after the initial purchase. Lastly, international audiences have been frothing over the cheap property because their local markets are so inflated. I think these Italian officials know that North European and American buyers don’t have a clue what property actually costs in Italy, and I bet if you compare a 70-100k flat in a depopulated southern Italian village to other property around the country, it’s suddenly not so cheap. But foreigners from richer countries won’t know that.
no course we didn't expect that the butler was completely optional
@@joejacko1587 👌🤣🤣🤣🤣🤣
I thought they ment that Sicily and other parts of southern Italy are literally controlled by the mafia
I don't know. i find it still wierd that it's listed as 1$ if the deposit is already 5.5k
They don’t have a hardware store... sounds a like a good new business to start :)
It means they didn't need one.
Can't run a hardware store for one renovation house.
Exactly
I heard that opening a business in Italy usually requires a lot of bribes.
Yeah easier to get scammed by the locals.
@@hollypaddock105 u mean requires being extorted by the locals... or ☠️
Perfect. A cheap home to make a dream home. Renovation done by local workforces. Brilliant!
in your dreams. people left these towns in droves and not because they were such a great place to live.
Im Italian. For what i knew about the 1€ home in north italy, You can’t buy it and resell it, you must make it as your own residence (that means that you need to live there at least more than 6 months a year i think)
As it has being said in the video, the point of the 1€ home is to repopulate these places not to speculate, so i think that’s the same in Sicily.
EDIT: It seems it s different in Sicily and you don’t need to live there to buy a 1€ home, still there are other “must do” to be eligible.
Esattamente. Altrimenti le avrebbero tutte comprate imprese per lucrarci.
You saved me a lot of time. Thanks
I wish I can buy one if I get there
Most informative comment. Thank you!
Good to know. I wonder how the youth in Italy feel about their future job prospects with respect to buying power elsewhere in the cities.
This reporter talks like 2000$ is costly. It's still pretty cheap for a house
$20k is a lot in comparison to $1, which is what these homes were being advertised as in headlines
But you’re still going to be paying property taxes
@@Dieselsaabvolvo paying property tax for 100000k house is different and property tax for 2000k house is different
I paid almost 500k With 20% down for a semi that needs to be comoletely renovated. Base board heaters, aluminum wiring, old single pane windows.
That's what you get an hour away from a major city in Canada.
Pretty insane really.
@space cowboy#2 1000 a week.
It's decent but I know people with much easier jobs who make double.
so lol, I can sell my small flat in social building in Russia, buy a house in Italy and repair it and still left with substantial amount of money after that
@@Couchlover47 hahahahahahha
Whats stoping you of do it?
@@marianocolsin8968 numerous things, but mainly very poor health condition, because of which I can't be sure if I'll be able to work, if I even find any
@@quite1enough I'm sorry for that. Hope you get better very soon.
@@marianocolsin8968 ¡gracias!
In the Val di Noto area (Southeastern Sicily) prices are low too, and there are many old historical houses that are being sold and renovated. I love seeing how the countryside is experiencing a new life. I strongly encourage this cultural enrichment, which is always been part of the Sicilian culture.
Too expensive and dangerous.
@@Flat_Earth_Addy No
Gold digger: how rich are you?
Me: I own 50 houses in Italy.
😄😅🤣
Lmaoo
Lmfao
Start digging your own gold! 😅😅😅😅😅
🤣🤣🤣🤣🤣🤣
Who else really wants to buy one of these houses and renovate them to beauty?
I want to i like renovating but i can't because of corona
Meee... i wanna do this! Damn! But i’m from Africa i’m scared of the racism
@@ashaismael2379 idk i saw in italy a lot of people from asia and africa and they said that they didn't expirience any raisism maybe in france but not in italy
@@lianborgiademedici1016 racism is everywhere. Is not bad like in the past but i mean there are some right Wing crazy bastardards with the Casapound or the leghisti. But in general only a little percent is stupid or racist here.
I want to get a whole building! It might cost me no more than 50 euros hahaha
Still cheaper than anything my government would call an affordable home for first time buyers.
FACTS.
I'm stuck in an inner city slum because I don't qualify or make 3-4× the amount they're asking which isn't a lot for a rental home but I'm on disability atm and barely make it through the month with a broken down car.
Rent is $670 plus gas and electricity.
20k after renovations ? it's still a good deal for the common international tourist.
Fix the house; get a vacation home; get return on the rent and airbnb etc.
These are still cheaper than houses in the US even with renovations.
What about houses in Detroit?
@@CursedMudflap Do renovations in Detroit and they will burn it down and steal the new copper out of the walls in a week.
In Italy you might still have a house when you finish renovating and there won't be half a dozen dead bodies in the empty burned down lots on your street.
@@scwirpeo living in a new house in detroit must be like in 7 days to die where at night the zombies come out and attack your home. Sounds badass.
I don't know about that, sounds too good to be true
@@CursedMudflap hell no!
I wouldn’t live in suburbia jungle
It alot cheaper to live in europe than USA
We bought an 800sqft home for 23k (not in rubble/structurally sound/just needs facelift) and our architect is doing complete renovations for 20k in southern Italy. Totally worth it.
LOL (having watched plenty of footage of this kind of thing, you are dreaming) 20K hahah! Even the property taxes and approvals will exceed that.
So there were problems or concerns with cost, availability, and delivery of building materials and then cost of architect and contractor? Your architect is your contractor doing your renovations? I meant 2 ask there were no problems or concerns?
Sounds good! Good luck guys. Even if it's a bit more I think it would be still worth it :)
@@mozdickson thats what holds me back, I live in rural USA, I have done major renovations to my home, property, never once needed an architect to draw plans, nor a contractor to do any work, I am fully capable to do all my own work, other than roofing now, but never need to get anything approved, or red tape,
growing up, I worked many years of my youth for a licensed contractor, so I know what I am doing, and I also graduated from electrical programs in college for electrical wiring, so why would I want to pay for people to get involved with red tape? and contractor to do any work I could do myself.
my wife is retiring either this year or next, undecided, I may work 4-5 more years, but would love to have a vacation home to stay at months at a time. presently I do own 3 homes, with 45 miles, & I have done all work myself, but its time to sell 2 of them.
@@mozdickson You would be surprised, having a home in Italy and having hired contractors and asked handy older family members and their friends for help, renovations are pretty cheap in Italy. Especially because the demand is low.
It’s always too good to be true. But it’s still much cheaper than buying a brand new home. Wishing them smooth sailing with the renovations. May they all be beautiful in the end and they enjoy it to the max!
It... is true? What were you expecting?
70,000€ for a home in the Italian countryside is cheap. I think the buyers considered the price and still thought it was a great deal.
@@maxhearn502 Yeah, for 70000 euros you could probably only buy a 40 square metre flat in an Italian town. A whole house, like these are buying, would cost, at least, 200000 euros, if it's in perfect conditions
It's a DIYers dream
@@OpiumBride There's people who probably live in fairytales lmao
This was a brilliant idea , I don’t find it bad at all ! It’s too bad we don’t do something like this in America with abandoned homes!
Great Idea
because Italian homes are made with bricks, rocks and massive wood and they last forever if there is minimum maintenance, north american homes are made with poor materials and need a lot of work during their life.
In 3-4 years this place is gonna be insanely nice
I hope so i'm not from italy but i love their project
Not so soon, but in 10 yrs time they will open also business and population will grow and tourists will come to visit.
Are you sure about it?
@@andybaubau5961
If you know Italy a little bit you won't have any doubt.
Nice = full of yankees and expensive hipster cafes? No, thanks!
If you are being sold a 1$ house don't expect it's going to be a new house. 70k for a home in Italy is a great price.
dipende, nei villaggi sperduti della sicilia le case completamente abitabili possono costare anche solo 30mila euri
It's really not you have no idea about anything stop.
At 70k I can find something a lot better than a run down trash in a dying city.
@@markdove5930 for 70k you would have an really modern and expensive house, none of the houses they showed was that expensive probably less than 30k
@@filippogamer2994 is Italy really that cheap?! Only 70k for a really modern expensive house?
@@youraveragejoe1 no but if you pay 1$ for the house and you don’t do a lot of work. I don’t remember it was a lot time ago
Interesting way to rebuild the city. Through investors.
Yup they know what they doing
The economy was begging for it
Trying it in detroit. Its not terrible. Better than nothing at all.
I would start a business out there , Screw a sexy italian woman & fertilise her egg. Then marry her give her a baby & buy a house. How does that sound does it sound good?
@@glamorsocial7081 that's my dream. I love Italian women...
Great to have disposable money to get into one of those houses in Italy. Had to spend mine on a great 100 year home and separate cottage, on 1/3 acre, in the middle of nowhere in the tundra of Minnesota. So far about $124,000. Love the house and cottage, still a project in process, but almost there. Would not sell it for triple that. That is good idea, not just in Europe, but anywhere with old houses, made to last.
yeah, not all of us have disposable income, but to buy a property under $50K in Italy would be phenomenal and worth selling my place here in the States.
I want to say two things.
First, as an Italian, thank you for spending your money in my country and helping to bring back this town to its former glory.
Second, your neighbor’s lasagna might seriously make all the money you spent worthy. Hehehe! ;D
Ok but any tips for a lactose free lasagna
@@jakethespoopycat Probably mix up unsweetened almond butter with salt, onion and garlic powders, and lemon juice.
@@animequeen78 thanks
@@jakethespoopycat No prob. And for a mock anchovy paste for vegans, you can make a puree of seaweed, soy sauce, and olive oil. It's not an exact taste, but I found it a suitable facsimile.
@@animequeen78 I’m not vegan but still a good tip!👍
$76,000 is nothing for a house, Paris sells similar run down houses for over 400,000 euros
There is no job there. And if you are lucky enough to have a job there you get 700€/month. There is a reason why they are cheap.
Yes....that's Paris
But its a town in village where mafia roams around unlike france, do you think its worth to live near mafia for a outsider?
@@boredoflife8703 You watch too many movies with stereotypical depictions of Italians.
@@td2926 wtf are you talking about, inthis village people left this homes because they had problems with mafia, do your homework before you reply
Me: Saves up a thousand bucks
Also me: I am founding a nation
Become a comedian.
@Tano honestly I can’t tell if you are trying to be mean or are serious
@@pennydyer1448 It is a supportive joke :)
With all the micro nations already in Italy, another one can't hurt
Fatima Alaa Yep.
My bf’s family is from Limina in the Messina area. Hardly anyone is left there. The young people leave and the old population is dying out. People would at least go for the St. Filippo feast they have every summer but after Covid it hasn’t been that busy. That time of year really helped the businesses in the town.
Never forget how China ruined the world worldwide. Never buy Chinese goods, ever! Spend the extra dollar on local items.
$100,000 is a steal, it’s going to cost me a minimum of $500,000 to get a home in Ontario
GrumbleGamer 18 Canadian squad wya🇨🇦
Wakey wakey Eggs n bakey ayeeeee 🇨🇦
Look at the guy running your country.
Wait till ya taxes double.
Lololol
gfy everyone 😂 idk how much longer he’ll last honestly
@@GrumbleGamer18 don't worry.
We are in the same predicament here in New Zealand
Hello everyone. Italian guy here. There are also for 1€ in Tuscany, in the town called "Montieri". It's a lovely place with lot of green scenery. And people are lovely as well.
Do you have a plan to buy any of those houses there, maybe as a vacation home ? If not, why?
For real? I have dreamed of visiting Tuscany for months... How good it's if I can have a house there 😂 but I need to do deep research first
I mean, If you have money, you can restore everything and you'll have a great house. But they're giving the ground and the place for free. Which is amazing.
What a unique solution! It’s rare that circumstances would align in such a way that change like this would be adapted as well as it has.
moderator: it’s not that cheap you could spend $70,000
.
.
us market: *laughs in $300,000
Sydney, Australia: *laughs in $1,100,000 AUD (around $800,000 USD)
Tehya Rouse and that’s an average house!
Socal: *laughs in $1,000,000
$300 000 for a house is kinda cheap
$300k is a little cheap there for a house, try 1.5m here in Vancity for your comparable house
“Buys multiple homes in foreign countries” complains like they’re broke...
Which one of them complained? They all seemed to be pleased with it in the end
Did you watch the video?
@@nah8986 apparently 500 other people didn't watch the video cuz this main comment got that many likes lmao
@@bgcm1995 1.1k people clicked on this video and read the comments instead of watching
@Nah Why do people do this lol
Honestly if you had the money for it, it would be a good investment- specially if you turn it into a rentable vacation home for the people that like to travel to older cities in Italy. Bonus if they are close to landmarks. Not only would you have a place to stay in when you visit but you can also turn it into profit and make back the money you spent on renovations.
She didn’t mention that but not sure if that is allowed.
Italian Airbnb
@@lauraz2896 There is a residence requirement. Their aim is to repopulate the town not create a tourist hub.
mary shaffer I was trying to confirm if they allow that.
@@lauraz2896 she said some are coming to open an air BNB
What we're they expecting? That there would be no work required? These are amazing places 😍
I'm from Puerto Rico and i lived in Italy for 1 year. I can do tell you that in some places there things are economically hard, and jobs are hard to find, but the life and culture you will experience is very beautiful along with the sunsets and the smell of bakerys, orange/lemony and fresh coffe* scents in many restaurants and places when u walk in the street sides. The language is very beautiful, many of the vegetables sell in the markets are non GMO many italians eat what they garden, if they can garden. as for Sicily mountains is like walking back to a roman or a bit alike Norse era video game absolutely beautiful, green, fresh air, beautiful sunsets, nature is intact and houses old fashioned.
The food is glorious and fresh, everything made from scratch, you will rarely see a fast food or junk food around and the wine💋💜🙌💜🙌
Puerto Rico's culture, people and landscape is also a beautiful spectacle, I've never been but I'm saving to go, most of all, im going for the salsa music. You live in a paradise of your own.
i'm italian and my uncle is from Puerto Rico, i like the music and happy people who live there.
I’m from Puerto Rico also!Gosh I wish that I could travel to Italy and enjoy those scenic experiences
@@woiowoiow190 It's a TON of very poor people, too..
The Belgium couple even said that you can't expect a furnished home that's perfect for a $1.
Belgian**
No shit
Remember it’s Italy, inside ancient, historical, characteristic small villages. Historical houses, with possibility of tourist business beside vacation home for you, your family and friends. The value is way more than what you pay even after renovating.
Italy is beautiful until you start working there lol
You can rent out the houses to a rotating batch of digital nomads....
if it was that way, the houses would cost more. it's just a genious plan of the government to collect taxes and draw foreign money into those abandoned regions.
they pull in drunk tourist acting like idiots to the mix
@@tesmat1243 Exactly. Never think to work in Italy. You pay more taxes than earning. And bureocracy it is like a path of madness. Italy is the best place in the world for retirement, for people who saved a good amount of money and don't need to work.
Not gonna lie, $76,000 is still SUPER cheap for a house. Houses run upwards of $200,000 here in the US.
As an electrician this seems like a good project to invest in, I already speak Spanish and English, no problem adding Italian to the roster. City life ain't natural
I think this is like a dream... Is this really "Real". The ground is included also? Because when it is, it is only for that a bargain??
@Tiki Badfish can I join you😁
@@babycakes8434 what area of work are you proficient in?
@@thyeconomy me I wanna join I do school work lots and lots 😁
Someone should become a handyman or $1 house designer
Put in high speed internet, you'll sell every home.
And boost the local economy in the process. Everyone works om pc's from home these days.
John Donald not in Italy...
They already sold them all though LOL
this is the most boomer shit I've ever read lmaoo
@ what? Remote Jobs?
"Oh my god guys these people are paying like 30k for a house!"
Hun you've obviously never looked at the modern housing market, I'd be lucky to find a house 20 times that amount round where I live in Canada
The value isn't that good compared to the rest of Italy. So if we average 75k once all is said and done getting the houses liveable, you can buy an actual house in an Italian city for the same
@@ifb6368 Where, tell me where i buy an house in Italy for 75k.
I'm waiting.
Agreed! My house doubled in value in one year. I feel bad for those still trying to buy a home.
Exactly. A shitty $1million home here is considered a steal... now imagine so ending $70k on a historical home with the architectural and natural beauty around.
Absolutely! Average home price whee I live is 1.2 million, for a 4bed 1 bath family home. If I had $100k (at least that much to pay home/renos and convert to euros) and the time and a job in Italy, I would go. Such a good deal, even with the reno prices.
Still sad to know that some of these houses are going to be used as vacation houses. Locals hate that
It’s good to see the government is giving homes almost for free to repopulate it
Over $70.000 all in yep amazing deal,,not..cheaper to do as other couple did and buy one for £20.000 and do the little bit of renovation..way better..
It is the Mayors not the government... 🤔
"Over 20 towns in Italy have started selling abandoned homes for a single Euro, or about a dollar and 10 cents. For the sake of this video we'll call them "dollar homes" "
That's probably one of the most american thing I've ever heard.
Why not call them euro homes since that's what they're actually worth?
Ikr!
Americans
because they have to dumb it down to the level of the kind of people who think europe is a country lol
@BLUE Lives_Matter! I wanted to argue then I saw your username. I'm not even gonna try.
@BLUE Lives_Matter! so what? you guys don't have the concept of the euro in the US? damn you people are stupider than i thought.
Towns in Italy:
6,000 people
1$ a house
Small towns in America:
2,000
200,000 a house
But your US homes is up to standards of living and likely less than 50 yo. Plus you get a yard with it (as again up to US standards) and a garage and you DON'T have to do much in it before moving in. The 1€ houses are basically dumps with vermins and holes in the roof, no AC, no modern plumbing, no garage, no nothing. Add to that the fact that most of the small cities lots because of the economic slowdown most of they supply chain for renovation and construction and it is really worth close to 1€.
@@thibautnarme6402 you get land for 1 dollar and you cry ?
@@riccardos2955 No, I don't cry, I analyze (that's part of my job as an economist) and I try to provide a more complete picture of the trade-off between the 2 options. 'Cause when something is almost free on a market it means very few people want it and there must be a reason for that...
@@thibautnarme6402 I repeat.. you get land for basically free. Nothing to complain about. I would buy that and then invest 80-100k (50k in some regions in the south are enough) to build something new on that land wich would save me about 50-100k depending on where the house is located and how much you get in m2.
There are A FEW houses in small historical towns in ALL Italy. 10-15 houses. NOT An entire city....
I'm in my mid 50's and am contemplating moving to Sicily after gaining dual citizenship. I figure that things here in the US aren't the same as when my great grandfather immigrated here in the late 1800's, so it's time to get back to my roots. I know enough Italian to get a date, and luckily inherited my Italian grandmother's cooking genes, so I think I would fit in and not come off as a total American tourist..... I hope!
*Dollar houses trying to increase population*
Couple: buys four of them
Exactly. A situation like this would be the perfect opportunity to give poor and/or homeless people a chance own a home and start their lives over. But instead rich people are just gonna buy all the houses they can as a cute little renovation project, then sell them to other rich people for hundreds of thousands of dollars as a vacation home.
It's no wonder why the middle class is shrinking. There should be a limit to how much some people can buy.
@@user89076 sadly, the poor and the homeless don’t have the funds to renovate these houses and thus revitalize these towns. Which was the intent for the project. Thou, I do agree about the cap since it seemed like a lot of people were interested. Hopefully they had more prerequisites than just who had the most money when choosing who to sell (aside from the auctions)..
Great observation. This could have been another success like the community build by architect Alejandro Aravena.
😹😹😹
🤣
In Italy there's a lot of houses without people. In the Philippines theres a lot of people without houses. Life.
Because a lot of people flood the cities in hopes that they land a high paying job but in reality, luck is tough. Life in the province is easier.
Unfortunately, in Italy you can also find people without houses. It’s just that nobody knows because nobody talks about them. And they can’t even intrude into abandoned houses because the law doesn’t allow that. Life’s the same everywhere, my friend. =(
Well the Philipino lacking a house should all fly to Italy and repopulate the empty villages and towns! Italians love Philipino people!! Tell them
Cringe.
Fuuny life
I don't know how this is a turn off. There are literal condemned homes in North America with junkies shitting on the floor that is worth hundreds of thousands.
People are scared of work, that is the true nature of the story. If I had no commitments, and a spare 50k to renovate, I would do this.
It is a turn off for me cuz i dont see a point of living in a dying town with no jobs and if they make new houses there and make jobs there also so people dont have to go then yes but this is not going to happend they are trying to cash in buyers who dont know better...Speaking with experience
@@moneymanluce I know people who are returning to "depopulated countries" because today with the internet and the possibility of extending your work internationally, they are much more liveable places. Very low cost of living, Clean air, Peace of mind.
yes .. you must have the right job that allows you to do this of course.
@@moneymanluce no jobs? This isnt the 1800s. Commute, work online, start a business in the town...
North American towns with these situations aren’t as romantic or sexy as the idea of Italy. Who wants to do the work in Nebraska or Detroit or anywhere less picturesque when the same kind of program exists in a place tourists might actually consider going? The exact same offers exist in those places, but with far fewer takers, for those reasons. There’s just no sizzle like what Italy can offer.
@@AdamPippert In Sicily you’re given an offer that you can’t refuse.
I wish the best for this initiative, Italy is a great country.
yeah that is all one can say really. a way to get people off the hook paying taxes on property they cannot get rid of
Man, if I had the money I’d do this for sure. Wouldn’t mind renovating and the costs aren’t too bad compared to what homes go for in California
My friend bought and already renovated one of these in Vasto .. Can't wait to get there, one day !
you don't have €1? rip
(jk)
I read online ..those house are abandoned because the criminals
Honestly!!
You have never lied. What one home cost in California you could get a dozen $1 properties.
4:53 “she’s from Scotland”
*you don’t say*
I could understand everybody in the video but not that woman.
😆😁😀
Some of us can't really tell 🤷
Honestly I would invest in this kind of houses. Its a blank canvas! You can make it your own!
are you gay?
@@kenansari are you 4?
@@kenansari hes definitely 4 i saw one of his comment was "farting in japan"
@@nasif8777 true
@@kenansari hey sexy
I know of a couple of people that bought farm homes because it was such romantic thoughts and they were going to remodel They get halfway through the projects and they find out it’s really cheaper just to bulldoze the house and build a brand new one
I don't know why people in the comments are asking "what were people expecting?". No one in the video was expecting anything more. In fact, they're all really satisfied with their homes.
they don't say it for the people in the video but for the title
I think they were talking about the reporters trying to turn all of this in some kind of scandal
They most likely didn’t watch more then a minute the video starts with homeowners arching suprised they probably based their comments of that short clip
ikr I didn’t see anyone in the video complaining about the house not worth the money or anything. They all know it need some renovation.
I think that they are referring to the way the reporters are talking about it..
Wow. $3000 for a house. Imagine that. So expensive. Wow.
@@cardinalfrancisarinze9747 stop with drugs, get some milk
@@cardinalfrancisarinze9747 So basically the only way to get saved is to donate to this one specific orphanage? Sounds like a scam
Bruh $100,000 home is still cheaper than the wack ass houses here in US
It's around the price of an average house. But this is better because - if the area these houses are in keeps getting built upon, the values of these homes will skyrocket.
Lmaoooooo. Fr rent in nyc is 2,000+ a month for a tiny studio apartment
in the south it’s not
@tea drinker only if you live in the middle of no where
Depends where you live in the US. California is outta pocket but in Texas you can get a lot for just 100k
Older homes may potentially have weak foundations. Definitely worth a look
Imagine buying all the house there and then fix them up and rent the whole village out lol
Mark Zuckerberg: yes
If there's stores and businesses there.
I am actually planning that on a small scale. Currently, I am working on about 20 houses in that area :-D
@@Time2RockUrLive in real life???
@@papihuey
yes!
I already work with real estate projects in germany and when I saw this, I immediatley went to my lawyer and set up the first interviews ^_^
If you go into knowing you’re gonna put money and a lot of hard work into it, you found a diamond in the rough.
Right ? Lets run away to Italy and fix our house bae
@@davidarredondo7095 thanks for the lambo big dawg
Absolutely PeteyPistolDee03
I just look at it as the solution for the homeless. Sleeping under a roof and covered by walls and locked door is already so much of security especially for women, as well as comfort, compared to sleeping out there under the bridge etc. No renovations needed.
Me drinking Sambuca watching how to buy a home for $1 in Sambuca
also me " This must be a sign".
thats what i thought "couldve been nice to have some to drink while watching" lol
Signbuca
Look at the damage from mafia gang wars. The people didn't leave, they died.
@@freshstart4423 😰
Yes you gotta update us if you do move there!!
“i love how you can see the stucco peeling off and the old stone popping out” yea in italy we call this a shithole