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Tue, 18 Feb 2025 17:17:56 -0800
whiteguyinchina from private IP,
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Italy’s cheap homes hot spot puts more up for sale
https://amp.cnn.com/cnn/travel/sambuca-sicily-cheap-homes-three-euros
Sambuca made global headlines back in 2019 when CNN announced that it was
putting 16 dwellings up for sale for one euro. Two years later, the town offered
up a second batch of homes for two euros.
The fire-sale, which lured international buyers as far as the Middle East, has
helped to revamp the local economy with an influx of 20 million euros (around
$21.8 million,) says Cacioppo.
This includes turnover from new B&Bs, new shops that have opened in the town and
contracts with builders, architects, surveyors, interior designers and
notaries.
“The two batches of houses, owned by the town hall, revitalized the private
real estate sector. People rushing to grab one at auction but didn’t make the
final cut bought a cheap house instead. So far, 250 homes have been sold,”
says Cacioppo.
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