Bivona real estate in Italy can be bought for 1 euro
Small settlements in Italy are experiencing an outflow of citizens. Young people are increasingly moving to large cities, resulting in desolation of remote villages. To save the settlements, the authorities decided to sell housing here for a minimum price. This is already practiced in several towns, and recently it became known that real estate in Bivona can be purchased for literally 1 euro.
This decision was taken in view of the critical outflow of local residents from the commune, which is located in Sicily. According to statistics, the number of citizens in Bivona has decreased twice for 40 years. Now there are 3,800 people living in the town.
The locals decided to save Bivona from extinction and restore its former charm. During the Renaissance period, it was a fairly large settlement with about 8 thousand people.
The authorities offer everyone to buy a house in the town for a symbolic fee of 1 euro. However, there are nuances. When buying a property, its owner must restore the building for his own money. If the owner plans to live here permanently, the state will provide tax benefits.
Bivona has advantages over other communes of Sicily. For example, in Mussomeli and Cammarata should be made an additional deposit of 5 thousand euros for the property, which is returned if the new owner begins restoration of the object no later than 3 years from the date of the transaction. In Bivona such a deposit is 2.5 thousand euros, which is twice less. According to the condition from the local authorities, the investor should start the restoration of the house in a year after the purchase, and complete it in three years.
There are many residential facilities in the town that require a lot of effort and money to restore, but there are others that require renovation and small costs. Housing, which does not need finishing, can be bought for 1000-5000 euros. Real estate is also offered at a symbolic value. Now the authorities are working on the option of taking under city control of objects that do not have owners or those who left and do not claim housing.
Most houses for sale for 1 euro have an area of 50-120 square meters and two floors. The new owner of the property can use it not only for living. The object is allowed to redesign and make it a hotel, cafe or store.
The authorities of Bivona are also working to attract investors and business representatives. The tourist segment is considered important, and for this purpose the buildings for the hotel opening have been restored.