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Another Italian town selling homes for $1

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Ciao, Italia!

If you’re ready to run away from it all, look no further than the quaint town of Laurenzana, Italy, where officials are currently selling homes and buildings for just over a buck.

Laurenzana, in the southern region of Basilicata, is currently peddling about 50 historic properties for 1 euro ($1.19,) Departures reports. In a bid to lure buyers, Mayor Michele Ungaro has even rolled back renovation deposit fees (which have ranged from about $2,400 to $6,000 when other Italian towns have organized similar promotions) to $382.

Laurenzana, in the southern region of Basilicata, is currently peddling about 50 historic properties for 1 euro ($1.19.)

Laurenzana, in the southern region of Basilicata, is currently peddling about 50 historic properties for 1 euro ($1.19.)
(iStock)

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To make their case, hopeful homeowners must pitch a proposal to local officials, explaining which property they’d like to buy and their plans for renovation. According to Travel and Leisure, 10 of the units are old homes “in the historical heart of the town” while the other 40 are abandoned buildings. Many of these unoccupied units date back to the 19th century and feature charming details like, wrought iron balconies and brick archways – but will reportedly require a more thorough flip to be made modern once again.

To that end, Ungaro said that hopeful homeowners should be ready to shell out about $24,000 for such detailed renovations.

The Laurenzana castle in Laurenzana, Italy.

The Laurenzana castle in Laurenzana, Italy.
(Massimo Piacentino/REDA&CO/Universal Images Group via Getty Images)

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Before the deal can be sealed, interested buyers must visit Laurenzana to finalize the transaction – a last step likely not possible for international clients for at least the next few months, if not longer, due to various travel restrictions amid the global pandemic.

Frustrating as it may be, it could be worth the wait. The ancient town is home today to cobblestone streets, shops, bars and the medieval Laurenzana castle, Depatures reports, with close proximity to hiking trails and Maratea, a UNESCO World Heritage site.

These latest listings, however, are not to be confused with Salemi and Tronia in Sicily, which have also listed homes for $1 in recent months in a bid to bring in new residents.

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