Sambuca is making headlines with the sale of houseless items starting at 3 euros. This successful sale not only boosts the economy, but also brings new residents to the city.
The Sicilian town of Sambuca is luring people with an unusual offer: houses with a starting price of 3 euros. CNN reports on this. After two successful 1-euro house sales in 2019 and 2021, the town is now preparing for the third round.
According to Mayor Giuseppe Cacioppo, interest is particularly high among foreign buyers. He believes the timing is ideal for the sale and invites interested parties to view the dozen or so houses available on site.
According to CNN, in two previous rounds of sales, the city has already seen an economic increase of 20 million euros, including through new pensions, shops and contracts with construction companies and architects.
The Sambuca Municipality owns the properties for sale, which greatly speeds up the sales process. Cacioppo explained that the Roman government transferred ownership of the abandoned houses to the municipality following an earthquake in 1969.
One person who was involved in the first house sale is Meredith T. The 45-year-old says she bid on the one-euro house “on a whim” after a friend sent her an article about the unique real estate program. After the renovation, the house is now worth 459,000 euros.
Sambuca is not the first village in Italy to offer one-euro houses. In 2008, the town of Salemi tried to revitalize itself by selling one-euro houses, but failed due to various hurdles, as “Business Punk” reports. There are now around 70 one-euro villages in Italy.