Italy-ALSHARQIYA March 12: An attractive Italian town offered its abandoned homes for just 1 euro (US 85 pence), without the usual need to pay a deposit like other house plans in the country.
Lorenzana is a mountain town near Naples, in southern Italy, that once housed medieval dukes and later a hiding place for nineteenth century revolutionaries. It is the third town in the country to make this offer in a matter of months.
The mountain town announced an offer of abandoned homes for only one euro, with the new owner to rebuild the house.
The town abandoned many bureaucratic procedures and initial payments of up to 5 thousand euros to facilitate the purchase.
Mayor Michel Ungaro said that they decided to do so in order to facilitate the sale process and help the newcomers to the town to fulfill their dreams without boring and strict annoyances.
"We are also pleased to reduce the costs of the purchase bond. People will not need to pay the notary of 2000 euros for such a legal procedure, and the city council will handle that for only 300 euros," she explained.
The story in Lorenzana is similar to many Italian towns that offered their homes for sale for one euro, as the contract requires the new owner to renew the property, especially since many of them lack water and electricity services.
The contract stipulates that the restoration process takes place within a maximum of 3 months, and they have 3 years to complete the restoration.
And the mayor advised anyone interested to send a letter, before purchasing with the restoration plan, in addition to explaining whether it will be a vacation home or otherwise.
The area of the houses ranges between 40-150 square meters, and each square meter in these homes needs 500 euros to be repaired.
This means, in a simple calculation, that if someone buys a 40-meter-long house in the town, the restoration process may cost 20 thousand euros.
Due to the Corona epidemic, those looking to buy should expect to wait approximately 3 months before the purchase is completed, but once the borders of Europe reopen, Ungaro indicated that transactions will take place as quickly as possible.