The Italian town of Naro, located in the province of Agrigento in Sicily, has opened applications for homes priced at just €1 (85p). Local authorities introduced the property initiative to help repopulate diminishing areas and save derelict buildings across the historic municipality.
The scheme gives both local residents and foreign buyers the opportunity to purchase a house for less than the cost of a cup of coffee. However, officials warn that the bargain price comes with major legal costs, mandatory administrative fees, and extensive renovation requirements.
According to European Real Estate, successful applicants must provide a refundable deposit of around €5,000 to secure a property. Buyers are also bound by a strict three-year deadline from the time of purchase to complete all necessary restoration work.
Properties sold under the scheme can be used as a primary residence, a second home, a holiday guest house, or space for a commercial business. Euronews reported that the houses typically require widespread structural renovation before they are suitable for human habitation.
In addition to the token purchase price, buyers must pay notary fees, cadastral taxes, and official property registration costs. All renovation work must strictly comply with local safety regulations and urban planning rules.
Historic medieval town of Naro
Naro is a small medieval town situated in the hill country of southwestern Sicily, with a population of around 6,700 people. Regional tourism agency Visit Sicily describes the municipality as a "baroque jewel" due to its historic churches, stone palaces, and rich cultural heritage.
Sicilian baroque architecture flourished across the island after a massive earthquake in 1693 prompted extensive urban rebuilding. Like many rural municipalities across southern Italy, Naro has experienced steady population decline in recent decades as younger residents moved to larger cities for employment.
The town sits within Agrigento province, a region internationally recognized for the Valley of the Temples, a vast archaeological site containing ancient Greek temples. Local municipal leaders hope the arrival of new property buyers will help preserve historic architecture, restore vacant streetscapes, and revitalize the local economy.
Real costs of Italian one euro property
Naro is one of several municipalities across Italy offering discount real estate. In Mussomeli, another Sicilian town with a similar scheme, Londoner George Laing purchased three €1 properties and later outlined the true financial costs of the process to the Daily Mail.
Mr Laing explained that while €1 secures the freehold title of the building, buyers face additional initial expenses totaling around £4,000. These include an agency fee of roughly £500 and local notary fees of about £2,800 to act as a legal representative and transfer property deeds from the seller.
Buyers must also pay around €200 for an energy performance certificate before taking ownership. Mr Laing added that many €1 properties do not have active water connections, meaning buyers must arrange and fund utility installations themselves.
Describing his first purchase in Mussomeli, Mr Laing revealed that the house "needed a complete, complete refurb" including electrical work, plumbing, roof repairs, a new bathroom, and a replacement kitchen. He removed five van loads of rubbish before structural work could begin.
"It's a shell which is going to be turned into a self-contained one-bedroom flat," Mr Laing explained, noting that he performs much of the physical renovation labor himself to keep overall expenses manageable.
Other Italian regions offering euro houses
"So in total, with all the €1 houses, you pay €1 for the freehold," Mr Laing said, stressing that prospective buyers must prepare for legal, administrative, and building costs well beyond the headline price tag.
According to real estate listing website 1eurohouses.com, €1 property schemes are currently active across multiple regions of Italy, including:
- Northern Italy: Albugnano, Carrega Ligure, and Triora
- Central Italy: Monte Urbano, Montieri, and Casoli
- Southern Italy: Taranto, Zungoli, and Maida
- Sardinia
- Sicily: Mussomeli, Salemi, Troina, and Naro
