It has always been a dream of mine to buy a house in the picturesque canvas that is Italy. This seemed like a fantasy that would never come true, until I heard about an incredible initiative set up by an Italian mayor. In a town called Sambuca di Sicilia, on the island of Sicily, the Italian government is pushing to encourage young people to live there. You might ask “Why?”, and then probably, “Where can I sign up?”
Sambuca – not the drink, folks – is only 96 square-kilometers and yet it was nominated as one of the “Most Beautiful Towns in Italy”. Its close proximity to the Mediterranean Sea, access to the serene forest and bold mountains, and its vintage architecture makes it the ideal location for retirement or a tranquil vacation home. Resting atop a hill with postcard views, calling it a day with a glass of wine and delicious Italian food is as paradise as it gets.
Now back to the first question. “Why is this a project?” Since the population in Sambuca is made up primarily of seniors, the town’s economy has taken a serious dip in recent years. It’s not surprising to learn that Sambuca has a population of less than 6,000 people. In order to give the economy a boost, the mayor and his counterparts initiated this unique project.
Before we all start buying flights to the boot-shaped country, let’s look into the actual details of this initiative. While you might be able to purchase your plot of land for as little as a slice of Italy’s cheapest pizza, you’d have to invest in a lot more than just that. Anyone who is approved for buying in Sambuca must first give over a deposit of $5,000. In addition to that initial down-payment, a buyer would have to then spend $17,200 on repairing or renovating the home in which they’d like to take ownership of. It’s not exactly just $1, is it?
Cheap Homes In Sambuca
If you’re actually interesting in buying property in Sambuca, I’d say now is the time to make a move. The tourist councilor for this campaign remarked that he’s received an astounding number of emails and calls from interested investors. He said, “I didn’t sleep last night because I was getting so many phone calls. I received 39,000 emails in response to the offer, including people who want to buy whole blocks of houses.” Who knows, Italy might just be your next home.