CNN reports that abandoned houses in the Italian town of Penne are being sold for €1 to stop depopulation.
Penne is located in the central Abruzzo region of Italy, midway between the Adriatic coast and the Gran Sasso mountain range. About a thousand people live there now.
“There are potentially more than 40 empty buildings in the city looking for new owners. All of them are located in the historic center, which has been in decline since families started emigrating decades ago,” says Penne Mayor Gilberto Petrucci.
Since 2022, six abandoned houses have been sold for the price of an espresso in Pennes. Most of them once belonged to families of local farmers who fled for a brighter future elsewhere — especially after World War II, when bombing destroyed much of the city’s architectural heritage.
In the 1970s, there was another wave of emigration when families left for the United States, Belgium, and Venezuela and for neighboring large cities to work in factories. So now the town is turning into a ghost town, which the local authorities are trying to prevent.
The only requirement in Penne is that the house you buy is reconstructed in three years. For most houses, a deposit of €2,000-5,000 is required, which is refunded upon completion of the work. Local specialists, such as architects, surveyors, and builders, will assist buyers.
If there are several buyers for one house for €1, the person with the best and fastest reconstruction plan will be given preference.