Homes selling for £1 in idyllic and beautiful European tourist hotspot – how to get

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In good news for keen skiers, the latest Italian town to sell off beautiful homes for the bargain price of €1 is right next to popular ski hotspots. Pratola Peligna is the first town in the region of Abruzzo to join the €1 scheme.

Just two hours outside of Italy’s capital city Rome, Pratola Peligna has an ideal location in the Apennine Mountains.

Winter sports are popular in the town as it has easy access to the winter sports resorts of Roccaraso and Pescasserol.

Pratola Peligna has over 600 empty buildings, of which 250 could be sold under the new €1 scheme.

Potential homebuyers will have a timeframe and must have renovated their €1 home by the end of the period.

The number of residents in Pratola Peligna has shrunk from 13,000 to just 7,000 after suffering depopulation as people moved to cities.

With the €1 scheme, the town is hoping to encourage new residents to move and revitalise the town.

It is also hoped that the scheme will mean many of the town’s beautiful homes receive a long-awaited renovation.

Local councillor, Paolo Di Bacco said: “Our goal is to make them all shine again and recover the beauty of the old centre, even if that may take a while.”

While the bargain scheme is likely to encourage many to snap up a home in Pratola Peligna, those that fail to renovate their €1 purchase could face a fine.

If new homeowners fail to file a renovation plan within six months, they could have to pay a €10,000 fine.

Di Bacco said: “This is really in a worst case scenario. We just want to make sure buyers actually follow through on their commitment and don’t simply purchase for €1 and then disappear.”

The stone homes included in the scheme are located in the town’s historical district. Some of the larger places even include terraces.

The town overlooks a picturesque valley and fresh streams. Local delicacies include ‘cecio ripieno’, a stuffed chickpea pastry.

While Pratola Peligna is the latest Italian town to join the €1 scheme, bargain house offers have become increasingly popular across Italy.

Idyllic remote towns in Italy have become increasingly deserted as younger people choose to settle in cities.

Many elderly people have had to leave their house to the local authorities as they have no one to bequeath it to.

In some cases, young people have received houses in areas they have no plans to move to.

Second homes acquire taxes in Italy so it is sometimes financially beneficial to sell off a home rather than keep it.

Some European towns have even started schemes that will pay people to move to the area.

The scheme website, states: “Improvement and redevelopment projects must prioritise the existing buildings.

“We do not need new constructions and new overbuilding. The strategy to improve the housing environment and reclaim our cultural identity is to revive the small abandoned centres.
“Or to redevelop buildings in a state of abandonment, with a story that is our history.”

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