Ever since the concept of one-euro Italian homes emerged a few years ago, there’s been a recognized pattern to these highly popular sell-offs of crumbling properties in charming but depopulated areas.
Once a town announces it has some on offer — usually places hoping to revitalize their communities with new residents willing to spend money on preserving historic housing stock — there’s a brief frenzy as buyers swoop in to snap up a bargain.
Even though these typically vanish from the market just as quickly as they arrive, there are still dilapidated dwellings going for a song in parts of the island that few Italians have heard of.
But you need to know where to search — and it can be like looking for a needle in a pagliaio.
Luckily, two people are willing to do this for you: Antonino and Carmelo Cuschera.
These Sicilian brothers have dedicated themselves to hunting down old properties and placing them on the market for one euro (a little over a dollar) through their real estate agency Vero Affare — meaning “good deal” in Italian.
And unlike other one-euro sell-offs that often require buyers to commit to spending thousands of dollars on renovations, these sales require no guarantees or down payments. Likewise, unlike ones sold by town halls — which usually impose a three-year time limit on completing repairs — these properties come with no such restrictions.
Simply put, buyers can purchase a rundown old house and, if they really don’t feel like restyling it, can leave it alone as a crumbling relic, owning it just for the pleasure of watching it fall further into ruin.
“No town halls are involved here, it’s just between private (buyers and sellers) and we liaise,” Antonino, a 55-year-old former honey producer and melon grower, told CNN. “Old owners who want to get rid of their abandoned family properties contact us, and we place all listings online with photos, but don’t sell sight-unseen. Interested buyers must come in person.”
Beautiful locations
Based in the Sicilian town of Favara, Antonino and Carmelo — a 58-year-old tech expert — regularly tour Sicilian towns struggling due to depopulation, where they know families own old properties they’d like to dispose of.
“We regularly scout for one euro homes, meeting locals who think these properties are just a burden,” Antonino added. “We hand out flyers in villages to push people to get rid of abandoned buildings for one euro, and we take care of all the necessary paperwork.”
Keeping these derelict properties mean that the original owners can be liable for property and council taxes, which means the impetus to offload them — even at a knockdown price — can be high.
In the last three years the pair have sold over 50 one-euro homes, mostly to foreigners, including North Europeans and Ukrainians fleeing the war in their homeland.
Every week they upload new one-euro houses online, alongside other cheap, turnkey properties that sell for as low as 20,000 euros ($22,400).
Among the Sicilian communities where the Cuschera brothers find and sell homes are Sutera, a medieval village named one of Italy’s most beautiful towns, Campofranco, Acquaviva Platani, and old districts of larger cities such as Caltanissetta and Agrigento.
Most of the one-euro homes available are small, dating from the 1930s and spread over several floors. Some are larger, the old homes of farmers or shepherds, with a 200 square-meter footprint on lower-level floors that were once used to house livestock.
A few properties are in good shape, others require extensive fixes.
Among recent one-euro listings is a four-bedroom, 100-square-meter, two-story stone dwelling in the town of Sutera, with a garage and balconies overlooking the main piazza.
For the love of Sicily
In Caltanissetta, right in the center of Sicily, an entire 200-square-meter old palazzo is on sale for one euro in an ancient district dating back to the 9th-century Arab conquest of the island. Spread across three floors with several balconies, it is located near the town’s picturesque basilica.
The Cuscheras are hoping that most buyers will be renovating these crumbling treasures — with minimal restyles priced from 20,000 euros — and they say they can assist buyers in finding surveyors, architects, building teams and notaries.
And, although they seek payment to cover some specific admin costs, they say they’re not in it for profit.
“We ask no agency fee, we really do it for the love of our beautiful land,” said Antonio. “It hurts to see how so many once-thriving places in Sicily are facing a decline due to emigration and neglect. We want to help breathe new life into them, and believe foreign investors can play a key role.”
It’s not an easy task they’ve set for themselves. Before placing any listing on the market, they need to make sure that the property’s owners have all the necessary permits to sell, mostly proof of ownership — and, crucially under Italian law, that all heirs are on board for the sale.
Many old buildings may in fact be divided into various shares owned by different relatives. In the past, it was customary for families to split properties among children and heirs.
“Often we might need to track down multiple owners across the world, if they migrated abroad, or have them sign deeds of succession in favor of their heirs who want to sell,” says Antonino.
‘A corner of paradise’
Carmelo takes care of recovering lost family trees by trawling through public archives in local municipal offices and parishes, to identify and locate distant relatives — who may well be living as far away as the United States today.
There are extra fees (roughly 300 euros) for buyers when a deed of succession must be signed, for instance, if one owner has died and the property share must be passed on to the heirs.
So if placing a one-euro home on the market requires having three old owners or their relatives sign succession deeds, the total for the buyer would be 900 euros.
For a further 350 euros, the brothers also fix outdated property maps and register them at the local land registry office.
“This is what sets us apart from one-euro homes schemes organized by local authorities: it’s the owners who come to us, not the other way round, and we procure all the needed paperwork to sell their old house,” Antonio added. “Often owners refuse to give up their house for one euro because they lack the documents and the town halls don’t have the money and time to help with the missing papers.”
The Cuscheras say they prefer to deal with properties where there are just one or two already identified owners to keep things simple.
Despite the tiny cost of these properties, the brothers insist the value of a one-euro home is much more than just one euro. Most offer huge returns in terms of location — situated in medieval villages or districts packed with history and scenic views, in quiet and offbeat locations far from the crowds.
So much so, they say, that even buyers with cash to splash are eschewing ready-to-occupy properties in favor of relics that benefit from idyllic situations.
Antonio said he recalls one client who arrived to buy a cheap ready-to-occupy house but then bought a crumbling one-euro property with a great panorama because “she could enjoy a corner of paradise from the terrace.”
“When clients come asking for a turnkey home without the need of a restyle, they often end up grabbing a dilapidated one-euro home that requires a lot of work,” he added. “It’s simply more appealing and beautiful.”
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