Cinquefrondi in the southern region of Calabria, Italy is the latest village in Italy to offer €1 houses.
Badged as a ‘Covid-free village’ due to no cases of Covid 19 virus this is a truly remarkable property acquisition opportunity.
Our source has indicated that the scheme requirements are quite relaxed compared to similar schemes. There is a requirement to pay an annual €250.00 insurance policy and then complete all property renovation/upgrades within a 3 year period. If you don’t complete all required work within the 3 year period you could be liable for a €20,000 fine!
Mayor of Cinquefrondi, Michele Conia estimates the renovations to homes will cost between €10,000 to €20,000.
There are currently circa 12 homes available under this programme, however there could be a further 50 added at a later date.