€1 Houses in Italy: A Dream or a Financial Pitfall?
The world has been captivated by the idea of purchasing a house in Italy for just €1 – a property in one of the most beautiful countries in the world for less than the cost of an espresso!
This trend even inspired the Netflix film La Dolce Villa, filmed in San Quirico d’Orcia, a charming village near Florence. The romantic comedy follows an American businessman trying to prevent his daughter from spending all her money to restore a villa she bought for €1. In the end, the father falls in love with the mayor and moves to Italy, ensuring a happy ending.
This concept gained the most attention after the BBC series Amanda and Alan’s Italian Job (2023), where the hosts renovate two rundown apartments in Sicily. In the second season, they tackle a 17th-century house in Northern Tuscany, showcasing the challenges and rewards of restoring dilapidated Italian properties.
Renovated €1 Houses in Italy: Prices & Stories
The two apartments in Salemi, Sicily, after renovations, sold for €145,000—offering 1,400 sq feet of habitable space. In Tuscany, a €1 house near Lucca was sold for £187,770 (€220,000) just two months after being listed on RightMove. The house, spread across three floors, included two bedrooms and even a wine cellar.
The proceeds from both property sales went to charities supported by Alan and Amanda, including Children in Need and Comic Relief.
Airbnb, the global leader in vacation rentals, also joined the €1 house craze. They purchased a €1 property in Sambuca, Sicily, renovated it, and launched a competition in January 2022 for a family to live in the house rent-free for one year. In July 2022, the winning family from Bordeaux, France, moved to Sambuca. This publicity stunt generated significant media attention, with over 100,000 applications for the competition.
Are €1 Houses in Italy Worth It?
Many prospective buyers are left wondering if purchasing a €1 house in Italy is truly a good investment, especially when considering renovation costs. While these €1 houses often need extensive work—including structural repairs like underpinning, new roofs, windows, and doors—the real challenge comes with the time, effort, and bureaucracy involved in securing permits and working with local contractors, especially for those who are not fluent in Italian.
The communes involved in the €1 house schemes can also be difficult to engage with, adding to the frustration.
In the BBC series, Amanda and Alan’s Italian Job, the two renovated apartments in Sicily sold for €145,000 which was probably an inflated price due to the publicity the property received. However, considering the cost of renovations, legal fees, architects plans which could easily be around €220,000–€250,000, is this more than one would envisage paying?
In comparison, a 2-bedroom apartment in the Piedmont region of Northern Italy was recently listed for €29,000. This apartment, although in need of some updates and new furnishings, offers the benefit of being move-in ready, with the flexibility to renovate at your own pace.
Are €1 Houses in Italy the Best Investment?
While €1 houses in Italy sound like an incredible opportunity, they often don’t offer the best financial value when you factor in renovation costs and the time it takes to make the property liveable. Many buyers may find it more cost-effective and less stressful to purchase a fixer-upper that doesn’t require a complete overhaul.
If you’re still interested in Italian properties, there are some fantastic value homes currently available:
- 2 Bedroom Fixer-Upper in Sicily: €29,000
For more property options, check out our listings for affordable properties for sale in Italy and explore your ideal investment in the beautiful Italian countryside:
or looking in Sicily: Property for Sale in Sicily
Please note: Europe Properties do not assist with purchasing €1 houses in Italy.
