An Italian Home for Less Than $50,000

You could own a home in this medieval Italian village for less than $50,000.

Monday, Dec. 17, 2007
Paris, France

Learn more about Italian real estate in International Living Postcards--your daily escape

I’ve just heard about a sustainable tourism project in Italy with restored properties selling for less than $50,000.

The houses are in a cluster of abandoned medieval villages, the Borghi Nascosti in the Abruzzo region, and prices start at 29,000 euros ($41,711) for a studio or one-bedroom apartment. The price tag includes new wiring, plumbing, furnishings, and restoration work. Some of the houses have antique floors or vaulted ceilings. The whole project is backed by the village councils.

These villages are off the beaten track, but are just over an hour's drive from Rome and even closer to the Italian coast and ski slopes.
The company driving the project, Tricali Ltd., furnishes the properties for immediate use. From what I understand, your only responsibility as a buyer during the pre-delivery period is to get the utilities connected and pay government taxes and closing costs--roughly 10% of the purchase price. Tricali can also put you in touch with a rental management company.
Properties on offer include a two-bedroom home for 33,750 euro ($48,536), and a one-bedroom house on two floors for 45,000 euro ($64,715) with kitchen, separate living room, and an outdoor patio. A similar project is running farther south in the Irpinia region, where house sales have put the village back on the map--the rentals and tourism are now doing the rest.
I haven’t been to see any of these village projects yet, but if you want more information, visit Tricali's website.

Maria Savage
European Consultant, International Living

Editor’s Note: There are plenty of properties in Italy under $100,000--some even as low as $28,000. If you don’t wish to buy yet, you can rent long term with prices from $480 per month. Learn more about affordable Italian real estate.

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