Italy’s Latest Town Launches One-Euro Home Initiative to Revitalize Communities

Penne, a town in Italy’s Abruzzo region, continues its initiative to sell homes for just one euro, aimed at combating depopulation. The mayor announced that a new batch of properties will be available soon, with no deposit required, only a commitment to renovate the homes. This program, started in 2022, has seen six homes sold to date, primarily to Italian buyers.

The initiative in Penne is part of a broader trend in Italy, where several towns are offering homes at very low prices to attract new residents and halt population decline. The mayor, Gilberto Petrucci, emphasized that the program is designed to encourage buyers to invest in the town’s historical center, which has seen a significant decrease in population over the decades.

Key details of the program include:

• Properties are sold for one euro, with no upfront deposit required.
• Buyers must commit to renovating the homes within three years.
• A team of architects is available to assist buyers with renovation plans.

The homes available for sale are often old, with some dating back to medieval times. The mayor noted that many of these properties were abandoned as families emigrated in search of better opportunities. The historical center of Penne features a rich architectural heritage, making it an attractive location for potential buyers.

As the program gains attention, Penne aims to revitalize its community and preserve its cultural heritage. The upcoming sale of homes reflects the town’s commitment to rejuvenating its population and ensuring the survival of its historical districts.

Penne’s one-euro home program exemplifies innovative approaches to address population decline while preserving historical architecture. With no deposit required and professional support for renovations, it offers a unique opportunity for buyers looking to invest in Italy.