Village near Rome is selling houses for just Rs. 87

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Village near Rome is selling houses for just Rs. 87
Village near Rome is selling houses for just Rs. 87

24 Aug 2021: Village near Rome is selling houses for just Rs. 87

Italy has been selling off houses in its beautiful countryside for just €1 (around Rs. 87) since last year, with the aim of repopulating the villages. However, till now, the options were all far from the capital city of Rome. The town of Maenza has now become the first in Rome's Latium region to begin selling houses for the mind-boggling price, CNN reports.

Details: Dozens of houses to go on sale in the town

Dozens of houses in the picturesque village will be up for sale at the price of an espresso coffee. Applications for the first few houses are currently on sale and will close on August 28. But don't fret, more houses will be put on sale as talks are underway with their owners, Claudio Sperduti, the town's Mayor, said.

Quote: 'A pact for the rebirth of Maenza'

Mayor Sperduti called it a "pact for the rebirth" of his hometown. "We're taking it one step at a time. As original families get in touch and hand over to us their old houses, we place these on the market through specific public notices on our website to make it all very transparent," he told CNN about it.

Fact: Some 100 properties will be restored, admin says

Maenza is located about 70 kilometers southeast of Rome. The town's administration hopes to bring new life to some 100 neglected properties to "combat the abandonment of the ancient medieval village of the city centre," according to the scheme's website.

Conditions: Interested buyers must renovate houses within 3 years

However, these houses aren't in the best condition. Those approved to buy a property will have to commit to restore it within three years and submit a deposit guarantee of €5,000 (Rs. 4.35 lakh), which will be returned after the renovation is complete. Further, detailed plans about what the property will be converted into (such as a home, shop, or restaurant) must be filed.

Other details: You won't have to live in the village all year-round

It will not be mandatory for the buyers to live in the homes they buy all year-round. But families with kids who wish to live in the town on a semi-permanent basis have been encouraged to apply. If several people apply for a property, priority will be given to those who want to settle down and plan the fastest renovations.

The news article, Village near Rome is selling houses for just Rs. 87 appeared first on NewsBytes.

Also see: Italy: COVID-19 cases surge, hospitals near breaking-point; partial lockdown extended
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