Discover the €1 House Scheme in Troina, Sicily
The €1 house scheme continues to thrive in Italy, with Troina being the latest medieval village to join. Here, the local government offers support for renovation costs, making it an appealing option for potential buyers.
Troina’s Unique Offer
It’s hard not to be attracted to the allure of a €1 home nestled in a quaint Italian village. However, it’s crucial to be aware that these homes typically come with substantial additional expenses. The starting price may be €1, but costs accumulate quickly for investors prepared to renovate the deteriorating structures. In Troina, Sicily, efforts are underway to streamline the process and reduce expenses. The local government is eager to welcome new residents by assisting with renovation costs once buyers settle in.
Revitalizing a Historic Community
Like many villages participating in the €1 scheme, Troina faces demographic challenges due to population migration toward urban centers. Mayor Sebastiano Fabio Venezia is spearheading initiatives to attract newcomers, aiming to restore Troina to its former glory.
An Enriching History
Once the Norman capital of Sicily, Troina was celebrated in 2019 as one of Italy’s most beautiful villages. It has made strides in inclusivity by launching an LGBTQ tourism campaign that fosters a welcoming atmosphere, ultimately enhancing the village’s appeal to diverse travelers. Moreover, for nature enthusiasts, Troina offers proximity to Nebrodi National Park, Sicily’s largest national park, characterized by its breathtaking landscapes, including forests, lakes, orange groves, and views of Mount Etna.
Global Interest in Troina’s Properties
Interest in the properties of Troina has surged, with a surge of inquiries from potential buyers worldwide. Venezia stated, “Recently, we have seen an influx of inquiries about properties in our historic center from various countries including the US, England, Germany, the Netherlands, Argentina, and Peru.”
Revitalization Project
In response, a project has been initiated to rehabilitate abandoned buildings, restore ancient neighborhoods, and simultaneously boost the local economy by employing local workers for renovation tasks.
Upcoming Property Auctions
As Troina gears up for an auction of abandoned properties, Mayor Venezia has established an online platform, HouseTroina, facilitating the purchasing process for buyers. Approximately 30 houses are set to be auctioned for €1 by the end of January, with an additional 100 expected shortly thereafter. Buyers are required to provide a €5,000 refundable deposit and commit to initiating renovation work within a two-year timeframe.
Support for New Homeowners
In an interview with CNN Travel, Venezia mentioned that the local council could provide financial assistance of up to €25,000, including €15,000 for renovation and €10,000 designated for enhancing energy efficiency. Additionally, new homeowners will be exempt from property and city service taxes for three years.
For those who prefer not to undertake significant renovation projects, Troina also offers fully renovated homes at discounts of up to €8,000, making it an attractive option for prospective residents looking for a move-in ready property.
