Explore €1 Homes in Taranto, Puglia

With dozens of towns in Italy selling old, crumbling dwellings for less than the cost of an espresso, choosing the right location can be challenging. However, the city of Taranto offers a unique proposition: abandoned homes for just €1, situated by the seaside.

About Taranto’s Affordable Housing Initiative

Taranto has placed a new lot of 50 abandoned apartments on the market for only €1. These residences, located in the historic walled district known as Isola Madre (the ‘Mother Island’), require renovations but boast panoramic views of Taranto’s gulf, renowned for its premium mussels and pristine beaches.

A Unique Coastal Location

What sets Taranto apart is its unique coastal location; it is the only city in Italy offering €1 homes by the coast, unlike other towns participating in the scheme, which are often found in rural or mountainous regions.

Requirements for Purchase

Following the initial successful sale of old homes, the city hall received numerous applications and has since decided to continue this initiative with softer regulations. Prospective buyers are required to renovate the property within one year after purchasing but can request an extension. Moreover, residency is no longer a requirement, making the process more flexible.

• Submit a property restyle plan alongside a deposit of €1,000, refundable upon project completion.
• This deposit is the lowest across Italy, as other €1 home towns typically require down payments between €2,000 and €5,000.

A Chance for Families and Investors

These homes can serve as second residences or B&Bs, encouraging families to revitalize a district that has seen a decline from approximately 40,000 residents to only about 2,500 today.

Picturesque Surroundings

The new lot of buildings is set amidst charming, winding alleys overlooking historical piazzas and stone portals. This sale aligns with the return of international travelers to Italy. Local authorities are offering guided tours of the properties, hoping to attract potential buyers who want to stay longer and explore the area.

Find Out More

For more information on this unique opportunity, photos, and tours, visit the official website.