When I read about Maenza this week, I thought it was a good time to dig that article out of the archives and share it with you today. On clear days the view from Maenza stretches to the Circeo promontory -- where, legend has it that Odysseus was bewitched by sorceress Circe -- and to the Pontine islands. For instance, not far from Cinquefrondiwhere we have the latest 1 home offerI found a restored, three-story home on the market for just 35,000. Were taking it one step at a time, Sperduti told CNN. Part of the town was bombed during World War II. Maenza, a town of about 3,000 residents in the Lepini hills south of the Italian capital, is selling dozens of abandoned abodes for prices starting at 1. Owners won't have to take up residency in Maenza, making it an especially strong contender for anyone looking for a vacation home with easy access to Italy's best-connected international airport. Energy class G. Euro 160,000.00. Families and youths often leave town to move to larger homes in nearby cities and villas in the countryside, but theres always some newcomer who takes their place so its balanced out, said Sperduti. A new project for the sale of houses for 1 euro is coming to Lazio. 2022 NYP Holdings, Inc. All Rights Reserved. The town overlooks a fertile former marshland dotted with lush gardens, kiwi plantations, lakes and grazing buffalo. Follow us on Instagram, Twitter, Pinterest, YouTube, TikTok, and Snapchat. In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Want more Thrillist? Stroll the ancient streets and youll meet friendly locals selling hand-woven baskets, olive oil, and local wine. They're made of large rough dark gray stones with thick window frames and an arched entrance portal. Sperduti told CNN he estimates some homes in Maenza could be back to livable condition with about 5,000 in renovations. Sign up for notifications from Insider! So prices for bringing a dilapidated home back to life should start at about 5,000. Save search. In Maenza, Italy, 100 homes are selling for about $1 to buyers who can commit to renovating them. There's a perfect beach for every week of the year. Maenza was built by shepherds and later occupied by Germanic Volsci tribes, CNN reported. Theres something irresistible about a free giveaway. Buyers also are required to make a 5,000 (about $5,840) deposit, which the local government promises to return once renovations are complete. Maenza is a quaint medieval town full of narrow alleys, cobblestone pathways, and history, according to the same article. Buyers in search of bargain homes in Italy finally have an option that's within easy driving distance of Rome. For anyone looking for a bargain hideaway in Italy, however, this may just be a priceless opportunity. The historic location, high up on the wild Lepini hills south of the capital, where shepherds and fiery tribes once lived, is making available dozens of abandoned stone dwellings in the hope of attracting new occupants. There are also tax deductions available, including for environmentally friendly restyles and earthquake-proofing updates. First and last names will appear with each comment and the use of pseudonyms is prohibited. "An owner who was desperate to get rid of his old property, even if it meant giving it away for free, eventually sold it for 3,000 to a person who showed up in town," says the mayor. This is why the administration has decided to launch this initiative, which has already conquered many small towns in Italy. Maenza is known for its idyllic atmosphere, stone structures, olive trees, and sweeping sea vistas. fans threaten boycott: Fire Mayim Bialik or we stop watching, Best star snaps of the week: Celebs have fun in the sun and more, Mandy Moore will have unmedicated birth due to rare blood disorder, Dan Abrams defends NewsNation network from Superman Dean Cain, Giant 3D dog leaps across Tokyo billboards, Bradley Cooper hosts small gathering at his NYC home on Huma Abedin's birthday. ", has already conquered many small towns in Italy, Luxury villas and apartments in Italy for sale, Luxury rentals in Italy: villas and apartments, idealista/tools: magement software for professional estate agents, idealista/data: technology for real estate analysis, AvaiBook: software to manage your holiday rental. In the historic center of the characteristic village of Maenza, we offer for sale an interesting two-room apartment with a panoramic view and split over two levels. Applications are currently open but will close on August 28. According to CNN, available houses are, for the most part, abandoned stone homes that once belonged to the shepherds and tribespeople that lived in the area. Travel + Leisure is published by Meredith Corporation under license from Travel + Leisure Co. "This is not a dying city. The Middle Ages were Maenza's golden age followed by bloody power grabs, with continuous battles between feudal lords and the Holy See. How to Plan a Trip to Italy's Amalfi Coast Best Seaside Towns, Top Luxury Hotels, and Tastiest Restaurants Included, This Italian Town Near Top Ski Resorts Is Now Selling 1 Homes, Too, Those $1 Houses in Italy Are Now Even Easier to Buy, These Southwestern Mountain Towns Show a Quieter Side of Colorado With Hot Springs, Hiking, and Boutique Hotels, Italy's Pontine Coast Is Steeped in Ancient Myths and Small-town Charm. Youre just a 90-minute drive from a major capital city. Potential buyers must file how they'd like to renovate the homes and provide a $5,840 (about 5,000 euros) deposit upon purchasing, according to the same article. There are about 100 neglected properties up for sale. Id estimate higher. A detailed restyle plan on what the property will become -- be it a home, B&B, shop or restaurant -- must also be filed. Many folks would happily stand in line for hours to get a free coffee. The village is small and traditionalfamed for its medieval window and door archesand its spectacular view of the Tyrrhenian coast from the main piazza. Some of them are also unsafe, so I have signed ordinances to try to get them fixed. 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. The property is completely fenced with a fence consisting of a concrete wall and galvanized iron with an electric access gate. The town has about 100 homes for sale for 1 euro, or a little more than $1, that are in need of repairs, according to CNN. Instead, he claims that it's an attempt to stop realtors from buying the old properties and making money off them. A deposit of 5,000 (approximately $7,450) must also be handed over, although it will be returned when renovation works are completed. And then there are those who would like to get rid of these buildings, perhaps because they have gone to live elsewhere". "Maenza," explains the mayor, "is a town where the quality of life is good, even compared to this pandemic that has made us rediscover the goodness of small towns. Maenza isn't the first Italian town to sell off homes at bargain prices, but unlike other the others, Maenza's mission isn't to build up its population. The deposit will be returned once renovations are complete, CNN reported. If more than one person applies for a property, priority will be given to the applicant who wishes to settle down and/or plans to complete renovations the fastest. Inside, old tiles still decorate walls, dusty chairs lean against cracked walls and wooden doors hang off hinges. 01VE4118) Detached house in Via Monte Acuto in Maenza, consisting of lounge, kitchen, study, bathroom and veranda on the ground floor, 3 bedrooms, bathroom and terrace on the first floor. The town hopes it can breathe new life into about 100 neglected properties, some of which have become a potential danger to passersby because of their dilapidated condition. ", As with the other "houses for 1 euro"initiatives, Maenza's "Patto per il centro storico" project envisages a symbolic cost of 1 euro for the purchase of the property, after which it must be renovated within three years. 2022 Group Nine Media Inc. All Rights Reserved. When tourism returns to Italy, I calculate that you could conservatively rent for 250 nights, just under 70% occupancy. On my last visit to Florence I found a completely renovated, Airbnb-ready apartment for 185,000 ($203,584) close to Fortezza de Bassothe largest historical monument in the city. Indeed, when I first heard news that the town of Gangi in Sicily was giving away homes less than the price of an espresso, I hopped on a plane right away to check it out in person. That occupancy is extremely high in a normal market but in a place like Florence its only okay. If several applicants want the same house, priority will be given to those who want to settle down and to those planning the fastest renovations. Im expecting to see values for best-in-class real estate to drop by as much as 30%, creating an opportunity to lock in profit-making real estate at a bargain price. This story has been shared 164,597 times. Garden of about 5,000.00 square meters planted with olive trees. Theres no obligation to live in Maenza once work on your property is completebut it is encouraged. On a clear day, you can see all the way to Stromboli, an active volcano 75 miles south. 5.000sqm garden c. planted with olive trees. Last week, the town of Maenza became the first in Romes Latium region to start selling homes for just over $1. "We're taking it one step at a time. Not just in Italys less affluent south, but in the north too. Sperduti told CNN that the estimated $5,840 deposit accounts for the homes' size, as they are all between 550 and 750 square feet. And youre just five miles from the beachside town of Scalea. Representatives for the city of Maenza didn't immediately respond to Insider's request for comment. Sign up for our newsletter and get a curated list of the top This is not a dying city, people still inhabit the old district but it needs a revamp, fresh oxygen, he added. The surrounding chestnut, beech, holm oak forests and nut orchards are roamed by wild horses. The town hopes to find new owners for around 100 properties. Some of Latium's most stunning seaside locations are a stone's throw away, including Terracina, Sabaudia, Sperlonga and Gaeta. Local delicacies include cherry jams, syrups, liqueurs and honey. There's also a matchmaking service on offer. Their old town centers are crumbling, and they must do what they can to revitalize them. The town's ancient castle is said to be the scene of a miracle. Find her on Facebook and Instagram. Lot of land fenced and monitored.
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