Affordable housing gets “too” affordable in the Italian town

Maenza: Houses are getting offered for One Euro in Italy’s rustic town Maenza. Maenza is in Lepini hills which once were occupied by tribes and shepherds. Now those abandoned dwellings are being revamped and offered for sale at prices as low as one Euro.

Maenza is the hometown of Mayor Claudio Sperduti, who aims to spark new life in the peaceful and quiet valleys of Maenza. He intends to recover antiquated properties by collaborating between old owners and luring new buyers by boiling down the prices to as low as one Euro.

“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,” Sperduti told CNN.

For now, only a few houses are on sale. The applications will close on August 28. Mayor has assured that more and more properties will go on sale in coming times. Now you must be thinking there must be a catch here? Yes, there is. Those who get a hand on these properties must develop them within the coming three years and deposit an amount of 5000 euros which is returnable to them once they complete the construction of the property.

Mayor Claudio has an ambition of sparking life in around 100 properties as they have become dangerous for surroundings due to their weak structures.

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