It’s spring 2023 and we’re starting to hear that some cities are becoming more active in the 1 euro home program. The new city offering homes for 1 euro is Taranto, on the shores of the Ionian Sea. Yes, you read that right, it’s the 5th city offering homes for 1 euro near the sea. If you’re interested in other regions selling homes for 1 euro by the sea, read this article. We’ll provide you with a map for Taranto so you can see where in Italy this city is located.
Taranto 1 euro homes. Map
Participation rules for 1 Euro Casa
It’s worth noting that this is the city’s first attempt to participate in the sale of abandoned properties, and this attempt looks quite modest. While we generally don’t criticize city authorities for their initiatives, for a city as large as Taranto, 3 lots is very little. Moreover, the houses themselves are in serious need of repair and intervention. In our extensive list of cities offering houses for 1 euro, you can learn that there are small towns that offer far more properties for sale at a symbolic price.
Regarding Taranto, the conditions are as follows: a deposit of 3000 euros is required for a term of 4 years.
The auction winners must:
- sign the deed of transfer of the property within 6 months from the day you are awarded the home in the auction.
- prepare the final reconstruction and restoration project for the building;
- obtain all necessary approvals and obtain the expected building permit within one year from the date of confirmation of your ownership of the house.
- complete the work within 3 years from the date of issuance of the building permit. Cover the costs of surveying, waste disposal, and everything needed for repairs. The official project website is here.
As we can see, the conditions are quite attractive (many cities are already asking for 5 or 6,000 euro deposits), and Taranto is asking for 3000. But this is overshadowed by the drawbacks of this offer. The city offers only 3 lots (see photo below), which we believe will not be suitable for every buyer. But if you are interested in these properties, you must submit an application by August 31, 2023.
In any case, we hope that the 1 euro home program in Taranto will be successful, and in the second round we will see more homes by the sea that will be available for sale at a symbolic price.