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Amazing Italian homes for less than €100,000

Fancy owning a stunning home in Italy for the same price as a shed in London or New York? With the weak euro, now is a good time to scour the country for a dream home. Here's our list of properties going for less than €100,000 (£72,000, US$112,000).

Published: 13 May 2015 14:40 CEST
Amazing Italian homes for less than €100,000
A property in Calabria which is selling for €81,000. Photo: A Place in the Sun

1. Penthouse in Pizzo, Vido Valentia, Calabria – €81,000

Just a 20 minute drive from Lamezia Terme airport, you could find yourself sipping an aperitivo on the large terrace of this one-bedroom penthouse, while soaking in the views of the Gulf of St Eufemia along Italy's Calabrian coast.

The apartment is a 15-minute walk to the centre of Pizzo, a seaside town famous for its chocolate truffle ice cream.

The town's historical centre sits on a headland above the sea. With its beautiful coastline, warm weather and pretty hilltop towns, Calabria is one of Italy's so-far hidden gems, still largely untouched by mass tourism.

2. One bedroom apartment in San Siro, Como – €89,000

Lake Como is a popular place but we don't all have to be of George Clooney's ilk to afford to live there. This one bedroom apartment is within walking distance of the lake and the town of San Siro.

Popular sites in the town, situated on Lake Como's north-west shore, include Villa Gaeta, where scenes in the James Bond film, Casino Royale, were filmed.

The bright apartment includes a living room, dining area and fully-fitted kitchen and bathroom.

San Siro is within a 1 hour and 30 minute drive from Milan's Malpensa airport, or about two hours by train.

3. Three bedroom house in Licciana Nardi, Lunigiana, Tuscany – €90,000

Lunigiana is located in northern Tuscany, in the province of Massa Carrara, and borders the coastal region of Liguria and Emilia Romagna.

This three-bedroom restored house is set on top of a 16th century stone building in a picturesque area near the village of Licciana Nardi. Retaining its original features, the property comes with a large attic room, a terrace with a pizza oven, a living room with a wood burning stove and a bathroom with fitted shower.

With an abundance of medieval castles and breath-taking scenery, Lunigiana has been likened to a “magical kingdom”.

The nearest airport is Pisa, followed by Genoa. The area, popular for hiking and cycling, is also within reach of Cinque Terre, Lucca and Florence. 

4. Two bedroom house in Pretoro, Chieti, Abruzzo – €89,000

This two-bedroom property, located 15 minutes from a local ski resort and 25 minutes from the Adriatic coast, has been completely restored in stone and rock. It comes with a terrace with views over rootops and towards the sea, a dining room/kitchen, living room and fireplace.  

The nearest airport to Chieti, a mostly mountainous area, is Pescara. The area is well-known for its wine and olive oil. 

5. Two-bedroom villa in Francavilla Fontana, Brindisi, Puglia – €89,000

Puglia, the sun-kissed region on the heel of Italy's boot, comes with a glorious coastline and many beautiful towns.

But, compared with the likes of popular Tuscany, it is still relatively untouched by mass tourism.

That said, foreign property buyers have been lured to the region in recent years by its characteristic trulli homes, with their coned rooftops.

But many of those require restoration.

Here we have a two bedroom, ready-to-live villa in Francavilla Fontana, a town within reach of Brindisi airport.

Spread over 100 square metres, the property also consists of a living room, kitchen/diner, bathroom and two large covered porticos as well as a roof terrace.

It is also surrounded by a well-kept garden with olive trees, ornamental plants and ample parking space.

6. Two bedroom apartment in Lajatico, Pisa, Tuscany

You'll find this property in the hilltop village of Orciatico, which is part of Lajatico, the birthplace of Italy's famous tenor, Andrea Bocelli.

Each year, visitors from all over the world descend on Lajatico for an open-air concert in its amphitheatre. 

Volterra, San Gimignano and the airports of Florence and Pisa are all within an hour's drive.

The 100-square-metre property, which is currently being renovated, will come with two bedrooms, a living room, bathroom and balcony with a view over the village. The renovation is expected to be completed within four months. 

The surrounding area is popular for hiking, mountain biking and horse riding.

7. One bedroom apartment in Rotella, Ascoli Piceno, Marche – €87,500

Surrounded by rolling hills, the picturesque town of Rotella has just 985 inhabitants. 

The property, which is on the ground floor, provides spacious accommodation including a newly fitted kitchen, living room with sofa bed and French doors leading onto the patio, bedroom and bathroom.

The apartment is said to be “tastefully furnished”. The nearest airport is Ancona.

8. One bedroom apartment in Potenza Picena, Macerata, Marche – €99,000

Another gem from the rolling hills of the Marche region, this one-bedroom apartment, part of the Ecocittà property development, has been described as “class A”.

Located in Porto Potenza, Macerata, and close to the sea, the property is said make an ideal holiday home. The development itself includes shops, a central square and green areas.

Hosting one of Europe's oldest universities, the hilltop town of Macerata has a vibrant student scene.

9. Three bedroom apartment in Teulada, Cagliari, Sardinia – €100,000

The first and only on our list from one of Italy's islands, this modern three bedroom apartment is located in the picturesque town of Teulada, and is just a five minutes drive from Sardinia's stunning south coast.

The property comes with two large bedrooms, a kitchen with all appliances, two large bathrooms and a lounge/dining room. There is also a guest bedroom and balcony.

10. Two-bedroom apartment in Vallabona, Imperia, Liguria – €95,000 

Italy's Ligurian coast, which stretches from the French border right the way down to the famous Cinque Terre, is dotted with several pretty towns set against a mountainous background.

This property is located in Vallabona, a town founded in the Middle Ages, in the province of Imperia. 

Located on the first floor of a typical Ligurian house, the apartment comes with two bedrooms, living room, kitchen, bathroom and cellar.

It is surrounded by places to visit, including Bordighera, Alassio and San Remo, and is close to the south of France, giving you the choice to either fly into Nice or Genoa.

These properties have been brought to The Local via A Place in the Sun, a British Channel 4 lifestyle programme about buying property overseas.

For more details on these and other properties in Italy and elsewhere, please visit www.aplaceinthesun.com.

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PROPERTY

Five pitfalls to watch out for when buying an old house in Italy

Tempted to snap up a little slice of Italy at a bargain price? The older the house, the more potential issues you'll need to be aware of.

Published: 29 March 2024 10:17 CET
Updated: 29 March 2024 12:03 CET
Five pitfalls to watch out for when buying an old house in Italy

Italians themselves may have very little interest in buying or fixing up Italy’s many unwanted old houses, but international visitors are often swept away by the charm of these rustic buildings in romantic settings.

It’s easy to see why. The quirky structures, period details, and picturesque surroundings – not to mention low asking prices – inspire countless people worldwide every year to investigate buying an Italian home of their own, often as an investment or retirement property.

MAP: Where in Italy can you buy homes for one euro?

International interest in cheap Italian property has only intensified in recent years, with dozens of idyllic villages advertising ‘one euro’ homes and other low-cost property offers aimed specifically at foreigners.

Savvy buyers are aware that non è tutto oro quel che luccica (all that glitters is not gold), and quickly realise that these long-neglected buildings really cost somewhat more than one euro to buy and renovate. Still, some of The Local’s readers tell us these offers are worth taking advantage of.

But whether you’re looking at spending a couple of thousand euros or much more on your dream Italian property, there’s always a lot to consider – including some issues that you’re unlikely to experience when buying a home in your home country.

These unexpected issues can turn the Italian dream into a bit of a nightmare, and sometimes lead to buyers having to abandon a purchase, losing money in the process.

But if you’re aware of potential pitfalls in advance, you’re far more likely to be able to complete the purchase process with no major problems at all.

Property taxes and fees

Of course you’ll be expecting tax as part of the property purchase process, but Italian property taxes are particularly steep.

Experts say the total cost of buying in Italy will add approximately ten percent to the purchase price, and advise prospective buyers to budget accordingly.

There’s stamp duty, which is between two and nine percent of the cadastral value (valore catastale) of the property, with a minimum threshold of €1,000 even on the cheapest homes. Plus VAT at four or ten percent, land registry tax, and, if applicable, mortgage tax.

You can also expect to pay between one and five percent of the purchase price as a fee to the estate agent. In Italy agents work for both the buyer and seller – and collect compensation from both parties once the deal is done.

Then you’ll likely need a couple of thousand euros for the notary, plus a similar fee for any other agents you use, such as a mortgage broker, plus legal fees if a lawyer is involved.

See more about the ‘hidden’ costs of buying property as a foreigner in Italy.

Bickering relatives

It may sound unbelievable to non-Italians, but it’s not unusual to find that even the smallest old properties, or parts of them, are legally divided up between dozens of family members due to Italy’s inheritance rules.

One buyer The Local spoke to found herself having to deal with 22 people, all relatives, who each turned out to own a share of a small property she was buying in Mussomeli, Sicily; one of the first places in the country to sell off old properties for a euro.

Toti Nigrelli, the mayor of Mussomeli, said “having to negotiate the sale with multiple owners” was normal.

While this buyer impressively managed to negotiate the deal with all 22 parties, in many cases similar sales fall through because relatives – distant cousins, great-aunts, long-lost nephews – are often not on good terms, disagree over the sale, or can’t be traced.

At the very least, you will need to check the property’s records carefully to make sure there are no surprises in store – such as long-lost relatives who might turn up to claim the property back after you’ve bought it.

A trullo house before renovation in Cisternino, Puglia. AFP PHOTO / GIUSEPPE CACACE

Illegal builds

Another thing that often astounds foreigners who buy property in Italy is the enormous number of illegal builds – homes that were built entirely without permits – on the market as well as the even greater number of houses featuring modifications which were never officially approved or recorded.

Illegal housebuilding in Italy is often thought of as a decades-old issue, but recent data shows that, in 2021, 15 houses were built illegally for ever 100 authorised. Illegal building is twice as common in the south of the country as in the north, and thousands of cases are detected every year – though few people are ever prosecuted.

If you buy a house with undeclared modifications, the buyer is usually held responsible for paying to regularise the paperwork with the town hall. If you catch this issue early enough – and not all sellers or estate agents will inform you about them – you may be able to negotiate for the seller to cover these costs before you make an agreement.

If however you end up unknowingly buying a house built without the correct permissions, or if you never regularise any unauthorised changes, the property will likely prove very difficult to sell on.

This is one of many reasons why buyers need to carefully check the catasto (land registry or cadastral records) of a property themselves, and have a notary check everything is in order.

Conservation rules

When you initially view and fall in love with that charming stone house in the historic centre of a gorgeous Italian hilltop town, rules and regulations are probably not the first thing on your mind.

But it pays to know that old homes featuring frescoes, loggias or ancient stone cellars, as appealing as they are, are often protected by Italy’s cultural heritage authority – meaning more red tape for their owners.

One reader was forced to give up her dream of buying a portion of a two-floor 1700s building in the village of Civita Castellana, Lazio, because it needed renovation work to make it livable – but the frescoed walls, decorated fireplaces and elegant stonework entrance were vincolati (under restrictions) due to Italy’s historic conservation rules.

READ ALSO: Tuscany or Basilicata? How Italy’s international property market is changing

In many cases, this means renovation work can’t be carried out at all, or will be subject to reams of paperwork and close monitoring from authorities known as the sovraintendenza belle arti. To make things trickier, rules can also vary by local authority.

If you think a property you’re interested in might be subject to these rules, it’s always wise to consult the local sovraintendenza at an early stage. And of course, you’ll want to get hold of the records of the property from the catasto (land registry).

Resale prices

The high taxes and costs involved in buying and selling a property in Italy are often said to be one reason why, for most Italians, the concept of climbing the property ladder doesn’t really exist in the way it does in some countries.

Italy’s property market is unusual in Europe in that house prices on average are relatively stagnant. With the exception of some types of property – such as new-build apartments and luxury homes – overall prices have risen little over the past decade.

This is partly because the Italian market is weighed down by a large volume of old, neglected properties in need of major work – hence schemes like the one-euro sales and the (formerly popular but now-unavailable) 110 percent ‘superbonus’ for renovations.

But overall, if your main motivation for buying an old Italian home and renovating it is profit, you’ll need to consider that the resale potential may not be what you’d hope. The exceptions to this are at the pricier end of the market, in most major city centres, and in tourist hotspots.

See more in The Local’s Italian property section.

Do you have any more tips on buying a property in Italy? We’d love to hear from you in the comments section below.

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