Couple Bought House in Italy for $1: Ended up Costing Them $77,000

Written by Kathrine Frich

Jun.19 - 2024 9:24 AM CET

World
Photo: Shutterstock
Photo: Shutterstock
They Still Think They Got a Bargain

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A Car Dealer's Vision Leads to Sicilian Exodus

Flavio Cioffi, a 39-year-old car dealer from Wallonia, has facilitated the relocation of about 186 Belgian families to the Sicilian villages of Mussomeli and Acquaviva Platani.

According to DeMorgen during his vacations to the area, where his wife has roots, Cioffi was surprised by the local real estate prices, with many homes selling for just one euro. Residents sold their properties at such low prices out of fear they would remain unsold otherwise.

This opportunity was too good to ignore for many Belgians looking for affordable vacation homes.

Collaborating with Local Officials

Cioffi collaborated with local mayors to promote the idea of buying cheap homes in Sicily to his Belgian network.

"I cleared out my garage showroom multiple times to host information sessions about the project. Almost every week, I flew to Italy with interested buyers to show them the available houses," Cioffi explained.

He assisted Belgians with contacts to real estate agents and notaries, all without receiving any compensation for his efforts. His dedication earned him the title of honorary citizen of Mussomeli, a recognition he shares with Belgian royalty.

From Bargain to Investment

Geert Boeckx and his partner Karin Lemmes were intrigued by the offer of one-euro homes and decided to explore the possibility. Initially unimpressed by the dilapidated properties, they eventually found a renovated house in Acquaviva Platani for 6,000 euros, alongside a stable for 1 euro. The total renovation costs brought their investment to 70,000 euros.

"In Acquaviva Platani, there’s nothing to see, but a lot to experience," said Lemmes, highlighting the village's authentic charm and friendly locals.

This trend has boosted the local economy significantly, turning these villages into attractive spots for foreign buyers and revitalizing the community.