Update on “1 euro houses” in Sardinia

on Jan 2, 2018 | 0 comments

http _cdn.cnn.com_cnnnext_dam_assets_180117120651-ollolai---the-italian-town-selling-homes-for-one-euro---foto-di-michele-columbu-3Foto Michele Columbo

1 euro houses in Sardinia: dream or reality?

Buying a home that needs major renovations overseas is a very complex project. It is a process that requires time and passion.  When you want to buy a home at just one euro, you have two main challenges: falling in love with the village where these houses are offered at 1 euro and to be first in the buyers ranking if, on the same property, there are more buyers

Buying a 1 euro houses  is now possible in Sardinia next to the adoption of the Regional Law 8 dated April 23, 2015.
There are actually just 2 villages in Sardinia offering homes at 1 euro: Ollolai and Nulvi.
Ollolai is a very charming village in the middle of Sardinia. The ship / plane connections are more complex. It is far from the sea (it takes more than an hour to access the first beaches but the incredible beaches), the scenery is very beautiful and the villages around are very rich in history and traditions.

Nulvi is in the North Sardinia, nearest to the sea (only 20 minutes by car). The Porto Torres port and Alghero airport are around an hour’s drive.

http _cdn.cnn.com_cnnnext_dam_assets_180117135337-ollolai---the-italian-town-selling-homes-for-one-euro-ollolai-photo-credits-sardegna-liveFoto Sardegna Live

Principle: the buyer purchases directly by the owner and only for ONE euro. The municipality, where the property is located, will have accomplished all the bureaucratic process to make the property salable.  It is obvious that the purchaser shall bear the costs, without exception, related to the purchase of real estate properties (notary, tax expenses, like cadastre tax, registration tax and mortgage tax, 3-4,000.00 euro). In addition, the buyer has to take out a suretyship policy, (the amount varies according to the municipality) as a guarantee for the restructuring and recovery commitments. Once the house is bought, you have 3 years to complete the renovation.
Your property will be considered as a secondary home. It is not necessary to be Italian or live all time in Sardinia.

When you restore an old house in historical center you have to respect a special regulation. For that reason you need to work with local architects and local builders. Every project is unique. It is impossible to know in advance how much a restoration cost. Some buildings are in a state of disrepair that interventions are structural, then expensive.

Nulvi and Ollolai have already started the process of collecting proposals and selecting applications.

Concerning Ollolai, following the great interest aroused by an article in Netherland   and the creation of a reality show, the application forms are more numerous than the houses available!
In any case, the mayor is pushing to find other houses proposed at a price of one euro. For this reason I invite you to fill in the participation form and this by February 7th at 2 pm!

http _cdn.cnn.com_cnnnext_dam_assets_180117122849-ollolai---the-italian-town-selling-homes-for-one-euro---piazza-marconi

The commitment to purchase will arise when and if the municipality of Olloai will contact you to submit the properties still available at 1 euro. This step could take several months and  I think that you can do all those steps on your own without any problem.

After that, you may need assistance and it is probable my help could be important for you to understand the potential of different houses, the recovery solutions and costs. Our mission is to give the necessary support to realize your real estate project in Sardinia and to secure your investment.

To be correct and transparent with you, I remind you that we are independent consultants. If you need a more complete support, our range of services is wide and made to respond to any kind of need you may have, from legal to practical.

If you are motivated to buy a house for a reasonable price, but not for 1 euro, we can help you discover other villages in Sardinia where you can buy a small village residence, which need maybe some restoration but that the owners are not willing to donate for one euro. In this case I invite you to fill out my questionnaire, it is simple and fast, but it will allow me to understand your needs and expectations and, perhaps, I could be useful to you

For more information 1 euro houses at Ollolai :

Let ResRei Sardinia be your property finder. We are the best solution to find your home in Sardinia

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