After some renovation works, an American citizen finds herself a house that is worth a fortune at 1 euro.
For some time now, several Italian municipalities have been proposing initiatives to repopulate villages that are becoming ghostly due to the abandonment of those who live there. This provides for the sale of properties for the symbolic amount of 1 euro provided that the new owner takes charge of the renovation.
This also happened for an Italian-American citizen, Meredith Tabbone that gives Chicago she moved to Italy to invest in the place where her great-grandfather, Filippo, had lived.
The place is in Sicily, a Sambuca, where in January 2019 the woman made a donation of 1 euro for a dilapidated house. Having won it, a few months later she started the renovation and safety works since the roof was covered in asbestos. The following year, the woman also bought the property next door for 27,000 pounds. Her goal was clear: to create an accommodation facility for tourists.
After 3 years and 210,000 pounds invested, the woman finally had her home ready to welcome her. At that point she was not satisfied and she bought two other guest houses in the same village for a total of £28,000 and a disused building for £58,000 which she is converting into a gallery and café.
When all work is completed by the fall of this year, its house purchased for 1 euroafter an investment of 230 thousand pounds, it will be worth between 4 and 500 thousand pounds.
The studio flat is now a four bedroom holiday home equipped with every comfort. “We also installed an upper terrace, a lower terrace, a spa and a cellar, as well as a fireplace and a pizza oven”- he revealed. In short, a great investment to try to repopulate the city that gave birth to his great-grandfather with tourists.
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