Fed up with inflated Australian house prices? Well, for less than the price of a cup of coffee, you could own a home in Italy.
Mark Kopun, from Adelaide, picked up a three-story building in the city centre of Mussomeli, Sicily, for just one Euro.
“Two years ago I sold everything in Australia: my house, my car. I got rid of all my possessions and went traveling to Europe,” he told SBS Italian.
While Mark was on his travels, his cousin contacted him from Australia after reading an article on CNN saying they were giving away houses in Sicily.
He checked out the article, which led him to the website case1euro.it which has listings for available homes in the Municipality of Mussomeli, in Sicily.
According to the website, in Sicily you will “not only buy a house, but you will have the chance to experience our culture, our traditions, the slow and relaxed life of one of the most peaceful and safe lands in the world.”
“It was a fantastic investment opportunity,” Mark says. “I have sold and bought properties in Australia many times, I have had big, big home loans and I always owed the bank money.
“The investment was my initial thought, but when I got there I fell in love with the place and the people.”
There is one catch, however. While the properties are available for one euro, investors are expected to renovate them within three years of purchasing them. Mark estimates his property will cost between 20,000-30,000 Euro to restore.
He is currently back in Adelaide working and saving for the renovations, and eventually hopes to open a small juice bar or café on the ground floor of the building.
To date, around 100 houses have been sold in Mussomeli. To find out more, visit the Case 1 Euro website here.
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