Business Insider. Tom Murray Oct 7, 2019 In June, I traveled to Sicily to visit some of the towns that are selling off homes to foreigners for as little as 1 euro ($1.11 USD) to see what they were really like. In particular, I stayed in Sambuca, whose scheme has received some of the most widespread media coverage. While the town was unsurprisingly quiet, I was bowled over by the hospitality I...
South China Morning Post. Silvia Marchetti. August 27, 2019. The last thing Sambuca's deputy mayor Giuseppe Cacioppo expected when he ingeniously offered empty houses for just 1 euro was to see a young Chinese businesswoman rush in, eager to snatch one up. "She was the first to arrive in January, dressed in Armani and Chanel worth €10,000," recalls Cacioppo, who admits he was flabbergasted by the...
Thomson Reuters Foundation. Elaine Allaby. May 10, 2019 Bargain hunters from Argentina to China swooped on a one-euro-auction and snapped up 16 abandoned Sicilian homes in a foreign buying frenzy that was heralded on Thursday as a positive invasion of a dying hilltop town. Selling homes for toekn sums has become a popular, last-ditch strategy for tumbledown towns in Italy's south, many of which are...
Thomson Reuters Foundation. Elaine Allaby, May 9, 2019 Bargain hunters from Argentina to China swooped on a one-euro-auction and snapped up 16 abandoned Sicilian homes in a foreign buying frenzy that was heralded on Thursday as a positive invasion of a dying hilltop town. 16 stone homes were put on sale in January, each for the price of an espresso, sparking a stampede of would-be buyers hoping to buy a...