I bet you have heard of the 1€ house auction in Sicily, haven't you?
This program has made the headlines in major medias throughout the whole world; after it various Italian municipalities have adopted the same standard. Let me introduce you to the 1€ homes auction in Vetto - Emilia Romagna; in the heart of the food valley known for various international gourmandise premium foods, one for all Parmigiano Reggiano - the KING OF CHEESE.
how does the auction work?
Normally you were required to attend the auction day in Italy; alternatively, you could provide a lawyer a power of attorney or a proxy to place your bid or intent to buy the 1€ home. The process is very costly, especially if you don't end up winning the home!
LET US INTRODUCE YOU THE FIRST ONLINE 1€ HOME AUCTION
All you have to do, is to register to the auction and place your bid to win the home, everything from the comfort of your house with no proxies or power of attorney required to participate to the auction itself.
The 10€ registration fee helps us to cover the technological expenses for the auction; with that you will get our partner's ebook "The Italian homebuyer's guide" to explain
Find it on Amazon
hoW MUCH IS RENOVATION?
Renovations can be costly, and definitely more expensive than 1€. However, Retire2Italy will help you out to minimize the costs.
BONUS SISMA - RISPARMIO ENERGETICO
The Italian laws allow a maximum € 96,000 tax break per house unit. You can trade this credit directly to your contractor reducing your total expenditure.
Let's say the renovation costs € 120,000, trading in your € 96,000 tax credit, you will only pay only pay € 24,000
EMILIA ROMAGNA BONUS
If you are EU citizen wishing to renovate a property in Emilia Romagna, you can benefit of a € 30,000 regional contribution.
More info HERE (Italian language)
The municipality of Vetto provides a contribution of € 1,500 for anyone purchasing a home in Vetto.
HOW can WE HELP
Retire2Italy not only powers the auction, but provides valuable services to the winner, supporting in:
House purchase paperwork/process
VISA and Citizenship by descent application
what else do you have to pay?
On top of the house price you are required to pay:
Property tax purchase
Annual property tax (unless you move your residency in it)
our commitment to the cause
Retire2Italy is deeply and fully committed to help local communities to develop and have an international approach to tourism aiming to promote the local lifestyle and well renowned products abroad.
We then commit to devolve 20% of the auction proceeds to the local community project Pro Loco