This small town in the Abruzzo region of Italy is selling homes for $1—no down payment required

This Small Town in the Abruzzo Region of Italy Is Selling Homes for $1—No Down Payment Required

By Steven Orlowski, CFP, CNPR

Dreaming of owning a charming home in the Italian countryside without breaking the bank? One picturesque town in the heart of Italy's Abruzzo region is turning that dream into a reality—with a twist that’s capturing international attention. The town is offering homes for just $1, and here's the best part: no down payment required.

Welcome to Villa Santa Maria, a quaint hilltop village nestled between the Apennine Mountains and the Adriatic Sea. Known for its stunning natural beauty, rich history, and warm hospitality, Villa Santa Maria has become the latest Italian town to join the growing trend of selling abandoned or neglected homes for next to nothing.

Why the $1 Homes?

Like many small towns across Italy, Villa Santa Maria has seen a sharp decline in population over the past several decades. Younger generations have moved to urban centers for work, leaving behind aging populations and rows of empty homes. In response, local officials are taking a creative approach to revitalization: offer homes at symbolic prices to attract new residents, entrepreneurs, and dreamers from around the world.

“We don’t want our village to become a ghost town,” says Mayor Marco Bianchi. “This initiative is about breathing life back into our streets, preserving our history, and creating a future for the next generation.”

What Makes Villa Santa Maria Unique?

While several towns across Italy have launched similar €1 home programs, Villa Santa Maria stands out for a few key reasons:

• No Down Payment or Upfront Fees: Buyers aren't required to put down a deposit or pay any administrative fees at the time of purchase. It’s as close to a no-strings-attached offer as you’ll find.

• Extended Renovation Timelines: Unlike other towns that require renovations within a strict 12-month window, Villa Santa Maria allows buyers up to three years to complete restorations—giving more flexibility to international buyers or part-time residents.

• Support for New Businesses: The town is also offering tax incentives and small grants to buyers who open businesses or convert their homes into tourist accommodations, cafés, or shops.

• Affordable Renovation Costs: Properties typically need extensive renovations, but local labor and materials are significantly less expensive than in major cities—making a full restoration possible for as little as $30,000–$50,000.

What’s the Catch?

As with most things that sound too good to be true, there are a few caveats to consider:

1. Commitment to Renovate: Buyers must sign a legally binding agreement promising to renovate the home within the agreed time frame. Failure to do so can result in a fine or forfeiture of the property.

2. Renovation Standards: Homes must be restored in accordance with local building codes and often with historical preservation guidelines in mind.

3. Residency Requirements: While not mandatory, the town gives preference to buyers who intend to live in the property year-round or contribute to the community’s economic development.

A Lifestyle, Not Just a Real Estate Deal

Buying a $1 home in Villa Santa Maria isn’t just a real estate investment—it’s a lifestyle choice. Life in this sleepy town is a world away from the hustle of big cities. Days are slower, meals are longer, and community matters. Residents enjoy fresh mountain air, scenic hiking trails, family-run vineyards, and easy access to Abruzzo’s pristine beaches.

“There’s a sense of peace here that’s hard to find elsewhere,” says Maria Di Lorenzo, a former Milan resident who recently moved into a restored home with her family. “We work remotely, we eat well, we know our neighbors—it’s the life we didn’t know we needed.”

How to Apply

Interested buyers can apply directly through the town’s official website, which includes photos of available properties, renovation guidelines, and legal requirements. Applications are open to both Italian citizens and foreign buyers, and the town has even set up an English-speaking support team to help guide newcomers through the process.

Final Thoughts

For those willing to take on a bit of elbow grease and embrace a slower, simpler way of life, Villa Santa Maria offers more than just a bargain—it offers a new beginning. Whether you’re looking for a vacation home, a retirement retreat, or a total life reboot, this little town in Abruzzo just might be the place where your Italian dream begins.