“Little America” Flourishes in Italy, Properties Up for Grabs for $3 a Piece | Firstpost America

“Little America” Flourishes in Italy, Properties Up for Grabs for $3 a Piece | Firstpost America

A village in Italy, known for its $1 home initiative, is now offering homes for just $3. Mayor of the town reported that the plan has been a success and that “foreigners are flocking” to buy their homes. Sambuca gained attention in 2019 by selling 16 properties for $1 each. After two years, another batch was sold for $2. And buyers from as far as the Middle East injected around $21.8 million, into the local economy. So far, 250 homes have been sold and the majority of the residents are Americans, establishing a “Little America” in this isolated area region. Watch our video to know more.

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and our final story is from Italy if your dream has been to own a home in Italy well now is your chance sambuka D cilia a famous wine production Province and is hoping to sell off abandoned homes for just $3 in fact more and more Americans are now traveling across the Atlantic to Italian towns in southern Sicily to grab some Serene real estate with prices in real in the real estate market skyrocketing in the United States the deal across the pond seems too good to be true our final report shares more about Italy’s famous dollar homes there’s a place on the Italian island of Sicily where you’re most likely to hear an American accent wafting down its narrow streets sambuka di Sicilia which gained a reputation as one of the first places in the country to sell off houses for a dollar is now becoming something of an Italian Little America years after selling their 1o home deals sambuka is gearing up for a third round of sales with houses starting at just a little over $3 there are 12 homes available for purchase in the historic sarachan district and the residences range from 1 to three stories and feature two to three bedrooms constructed with golden brown Stones while these houses require some work to become livable they are described as structurally stable as those so far sold according to the newly elected mayor guepe kopo at least 250 homes have been sold so far and this too good to be true strategy has even attracted buyers from as far away as the Middle East pumping around 21.8 million dollar into the local economy sambuka de Sicilia has not yet announced the start date of the auction but it’s not the only town in the country attracting new residents currently there are at least nine other municipal ities offering houses under the 1o house program depending on the condition of the property Renovations usually start at $32,500 for a simple makeover but can rise to over $200,000 if the buyers plan to turn the house into a luxury Retreat locals eager to cash in on the demand are also selling off garages and old attics and in this latest auction homes will be sold to the highest bidder with bids based in sealed envelopes and opened in front of a judge an over $5,400 deposit is required to participate if you lose the bid your money is returned immediately if you win the deposit becomes your guarantee with these low prices and the promise of a rejuvenated lifestyle sambuka in Italy continues to attract interest from around the world making it an appealing destination for people who dream of owning a piece of Italian History from impeachments to inaugurations if it’s a political story we are on the scene the race for the White House is heating up we’re beating Biden how dare he say that if it’s breaking news we’re live with the latest coverage from the White House the state department and Capitol Hill we know the issu but above all we know the players to bring you the latest in-depth analysis on all the key stories that we’re covering I’m ham join me from Washington here on first post America