Sambuca di Sicilia, a picturesque village in Italy, gained international fame in 2019 with its innovative scheme to auction off old homes for as low as one euro. This campaign aimed to revitalize the local economy by attracting new residents and investors to rejuvenate its abandoned properties. The town repeated the initiative in 2021 with starting bids at two euros and is now preparing for a third round with bids beginning at three euros. This year, around a dozen properties are up for auction, with Mayor Giuseppe Cacioppo highlighting the substantial economic boost from previous sales, which injected 20 million euros into the local economy. These properties, featuring charming courtyards and iron-wrought balconies, require significant repairs but are deemed structurally stable. Prospective buyers must place a 5,000 euro deposit to participate, ensuring serious commitments to renovating the homes within three years, a term the town has been flexible with due to the pandemic.

The viral property sales have placed Sambuca di Sicilia firmly on the map, attracting international buyers eager to own a piece of Italian heritage. Since the start of the initiative, 250 homes have been sold outside the original auctions, underscoring the scheme’s popularity. One notable buyer, Meredith Tabbone from Chicago, secured a property for 5,555 euros in the first auction without having seen it in person. Her subsequent purchase of a neighboring building and extensive renovations totaling 425,000 euros illustrate the significant investments these low-cost homes can entail. Despite the challenges, Tabbone found personal fulfillment and a sense of community in Sambuca di Sicilia, aligning with the town’s renaissance. Her experience highlights the appeal of a slower, more meaningful lifestyle in a historically rich setting, and she plans to keep her home in the family, eventually donating it to the village, symbolizing a lasting legacy of the revival scheme.