Unbeatable Deals on European Real Estate: A Catch-22?
Discover how to own a home in Sweden and Italy for next to nothing, but be aware of the hidden catches.
European Real EstateAffordable HousingRural DepopulationUrbanizationReal EstateJul 04, 2024
Similarly, in Italy, houses are being auctioned off for the symbolic price of €1, with some 50 municipalities participating in the 'Casa a un Euro' (€1 houses) initiative. However, buyers must agree to restore the homes they purchase, which can be a costly undertaking.
In Germany, rural areas have experienced depopulation since reunification in 1990, but a recent study suggests that people are now leaving cities for rural living. While there are no €1 houses or extremely cheap plots like in Sweden, online commercial sites still feature homes for sale at low prices. However, potential buyers should be cautious, as seemingly 'free' properties may have hidden liabilities.
Across Europe, young people are fleeing rural towns for cities, leading to a vicious cycle of depopulation and infrastructure decline. The European Commission predicts that 83.7% of EU residents will live in cities by 2050, up from 74% currently.
The European Commission is the executive branch of the European Union, responsible for proposing and enforcing EU laws and policies.
Frequently Asked Questions
Why are plots of land in Götene, Sweden so cheap?
The town is trying to attract buyers and revitalize the region, and is selling plots for less than 1 krone (around 10 cents) per square meter.
What's the catch with Italy's €1 houses?
Buyers must agree to restore the homes they purchase, which can be a costly undertaking.
Are there any other affordable housing options in Europe?
Yes, in Germany, online commercial sites feature homes for sale at low prices, and there are also abandoned properties available for free, although potential buyers should be cautious of hidden liabilities.
Why are young people leaving rural towns in Europe?
They are fleeing for cities, which they find more attractive, leading to a vicious cycle of depopulation and infrastructure decline.
What's being done to address rural depopulation in Europe?
The European Commission is implementing programs and initiatives to revitalize rural areas and stem the tide of urbanization.
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