1-Euro Houses
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1-Euro Houses
1–10 of 196 posts
Re: 1-Euro Houses
#2This video [0] "The Truth Behind Italy's $1 Homes" by Business Insider, explains the concept, the motivation behind it and how these houses will cost you way more than 1$ in fees and restoration efforts.
Re: 1-Euro Houses
#3don't fall for it. The market says these aren't worth buying. Don't go against the market.
Re: 1-Euro Houses
#4If Italy is anything like Germany in terms of conservation laws, you wouldn't want those buildings even if they were accompanied by a small to medium pile of cash. It will cost you more than building anew to restore usability while observing all the conservatory dos and don'ts.
Re: 1-Euro Houses
#5Im +30 in Spain and I thought the demographic winter would land some great opportunities to buy a home. But looking into some deserted municipalities everything keeps being expensive, despite the extremely low demand (and I know this because I scrape the listings and track em). If I want to buy a shitty house that needs restoration I'm investing over 200k. Not to mention that the land registry holds values way above the market, so even if If I was able to buy for 1€ I would be paying taxes over 100k or whatever the value.
If you talk to some owners they seem to not care. Yeah they know that their property is falling apart but they won't sell under $value because they bought it at that price or similar reasonings.
So as an individual, what can I do? I don't want to be renting my whole life, I actually want to buy property but the market just doesn't adjust for some reasons. Remember we're talking about Spain, where the job market is shit, and the economy just can't keep up with the events.
Re: 1-Euro Houses
#6This video [0] "The Truth Behind Italy's $1 Homes" by Business Insider, explains the concept, the motivation behind it and how these houses will cost you way more than 1$ in fees and restoration efforts. [0] https://www.youtube.com/watch?v=nP2vtDLTAgM
Transcript? Rather not watch a talking head.
Re: 1-Euro Houses
#7don't fall for it. The market says these aren't worth buying. Don't go against the market.
The market (especially in real estate) is not totally frictionless and arbitrage-free. Plus people can have genuinely different valuations for consumable assets (like housing) - that's the entire point of a market, to facilitate trade where both sides make a gain on the transaction.
I don't think anyone would buy these houses as an investment, but if you wanted a quiet house in the countryside and spoke Italian already, maybe it could work for you.
Re: 1-Euro Houses
#8Im +30 in Spain and I thought the demographic winter would land some great opportunities to buy a home. But looking into some deserted municipalities everything keeps being expensive, despite the extremely low demand (and I know this because I scrape the listings and track em). If I want to buy a shitty house that needs restoration I'm investing over 200k. Not to mention that the land registry holds values way above…
There are more properties available in Italy that would not likely require 200k button the order of 10s of thousands. Maybe that’s your ticket?
Re: 1-Euro Houses
#9This video [0] "The Truth Behind Italy's $1 Homes" by Business Insider, explains the concept, the motivation behind it and how these houses will cost you way more than 1$ in fees and restoration efforts. [0] https://www.youtube.com/watch?v=nP2vtDLTAgM
Transcript? Rather not watch a talking head.
You can usually read the CC autogenerated by YouTube
Re: 1-Euro Houses
#10Im +30 in Spain and I thought the demographic winter would land some great opportunities to buy a home. But looking into some deserted municipalities everything keeps being expensive, despite the extremely low demand (and I know this because I scrape the listings and track em). If I want to buy a shitty house that needs restoration I'm investing over 200k. Not to mention that the land registry holds values way above…
This is the problem with a lack of land and property taxation. Elderly people will hold onto assets forever, until death essentially, whilst the building and society collapses around them. Meanwhile they demand a huge amount of welfare and healthcare services without paying into the system.
At least the land tax system in the USA encourages downsizing and efficient allocation of this resource.