The municipality of Farini in the Italian region of Emilia-Romagna has launched a program to sell homes for a symbolic price of €1 in order to encourage the restoration of abandoned properties and revitalize the town. According to a notice from the municipality, the program involves properties transferred by private owners that are planned to be repurposed for residential, tourist, commercial, and other uses. Farini’s official website also states that the municipality has a population of 1,047.
Authorities state that the initiative’s goal is to renovate dilapidated buildings, attract new residents, and boost the area’s economic appeal. Applications are open to all interested parties, even if they do not reside in Farini, as well as third-sector organizations active in the local community. In return, buyers are required to renovate the purchased property and maintain it in good condition.
The municipal website already features at least one property in the “Houses for EUR1” showcase—a four-story stone residential building in the Valle di Cogno San Bassano area. The description states that the building is not subject to any special restrictions and can be restored not only as housing but also for commercial, tourism, or craft-related activities.
The Farini program has also attracted market attention because such schemes are usually associated with southern Italy, whereas in this case, the initiative is taking place in the northern part of the country. For small municipalities, such initiatives remain one of the tools for combating depopulation, expanding the tourism base, and returning vacant properties to use.
