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The €1 home initiative emerged as a response to the alarming depopulation of rural towns in Italy, particularly after devastating events like the 1968 earthquake that left many homes uninhabitable. Areas that were once vibrant were left with centuries-old structures in disrepair. These initiatives aimed to transfer ownership of crumbling homes to new residents who could invest in their restoration, thereby revitalizing the local economy.
Initially launched in the town of Sememi in 2008, the scheme quickly spread across Sicily and mainland Italy. By 2019, an international audience was drawn to the idea, spurred on by headlines that seemed too good to be true. However, the realities of these transactions often reveal a stark contrast between expectation and reality.