The idea to sell homes for €1 (approx. $1.40) supposedly began in Southern Italy, sometime in the 2010s. Since then, however, the trend has spread, and there are offers for these even in the north of Italy. We’ve also seen quite a lot of discussion about this, on sites like Reddit. To Singaporeans locked in the tropics, this can be an alluring prospect – but is there a hidden catch, and is that the actual price of the property? Here’s what you need to know: Table Of Contents

• Why would anyone sell a home for €1?
• How someone closed on a home in Italy
• Important things you should keep in mind
• 1. Don’t forget about HDB eligibility rules before you buy
• 2. A lot of fixing up will be required
• 3. These properties can be tough to resell
• 4. Proper legal representation is important
• 5. You have to preserve certain facets of the house
• 6. Property ownership is unrelated to residency status

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