Forget Italy’s €1 Houses—Here’s What You Can Really Buy

Forget Italy’s €1 Houses—Here’s What You Can Really Buy in Palermo
Real homes in Palermo from $17,900—skip the €1 gimmicks and buy smart.|©iStock/Sean Pavone

“I bought a three-story house in Italy for the price of a Snickers Bar!”

“5 Places in Italy Where You Can Buy a Home for Only €1”

“Want to Live in Italy? You Can Own a House for Just 1 Euro!”

The headlines intrigued me. Buy a house for just a euro? In Italy?! Although that wasn’t the reason I chose to move to Italy, it was still an interesting concept, so I looked into it—and it is possible. The price is certainly right, and hundreds of people have taken up the challenge. However, I wasn’t prepared to take on a project of this magnitude: renovating a shell of a home in a nearly deserted town.

But I didn’t give up hope. After a bit more research, I found real homes in a real city, where you can still purchase an affordable, charming, livable place with running water and a roof…often for less than the price of a new car. Come to Palermo and let me give you a tour.

Here in Palermo, there are hundreds of homes for sale, and prices range from just $9,100 for a rough-and-ready, ground-floor apartment of 325 square feet, available through auction, up to a $4.2 million Art Nouveau masterpiece with more than 9,000 square feet, built one hundred years ago in nearby Mondello, just steps from Palermo’s favorite beach.

Although that gorgeous home is simply stunning, with its ornate marble columns, beamed and coffered ceilings, formal gardens, and spectacularly tiled terraces overlooking the azure and turquoise sea, it’s not “affordable” by any stretch of the imagination. So let’s take a look at what is affordable in Palermo.

Affordable Homes in Palermo

Everyday life unfolds on Palermo’s sun-warmed streets.
Everyday life unfolds on Palermo’s sun-warmed streets.|©iStock/poludziber

As a veteran home buyer, renovator, flipper, Realtor for 20 years, and real estate investor in the U.S. since the 1980s, I’m just beginning my own buying adventure here in Palermo as I search for a place to call my own. I’ve been living in Europe for over two years as a renter, and I’m finally ready to plunk down some cash and find la mia casa, dolce casa (my home sweet home) here in beautiful and vibrant Palermo. I’m always happy to tromp around and look at places, waiting for that “aaaahhh!” moment in my gut that lets me know I’ve found the right match, a place that I can update, decorate, and call “home.” Like the song says, “you can’t hurry love”!

And good news! You don’t need to be a citizen, or even a resident, to purchase real estate in Italy. (Contrary to what you might read on the “interwebs,” purchasing Italian property does not give you extra points or a jumpstart on becoming a resident or a citizen, as those processes have nothing to do with homeownership.)

Something to note here in Italy when shopping for a home to buy (or to rent): there’s no “MLS” (multiple listing system) where real estate agents share their listings with other professionals. When searching for a rental or a property to purchase, you’ll look online using sites such as Immobiliare.it and idealista.it, and reach out to each agent individually to be shown the property. Once you’ve found your dream home, you’ll need a stable of trusted professionals at your disposal: a notary, an attorney, a translator, a geometra (Italian surveyor), possibly an architect or an engineer, and a bank for a mortgage if you need financing.

As in most cities, you will find less expensive properties on the outskirts of the historic center, and better prices the further afield you go. However, you would most likely need a car if you choose to live outside the city center. Living in Palermo, there’s no need to own a vehicle. Think of the money you’ll save by living a car-free life… that’s more money for creamy gelato, pasta carbonara al dente, and local vino grown right here in Sicily!

Let’s begin with one of the least expensive offerings on the market today in Palermo, one that has potential (and a roof!).

A Fixer With Potential

A cozy space of approximately 380 square feet, this one-bedroom, one-bath apartment needs someone with vision to return it to its former glory. This 1940s apartment is located in the Calatafimi Bassa/Cuba neighborhood, just a 20-minute bus ride or 25-minute walk from the stunning Cathedral of Palermo, on a quirky street in an authentic and yet-to-be-gentrified part of town. Immerse yourself in the local vibe and energy as you explore the neighborhood in search of your favorite cannoli, sampling the fresh produce for sale on so many corners. Renovating this apartment could be the challenge and labor of love you’re looking for! Priced at just $17,900.

An Authentic City Neighborhood

Bumping up your price range to $45,000, you’ll discover this third-floor walk-up in the Zisa neighborhood of Palermo. Located just outside Palermo’s historic area, Zisa is historic in its own right. The sumptuous Palazzo di Zisa, completed in 1190, is a UNESCO World Heritage Site. This luxurious hunting lodge for Norman royalty was built just outside the stone walls of the ancient city of Palermo as a summer retreat to escape the heat of the bustling metropolis. The word “ziza” comes from the Arabic “aziz,” meaning “magnificent.” It’s an area that is awakening to some regeneration and revitalization, but piano, piano (slowly, slowly).

If you’re up for the challenge and want to get in on the “ground floor,” you may be interested in this apartment on Via Cipressi 13. A third-floor walk-up (meaning it’s “really” a fourth floor for North Americans, since Europeans number the ground floor “0” and the next level up as “1”), living here will literally get your heart pumping and qualify as your daily cardio workout. A spacious bedroom, wrought-iron railings on the balcony that overlooks the lively street below, and cheerful ceramic flooring define this 1930s apartment of 528 square feet, with transoms above the doors to bring in the Sicilian sun. This apartment needs renovation and is waiting for your vision to make it home.

Nothing fancy, overpriced, or touristic here in this neighborhood, just regular people living regular lives. Close to all the necessities of life within walking distance, you’ll soon be popping into your favorite pasticceria every morning, where the proprietor will greet you with a hearty “buongiorno!” and serve up your “usual,” a smooth espresso accompanied by a crunchy pistachio-filled cornetto (Italy’s version of a croissant). You’re just an easy walk to Palermo’s lively centro and can stroll over for a refreshing Aperol spritz with friends to enjoy the nightly passeggiata, Italians strolling along casually to meet and greet one another.

The 12th-century Palazzo della Zisa anchors this historic neighborhood.
The 12th-century Palazzo della Zisa anchors this historic neighborhood.|©iStock/Rudolf Ernst

Livable and Affordable

You could find yourself in an established neighborhood called Monte Pellegrino, in a modest home circa 1920 that needs some TLC. For just 40,000 euros ($47,900), you can purchase a two-bedroom, 595-square-foot apartment with lovely ceramic tile flooring, large wardrobes in spacious, light-filled bedrooms, and a cute, compact kitchen. From the balcony, sip a glass of local wine while enjoying expansive views of the mountains that surround Palermo as the sunset colors the sky in shades of rose and gold. And if you’re seeking some R&R, grab your book or journal and head to a peaceful oasis in the nearby park, where elegant marble statues pose in fountains filled with lazy turtles swimming languorously. Relax on a bench under an ancient, gnarled ficus tree.

Move-In Ready Option

Are you looking for something turnkey? If you’d prefer a home that’s been modernized, needs no work, and is move-in ready, consider this 700-square-foot, two-bedroom retreat located on Via Antonino Mongitore.

Sold fully furnished, this apartment in a 1960s three-story building has been a successful short-term rental and can be kept as such for a source of income while you’re away, or used as your personal abode. It features modern appliances in a light and bright kitchen with cheerful red cabinetry, two bedrooms with air conditioning, and is ready for you to move in without any hassle.

Conveniently located near the splendid Norman Palace and just a few minutes from the iconic and vibrant Ballarò market, you can head out the door and meander through a multitude of food stalls, shopping for deep plum-colored artichokes and sun-dried tomatoes bursting with flavor for tonight’s dinner.

And the price? Only $104,000, and the monthly maintenance fees are less than $30!

A Lifestyle Upgrade

If your budget is a bit higher and you prefer something more spacious, consider this two-bedroom apartment where you can simply show up, unpack your clothes, and start enjoying your new life.

Gorgeous new flooring, bold and beautiful paint colors, and many thoughtful updates and improvements define this spacious 750-square-foot home with two bedrooms, two baths, and two balconies.

You’ll be living smack dab in front of the verdant Palermo Botanic Gardens and charming Villa Giulia, home to more than 30 acres of greenery, a plethora of intriguing statues, exotic and rare flowers and trees, and a myriad of plant life from around the world.

Close your eyes and imagine fresh breezes from the Mediterranean Sea wafting through the French doors of your balconies as you brew freshly ground Italian coffee in an authentic moka pot in the stylish and modern kitchenette.

You’ll be happy to know that one of the best arancina (Sicily’s famous fried rice ball) in town is just a few minutes away! And on sultry summer nights, enjoy aperitivo inside the gates of the lush 18th-century gardens of Villa Giulia, which offer live music in the evenings. It’s easy to relax and fall into the rhythms of Sicilian life here.

This apartment on Via Lincoln is listed for $179,500.

Villa Giulia offers a green escape in the heart of Palermo.
Villa Giulia offers a green escape in the heart of Palermo.|©iStock/edb3_16

Why Palermo Works

In Palermo, it’s possible to avoid the potential pitfalls and headaches of a one-euro home. Those purchases are most often complete renovations that involve obtaining permits (a bureaucratic nightmare) and major structural repairs, requiring enormous amounts of time, money, and patience to coordinate the work. It can be especially challenging if your Italian isn’t quite up to par yet. And perhaps you’d rather not deal with the inherent risks of living in a village that is quite charming, but situated within an earthquake zone.

It’s easy to avoid these issues if you’ve got a modest home-buying budget by purchasing a place in Palermo. You’re sure to find something to delight, intrigue, and steal your heart, and for a reasonable price, so you can get right down to what you came to Italy for in the first place: to slow down, enjoy, appreciate life, and relax.

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