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Argentines in Italy Reveal the Truth About One-Euro Houses: The Real Investment Cost

25/06/2026 09:40 - Sociales

inversión inmobiliaria Italia inmigración Calabria casas por un euro

For over a decade, headlines about the famous “houses for one euro” in Italy have circulated worldwide, sparking dreams of an affordable European lifestyle. However, an Argentine couple currently living in southern Italy decided to tell the real story behind this viral promise, dismantling myths and explaining the hidden costs that social media never mentions.

Eduardo Coronel and Noeli Forciniti, originally from Rosario (Argentina's third-largest city, located in the province of Santa Fe), settled in Calabria (the region forming the “toe” of Italy's boot-shaped peninsula) after living in Australia and Japan. From their experience in Cetraro, a small coastal town, they warn that reality is far from the real estate fantasy sold on the internet.

The Myth of the Symbolic Price

The one-euro house program began in 2015 as a strategy to combat population decline in small Italian towns. While the purchase price is symbolic, Eduardo Coronel explained that “the cheap houses ran out” due to the viral publicity. In places like Aieta, a medieval town of 700 inhabitants in Calabria, these opportunities are no longer available.

Key facts few people mention:

Minimum investment of 100,000 euros to renovate the property.
Security deposits between 5,000 and 10,000 euros (refundable only if work is completed).
Deadline of 3 years to complete renovations.
Construction projects subject to municipal approval and historical preservation restrictions.

Real Life in Italian Villages

Beyond costs, the couple emphasized that these towns are often in mountainous or remote areas. “They are beautiful places, but isolated and require a particular lifestyle,” Coronel noted.

Daily challenges:

Transportation: A car is essential; public transport is scarce.
Accessibility: Mountain roads make access to services difficult.
Services: Schools and medical clinics are often in neighboring towns or closed.
Citizenship: Buying a house does not grant automatic citizenship or residency.

New Opportunities: Plans with Real Financing

Far from discouraging, the Argentines highlighted new government programs offering more favorable conditions than the old one-euro houses.

Abita Borghi Montani:
Provides grants up to 5,000 euros for purchase or renovation, with a commitment to reside at least 5 years in municipalities with fewer than 3,000 inhabitants. Currently covers 89 Calabrian towns.

Ripopola Calabria:
Finances up to 280,000 euros for restoring abandoned historic buildings (villas, palaces). Properties are delivered renovated, with high-speed internet and thermal insulation.

Context for Foreign Buyers

For non-Italian speakers, navigating Italian bureaucracy can be challenging. Calabria remains one of Italy's most affordable regions, with pristine beaches, ancient Greek ruins, and authentic Mediterranean cuisine. However, foreigners should understand that property ownership does not automatically grant the right to live in Italy—you still need a valid visa (such as the Elective Residence Visa for those with passive income, or the new “Digital Nomad Visa” for remote workers).

Important terminology: