The one-euro housing program began in 2022, when Penne’s mayor Gilberto Petrucci began to fear the town he was born in and raised in had become “a ghost town.”

“There are only 1,000 people left living in our gorgeous old district,” Petrucci told CNN Travel.

“It just hurts me so much to see these houses just lying there abandoned. It’s like a wound.”

The first three one-euro homes were sold in 2022. The second batch of three went at the end of last year. And now, a third batch of real estate is set to be up for grabs “in the next couple of weeks.”

“There are potentially over 40 empty buildings in town looking for new owners, and they’re all located in the historical center which has been declining since families started emigrating decades ago,” Petrucci explained.

The houses require no down payment, just your commitment to restyle the dilapidated dwelling and help breathe new life into the town of Penne.

“The only requirement is that buyers commit to restyling these houses in three years, but we ask for no down payment guarantee to start the works. We really want to encourage and support those who come to revive the ancient neighborhood,” he says.

Petrucci says that they have a team of architects available to buyers who can offer their support through their renovations.

According to the mayor, the starting cost for a basic restyling of a small-medium size house is in the range of 20,000 euros.

And if demand for the homes surpasses the number of homes on offer?  Petrucci has a solution.

The properties will be sold to the person with the best, and fastest, renovation plan.