🏠 Angela Nicole Ristow, a project manager from Kent, purchased a one-bedroom farmhouse just outside Latronico €9,000 (£7,800) and plans to completely overhaul it “When it will be done there will be three rooms,” she told us ⬇️
, the village has introduced a policy under which those who purchase a cheap turnkey dwelling as a holiday home do not have to pay property tax. In Italy, owners pay property taxes on all holiday and second houses: they’re exempted only if they take up permanent residency, turning it into their first home.
“Anyone who purchases an old shepherd or farmer dwelling as a holiday home is exempted from paying property and waste disposal taxes for five years; if they also decide to spruce it up with a minimal restyle, the exemption is for 10 years.
The village of Latronico, pictured, lies in the beautiful and historic southern region of Basilicata, less than two hours’ drive from the ancient cave city of Matera , all empty houses for new occupants and tenants. Affordable, abandoned homes that are ready for occupancy start at €10,000 , while villas with a patch of land and olive groves start at €20,000 . Studios are available to rent from as little as €200 per month.
In the past two years, 40 foreign buyers have grabbed one of these forsaken dwellings, and are benefitting from the tax exemptions. Mr Castellano has become a local hero, liaising between old and new buyers and sellers, helping foreigners negotiate the red tape and even translating for them.
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