21 August, 2014: Anyone who has ever wanted to buy their own property in Sicily could be in luck now, as a number of properties have gone on sale for as little as €1. The properties on sale are in the hilltop town of Gangi, and they could prove to be a great option for anyone thinking about investing in villas in Sicily. For anyone potential investors renting holiday villas in Sicily this summer, it could prove a perfect opportunity to scout the area and see the properties in person.

An unbelievable investment

While the price of these villas in Sicily seems too good to be true, there is a catch: buyers must commit to investing in the restoration of the properties. Many of the buildings are derelict and in very bad condition, with local owners unable to afford to renovate them. With this innovative investment scheme, the town is hoping to attract more foreign money to the region to salvage the properties

In order to purchase one of the budget properties in Gangi, a potential buyer must pay at least €5,000 as a guarantee, and prove they have the funds available to renovate the property. It is estimated some of the properties will need in the region of €35,000 to renovate. Specialist advisors on foreign property investment also warn there are various legal costs involved in buying a property.

This intriguing scheme was actually launched several years ago, but is now attracting newfound interest from all over the world. For anyone interested in purchasing villas in Sicily, it could well be a dream come true. While many properties have already been purchased by savvy investors, there are still some remaining.

Gangi has stunning views of Mount Etna and is in a central location on the island, however it is not the only town to have such a scheme in place. The nearby coastal town of Salemi also ran a similar scheme a few years ago, where some investors bought properties either to live in or to use rent out as holiday villas in Sicily.

Specialist foreign property investment experts, while encouraging the scheme, warn prudence for those considering the purchase of a property abroad and advise them to always read the fine print and understand exactly what they are undertaking.

About Cottages to Castles:

Cottages To Castles is a family-run company offering quality accommodation in privately-owned Italian villas. Their comprehensive catalogue encompasses all the main Italian locations, and their family team of experts will use their knowledge of Italy to find the perfect location for any client’s holiday. Visit Cottages to Castles at http://www.cottagestocastles.com/

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