A New Wave of Interest in Sambuca di Sicilia
The small town of Sambuca di Sicilia became famous worldwide when it launched its €1 home scheme, attracting a surge of American buyers. The initiative aimed to revitalize the town, which had suffered from depopulation as residents moved to bigger cities. While Americans dominated the first two rounds of bidding, a surprising shift has taken place—Italian buyers are now leading the charge.
‘Italy’s Little America’ Sees a Shift
The mayor of Sambuca, Giuseppe Cacioppo, expressed his surprise at the latest auction results. “Something weird happened with this third batch of auctioned homes; we thought more Americans would apply, so we were amazed that for the first time ever it was mainly Italians from all over Italy,” he told CNN.
Over the years, Sambuca placed dozens of homes on the market, and American buyers responded enthusiastically, purchasing both abandoned and ready-to-occupy properties. However, when a new batch of dilapidated homes was auctioned for €3 in November, the response was notably different. Only 15 bidders participated, and just six were successful. Among them, only one was American, while most were Italian and from other European countries.
Revitalization Through Foreign Interest
Despite fewer American bidders, Cacioppo believes they remain integral to Sambuca’s revival. “Americans kickstarted the resurrection of Sambuca,” he said. “They bought 18 crumbly homes at auction in the first two rounds, and over 100 turn-key properties privately.”
Instead of opting for cheaper homes in need of renovation, American buyers now seem to prefer ready-made properties that require little to no refurbishment. This change in preference has made Italians realize the true potential of these bargain homes. “The Italian buyers are all young and this too is a major surprise. They’re not pensioners but people who can also work remotely,” added the mayor.
Italians Rediscover the Value of Their Heritage
One of the new Italian buyers, financial adviser Paolo Morabito, 25, from Messina, purchased a small 35-square-meter stone house for €2,222 with his architect friend Bruno Surfaro. They plan to invest around €30,000 to transform it into a vacation rental. “Even though I’m Sicilian and I live just a few kilometers away, I felt embarrassed at never having even visited the place,” Morabito admitted. “So when I did, I thought, ‘Why leave such opportunities to foreigners?’ We Italians, often too lazy, must wake up and buy these properties as well.”
Another Italian buyer, Cristian Salucci, 47, from Ravenna, purchased a 70-square-meter house for €1,000 and intends to spend €100,000 on renovations. “I saw an opportunity for investment and a close retreat for family vacations with my wife and son,” he said. His experience as a construction project manager across Italy made him realize that these neglected homes hold great potential.
A Touch of Nostalgia for American Buyers
While Italian buyers now dominate, one American still participated in the latest auction. Paul Kanitra, 45, from New Jersey, purchased a home in Sambuca to reconnect with his family roots. His great-great-grandparents emigrated from the town in the late 1800s, leaving behind their home. “The three-euro program has given my wife and I the opportunity to now go back in time and re-establish a little presence in the town of my ancestors,” said Kanitra.
Although the house requires significant renovations, Kanitra is determined to restore it. “It’s our way of giving back to both sides of the ocean,” he said, adding that he plans to use the home as both a vacation retreat and a non-profit center to foster ties between New Jersey and Sicily.
The Future of Sambuca’s €1 Homes
Sambuca’s €1 home initiative has evolved over time, with new waves of interest and changing buyer demographics. While Americans ignited the town’s revival, Italians are now stepping in, recognizing the beauty and opportunity in their own backyard. With continued investment and appreciation, Sambuca di Sicilia is on a promising path toward a vibrant future.