Sicily – Cheap Real Estate Italy


Imagine owning your own piece of Italian real estate. Italy has plenty of places where foreigners can avail of very cheap real estate. Even cheaper than local homes. There are tradeoffs, however especially if the prices sound too good to be true. And in Italy, there are actually cases that are, especially in Sicily, the Mediterranean’s largest island.

The last part of the statement really ramps up the appeal. Imagine vacationing in your own property in the Mediterranean from time to time or actually living there. Yes, it’s completely possible to purchase Italian real estate ( Italy has no restrictions on foreigners with regards to purchasing property. As to where to buy in Italy, one of the cheapest places to buy is the island of Sicily.

Italy’s property market is very much active thanks to its recent economic recession as well as the current global situation, resulting in low prices, especially in Sicily. Again, there are tradeoffs to buying cheap property. The property may be located way inland or in the middle of nowhere. Though there are cheap urban and bayside properties too. Another is the cost of renovations, which is why it’s important to communicate with a good real estate agency in order to get the best deals. Another tradeoff is getting used to Italian language and culture. The bright side of Italy being a tourist magnet is that most of the population can speak English.

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The prices? Small stone homes in villages can be bought for as little as 3,000 to 30,000 euros. Modern villas and beach homes can be bought for 300,000 to 500,000 euros which is still relatively cheap. These homes can be converted to B&Bs which is what many buyers currently do or simply turn them into vacation homes, as jumping off points to Italy and other parts of Europe. When it comes to cheap European real estate, Italy, specifically Sicily is the place to be.

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